Allspring Global Investments Holdings LLC Has $76.92 Million Stock Position in Grab Holdings Limited (NASDAQ:GRAB)

Allspring Global Investments Holdings LLC grew its stake in shares of Grab Holdings Limited (NASDAQ:GRAB - Free Report) by 18.5% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 20,243,162 shares of the company's stock after purchasing an additional 3,163,309 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.52% of Grab worth $76,924,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in GRAB. Baillie Gifford & Co. acquired a new stake in Grab in the 2nd quarter valued at about $166,587,000. Coronation Fund Managers Ltd. raised its stake in Grab by 29.7% in the second quarter. Coronation Fund Managers Ltd. now owns 45,452,613 shares of the company's stock valued at $161,357,000 after buying an additional 10,410,574 shares during the period. Marshall Wace LLP lifted its position in shares of Grab by 39.7% in the second quarter. Marshall Wace LLP now owns 30,405,993 shares of the company's stock valued at $107,941,000 after buying an additional 8,635,310 shares during the last quarter. Prudential PLC increased its holdings in shares of Grab by 13.9% during the 2nd quarter. Prudential PLC now owns 20,226,225 shares of the company's stock worth $71,803,000 after acquiring an additional 2,461,934 shares during the last quarter. Finally, AQR Capital Management LLC increased its holdings in shares of Grab by 29.2% during the 2nd quarter. AQR Capital Management LLC now owns 16,872,014 shares of the company's stock worth $59,811,000 after acquiring an additional 3,812,994 shares during the last quarter. Institutional investors own 55.52% of the company's stock.

Grab Price Performance

Shares of GRAB stock traded up $0.13 during trading on Tuesday, hitting $4.16. The company had a trading volume of 68,331,242 shares, compared to its average volume of 23,444,637. The firm has a market capitalization of $16.32 billion, a P/E ratio of -59.57 and a beta of 0.83. Grab Holdings Limited has a one year low of $2.90 and a one year high of $4.22. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.97 and a current ratio of 3.00. The stock's 50-day moving average price is $3.50 and its 200 day moving average price is $3.49.

Grab (NASDAQ:GRAB - Get Free Report) last released its earnings results on Thursday, August 15th. The company reported ($0.01) earnings per share for the quarter, meeting analysts' consensus estimates of ($0.01). The firm had revenue of $664.00 million during the quarter, compared to the consensus estimate of $674.17 million. Grab had a negative return on equity of 3.35% and a negative net margin of 8.24%. The company's revenue was up 17.1% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.03) EPS. Equities analysts expect that Grab Holdings Limited will post -0.04 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

GRAB has been the subject of a number of research analyst reports. Jefferies Financial Group reduced their price objective on shares of Grab from $5.00 to $4.70 and set a "buy" rating for the company in a research report on Wednesday, July 17th. Benchmark reissued a "buy" rating and issued a $6.00 price target on shares of Grab in a report on Wednesday, September 11th. Finally, Mizuho assumed coverage on shares of Grab in a research report on Thursday, June 27th. They set an "outperform" rating and a $5.00 price objective for the company. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Grab currently has a consensus rating of "Buy" and a consensus price target of $4.71.

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.