Allspring Global Investments Holdings LLC Sells 153,858 Shares of Grab Holdings Limited (NASDAQ:GRAB)

Allspring Global Investments Holdings LLC lowered its position in Grab Holdings Limited (NASDAQ:GRAB - Free Report) by 0.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 20,089,304 shares of the company's stock after selling 153,858 shares during the period. Allspring Global Investments Holdings LLC owned 0.50% of Grab worth $95,223,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Empowered Funds LLC increased its holdings in Grab by 7.7% in the third quarter. Empowered Funds LLC now owns 43,788 shares of the company's stock worth $166,000 after buying an additional 3,147 shares during the last quarter. Blue Trust Inc. increased its holdings in Grab by 53.6% in the third quarter. Blue Trust Inc. now owns 9,767 shares of the company's stock worth $35,000 after buying an additional 3,408 shares during the last quarter. FNY Investment Advisers LLC increased its holdings in Grab by 13.9% in the fourth quarter. FNY Investment Advisers LLC now owns 28,700 shares of the company's stock worth $135,000 after buying an additional 3,500 shares during the last quarter. Asset Management One Co. Ltd. increased its holdings in Grab by 0.5% in the third quarter. Asset Management One Co. Ltd. now owns 776,458 shares of the company's stock worth $2,951,000 after buying an additional 3,941 shares during the last quarter. Finally, First Trust Direct Indexing L.P. increased its holdings in Grab by 34.5% in the third quarter. First Trust Direct Indexing L.P. now owns 18,435 shares of the company's stock worth $70,000 after buying an additional 4,725 shares during the last quarter. Institutional investors and hedge funds own 55.52% of the company's stock.

Wall Street Analyst Weigh In

GRAB has been the topic of several analyst reports. Barclays increased their price target on Grab from $4.70 to $5.50 and gave the company an "overweight" rating in a report on Wednesday, November 13th. JPMorgan Chase & Co. downgraded Grab from an "overweight" rating to a "neutral" rating in a report on Wednesday, February 5th. China Renaissance downgraded Grab from a "buy" rating to a "hold" rating and set a $5.40 price target on the stock. in a report on Thursday, November 21st. Evercore ISI increased their price target on Grab from $7.00 to $8.00 and gave the company an "outperform" rating in a report on Tuesday, November 12th. Finally, HSBC upgraded Grab from a "hold" rating to a "buy" rating and lowered their price target for the company from $5.50 to $5.45 in a report on Tuesday, February 4th. Three research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Grab has a consensus rating of "Moderate Buy" and an average price target of $5.54.

Grab Stock Performance

Shares of Grab stock traded down $0.06 during midday trading on Friday, hitting $4.90. The company had a trading volume of 31,196,986 shares, compared to its average volume of 29,911,193. The business's 50 day simple moving average is $4.79 and its two-hundred day simple moving average is $4.22. The stock has a market cap of $19.73 billion, a PE ratio of -245.00, a P/E/G ratio of 1.95 and a beta of 0.90. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.70 and a quick ratio of 2.67. Grab Holdings Limited has a 1-year low of $2.98 and a 1-year high of $5.72.

Grab (NASDAQ:GRAB - Get Free Report) last announced its quarterly earnings data on Monday, November 11th. The company reported $0.01 earnings per share (EPS) for the quarter. The business had revenue of $716.00 million for the quarter, compared to the consensus estimate of $705.40 million. Grab had a negative net margin of 3.57% and a negative return on equity of 1.50%. During the same quarter last year, the company posted ($0.02) earnings per share. As a group, equities analysts predict that Grab Holdings Limited will post -0.02 EPS for the current fiscal year.

About Grab

Grab Holdings Limited engages in the provision of superapps in Cambodia, Indonesia, Malaysia, Myanmar, the Philippines, Singapore, Thailand, and Vietnam. The company offers its Grab ecosystem, a single platform with superapps for driver- and merchant-partners and consumers, that allows access to mobility, delivery, digital financial services, and enterprise sector offerings.