Grab Holdings Limited $GRAB Shares Bought by Principal Financial Group Inc.

Key Points

• Principal Financial Group increased its Grab stake by 13.4% in the second quarter, adding 2.87 million shares to own 24.29 million shares valued at approximately $91.6 million. Institutional investors collectively hold 55.52% of Grab.
• Grab’s latest quarterly results exceeded expectations, with adjusted EPS of $0.06 versus a $0.05 consensus estimate and revenue of $997 million. Analysts project $0.13 in full-year EPS, while the stock recently traded near $3.62.
• Analyst sentiment remains positive but target prices have been reduced by several firms; Grab has a “Moderate Buy” consensus rating and an average price target of $6.01. Meanwhile, insiders sold about 1.59 million shares worth $5.78 million over the past three months.

Principal Financial Group Inc. lifted its stake in shares of Grab Holdings Limited (NASDAQ:GRAB - Free Report) by 13.4% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 24,289,581 shares of the company's stock after purchasing an additional 2,867,458 shares during the quarter. Principal Financial Group Inc. owned about 0.59% of Grab worth $91,572,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of GRAB. Gunpowder Capital Management LLC dba Oliver Wealth Management acquired a new position in Grab during the 4th quarter valued at about $25,000. Montag A & Associates Inc. acquired a new position in shares of Grab during the 1st quarter valued at $27,000. Parallel Advisors LLC increased its position in shares of Grab by 305.5% during the 4th quarter. Parallel Advisors LLC now owns 6,107 shares of the company's stock valued at $30,000 after purchasing an additional 4,601 shares during the period. Advocate Investing Services LLC bought a new stake in shares of Grab in the 4th quarter worth $35,000. Finally, Steward Partners Investment Advisory LLC raised its stake in shares of Grab by 128.0% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 7,525 shares of the company's stock worth $38,000 after buying an additional 4,225 shares in the last quarter. Institutional investors own 55.52% of the company's stock.

Insiders Place Their Bets

In other Grab news, COO Alexander Charles Hungate sold 144,093 shares of the business's stock in a transaction dated Tuesday, June 23rd. The stock was sold at an average price of $3.45, for a total transaction of $497,120.85. Following the sale, the chief operating officer owned 6,254,023 shares in the company, valued at approximately $21,576,379.35. The trade was a 2.25% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Chin Yin Ong sold 48,000 shares of the company's stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $3.55, for a total transaction of $170,400.00. Following the sale, the insider directly owned 3,781,306 shares of the company's stock, valued at $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 have sold a total of 1,586,093 shares of company stock worth $5,780,881 over the last three months. Company insiders own 3.60% of the company's stock.

Grab Price Performance

Shares of NASDAQ:GRAB opened at $3.62 on Friday. The company has a market capitalization of $14.83 billion, a PE ratio of 60.34, a price-to-earnings-growth ratio of 0.97 and a beta of 0.89. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.51 and a current ratio of 1.52. The stock has a fifty day moving average of $3.60 and a 200-day moving average of $3.79. Grab Holdings Limited has a one year low of $3.18 and a one year high of $6.62.

Grab (NASDAQ:GRAB - Get Free Report) last issued its earnings results on Tuesday, August 4th. The company reported $0.06 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.05 by $0.01. The business had revenue of $997.00 million for the quarter, compared to analysts' expectations of $994.97 million. Grab had a return on equity of 8.83% and a net margin of 15.97%. As a group, equities analysts anticipate that Grab Holdings Limited will post 0.13 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on GRAB. Barclays decreased their target price on Grab from $7.00 to $5.00 and set an "overweight" rating for the company in a research note on Thursday, July 9th. JPMorgan Chase & Co. cut their price target on shares of Grab from $5.90 to $5.80 and set an "overweight" rating for the company in a report on Tuesday, May 5th. Benchmark restated a "buy" rating on shares of Grab in a research report on Tuesday, August 4th. Mizuho lowered their price objective on shares of Grab from $7.00 to $6.00 and set an "outperform" rating on the stock in a research note on Tuesday, May 5th. Finally, Zacks Research upgraded shares of Grab from a "strong sell" rating to a "hold" rating in a report on Tuesday, June 2nd. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $6.01.

About Grab

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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