Allspring Global Investments Holdings LLC Sells 1,489,921 Shares of Grab Holdings Limited $GRAB

Key Points

• Allspring Global Investments Holdings LLC has reduced its stake in Grab Holdings Limited by 7.6%, selling 1,489,921 shares, and now holds 18,201,698 shares valued at approximately $89.7 million.
• Despite the reduction by Allspring, other institutional investors, such as Vanguard Personalized Indexing Management and Aberdeen Group, have increased their stakes in Grab during the same quarter.
• The stock of Grab Holdings is currently trading at $5.93, with a market capitalization of $23.88 billion, and analysts have a consensus rating of "Moderate Buy" with an average price target of $5.90.

Allspring Global Investments Holdings LLC lowered its holdings in Grab Holdings Limited (NASDAQ:GRAB - Free Report) by 7.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 18,201,698 shares of the company's stock after selling 1,489,921 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.45% of Grab worth $89,734,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Vanguard Personalized Indexing Management LLC increased its stake in Grab by 9.3% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 139,002 shares of the company's stock valued at $699,000 after acquiring an additional 11,790 shares during the period. Udine Wealth Management Inc. increased its stake in Grab by 4.0% in the second quarter. Udine Wealth Management Inc. now owns 244,845 shares of the company's stock valued at $1,232,000 after acquiring an additional 9,388 shares during the period. DSM Capital Partners LLC bought a new stake in Grab in the second quarter valued at about $58,000. Aberdeen Group plc increased its stake in Grab by 11.5% in the second quarter. Aberdeen Group plc now owns 495,416 shares of the company's stock valued at $2,492,000 after acquiring an additional 51,082 shares during the period. Finally, PDS Planning Inc increased its stake in Grab by 25.5% in the second quarter. PDS Planning Inc now owns 23,906 shares of the company's stock valued at $120,000 after acquiring an additional 4,862 shares during the period. Institutional investors own 55.52% of the company's stock.

Grab Price Performance

Shares of Grab stock opened at $5.93 on Tuesday. Grab Holdings Limited has a 1-year low of $3.36 and a 1-year high of $6.62. The company has a current ratio of 1.88, a quick ratio of 1.87 and a debt-to-equity ratio of 0.04. The firm's 50-day moving average price is $5.54 and its two-hundred day moving average price is $5.04. The stock has a market capitalization of $23.88 billion, a price-to-earnings ratio of 148.29 and a beta of 0.88.

Grab (NASDAQ:GRAB - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The company reported $0.01 EPS for the quarter, meeting the consensus estimate of $0.01. Grab had a net margin of 3.65% and a return on equity of 1.75%. The business had revenue of $819.00 million for the quarter, compared to analysts' expectations of $809.41 million. Grab has set its FY 2025 guidance at EPS. On average, equities analysts predict that Grab Holdings Limited will post 0.05 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

GRAB has been the topic of a number of analyst reports. Weiss Ratings reissued a "hold (c-)" rating on shares of Grab in a research note on Wednesday, October 8th. Hsbc Global Res cut shares of Grab from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, September 17th. Finally, HSBC reaffirmed a "hold" rating and set a $6.20 price objective on shares of Grab in a research note on Wednesday, September 17th. Seven research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat, Grab currently has a consensus rating of "Moderate Buy" and an average price target of $5.90.

Grab Company Profile

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.

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