Allspring Global Investments Holdings LLC Has $58.32 Million Stock Holdings in Grab Holdings Limited $GRAB

Key Points

• Allspring Global Investments increased its Grab stake by 3.0% in Q1, ending with 15.89 million shares valued at about $58.3 million.
• Several other institutional investors also boosted their positions, and hedge funds/institutions now own 55.52% of Grab’s stock.
• Analysts remain generally positive overall, with a Moderate Buy consensus and a $6.01 average price target, though some firms recently cut targets and Grab’s latest earnings slightly missed EPS estimates.

Allspring Global Investments Holdings LLC lifted its position in shares of Grab Holdings Limited (NASDAQ:GRAB - Free Report) by 3.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,891,298 shares of the company's stock after acquiring an additional 467,000 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.39% of Grab worth $58,321,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of GRAB. Principal Financial Group Inc. raised its holdings in Grab by 62.6% during the 1st quarter. Principal Financial Group Inc. now owns 21,422,123 shares of the company's stock worth $78,405,000 after purchasing an additional 8,244,732 shares during the last quarter. Sequoia Financial Advisors LLC grew its holdings in shares of Grab by 117.3% during the first quarter. Sequoia Financial Advisors LLC now owns 151,710 shares of the company's stock valued at $555,000 after buying an additional 81,902 shares during the last quarter. Warm Springs Advisors Inc. increased its position in shares of Grab by 12.2% during the first quarter. Warm Springs Advisors Inc. now owns 458,500 shares of the company's stock worth $1,678,000 after acquiring an additional 50,000 shares in the last quarter. Hsbc Holdings PLC increased its position in shares of Grab by 129.1% during the first quarter. Hsbc Holdings PLC now owns 14,786,634 shares of the company's stock worth $54,056,000 after acquiring an additional 8,331,486 shares in the last quarter. Finally, Resona Asset Management Co. Ltd. grew its holdings in Grab by 0.4% during the first quarter. Resona Asset Management Co. Ltd. now owns 721,569 shares of the company's stock worth $2,628,000 after buying an additional 2,858 shares in the last quarter. Institutional investors and hedge funds own 55.52% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on GRAB shares. Zacks Research upgraded Grab from a "strong sell" rating to a "hold" rating in a report on Tuesday, June 2nd. Barclays dropped their target price on shares of Grab from $7.00 to $5.00 and set an "overweight" rating on the stock in a research note on Thursday, July 9th. Weiss Ratings raised shares of Grab from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Wednesday, May 6th. Mizuho decreased their price target on shares of Grab from $7.00 to $6.00 and set an "outperform" rating for the company in a research note on Tuesday, May 5th. Finally, China Renaissance upgraded shares of Grab from a "hold" rating to a "buy" rating and set a $5.00 price target for the company in a research note on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat, Grab currently has a consensus rating of "Moderate Buy" and a consensus target price of $6.01.

Insider Activity at Grab

In other news, CFO Peter Henry Oey sold 50,000 shares of the firm's stock in a transaction on Friday, May 15th. The shares were sold at an average price of $3.54, for a total transaction of $177,000.00. Following the sale, the chief financial officer owned 7,000,165 shares in the company, valued at approximately $24,780,584.10. This trade represents a 0.71% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Chin Yin Ong sold 48,000 shares of the firm's stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $3.55, for a total value of $170,400.00. Following the transaction, the insider directly owned 3,781,306 shares in the company, valued at approximately $13,423,636.30. This represents a 1.25% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 1,666,093 shares of company stock worth $6,083,321 over the last quarter. 3.60% of the stock is currently owned by corporate insiders.

Grab Stock Performance

NASDAQ:GRAB opened at $3.57 on Friday. The business's fifty day moving average is $3.60 and its 200 day moving average is $3.96. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.65 and a current ratio of 1.67. Grab Holdings Limited has a 52-week low of $3.18 and a 52-week high of $6.62. The firm has a market cap of $14.63 billion, a price-to-earnings ratio of 357.36, a PEG ratio of 1.37 and a beta of 0.87.

Grab (NASDAQ:GRAB - Get Free Report) last posted its earnings results on Tuesday, May 5th. The company reported ($0.01) earnings per share for the quarter, missing analysts' consensus estimates of $0.02 by ($0.03). The firm had revenue of $955.00 million for the quarter, compared to the consensus estimate of $921.71 million. Grab had a return on equity of 5.79% and a net margin of 10.67%. Research analysts predict that Grab Holdings Limited will post 0.1 EPS for the current year.

Grab Profile

Grab Holdings Inc is a Singapore-based technology company that operates a consumer-facing "super app" across Southeast Asia offering services spanning ride-hailing, food and package delivery, and digital payments. Its platform connects consumers, drivers, merchants and delivery partners through mobile applications and supports on-demand mobility (taxi and private car), last-mile logistics, and on-demand food delivery under brands such as GrabFood and GrabExpress. The company has also developed a merchant-facing ecosystem that supports ordering, payment acceptance and loyalty functions.

Beyond transportation and delivery, Grab has expanded into financial services through Grab Financial Group, which provides digital payments via GrabPay, consumer lending, insurance distribution and small-business financial solutions.

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