Principal Financial Group Inc. Raises Position in Grab Holdings Limited $GRAB

Key Points

• Principal Financial Group increased its stake in Grab by 68.3% in Q3 to 10,220,905 shares, representing about 0.25% ownership and roughly $61.53 million in holdings.
• Wall Street sentiment is mostly positive with a consensus “Buy” rating and an average target price of $6.47, backed by recent upgrades from Barclays, Jefferies and HSBC.
• Grab shares recently traded around $4.27 (down 3.2%), carry a market cap of $17.2 billion and a high P/E of 106.8; the company reported a $0.01 EPS miss for the quarter while revenue of $873 million slightly beat expectations.

Principal Financial Group Inc. lifted its holdings in Grab Holdings Limited (NASDAQ:GRAB - Free Report) by 68.3% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,220,905 shares of the company's stock after purchasing an additional 4,149,040 shares during the quarter. Principal Financial Group Inc. owned about 0.25% of Grab worth $61,530,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. AlphaCore Capital LLC acquired a new stake in Grab in the second quarter worth about $33,000. Caitong International Asset Management Co. Ltd raised its position in shares of Grab by 51.2% in the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 7,780 shares of the company's stock valued at $39,000 after purchasing an additional 2,634 shares during the last quarter. Prospera Financial Services Inc acquired a new stake in Grab in the 2nd quarter worth approximately $50,000. Savant Capital LLC purchased a new stake in Grab during the 2nd quarter worth approximately $51,000. Finally, Orion Porfolio Solutions LLC purchased a new stake in Grab during the 2nd quarter worth approximately $54,000. 55.52% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

GRAB has been the subject of several research reports. Barclays lifted their price objective on shares of Grab from $6.50 to $7.00 and gave the stock an "overweight" rating in a research note on Tuesday, November 11th. Jefferies Financial Group reaffirmed a "buy" rating and set a $7.00 price target on shares of Grab in a research report on Tuesday, November 4th. Hsbc Global Res raised Grab from a "hold" rating to a "strong-buy" rating in a report on Friday, January 16th. Wall Street Zen upgraded Grab from a "sell" rating to a "hold" rating in a research note on Friday, January 23rd. Finally, Weiss Ratings reiterated a "hold (c-)" rating on shares of Grab in a research report on Thursday, January 22nd. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $6.47.

Grab Stock Down 3.2%

Shares of GRAB opened at $4.27 on Wednesday. The company has a market capitalization of $17.20 billion, a price-to-earnings ratio of 106.78 and a beta of 0.92. Grab Holdings Limited has a 52 week low of $3.36 and a 52 week high of $6.62. The stock's 50-day moving average price is $4.91 and its 200-day moving average price is $5.32. The company has a quick ratio of 1.81, a current ratio of 1.83 and a debt-to-equity ratio of 0.05.

Grab (NASDAQ:GRAB - Get Free Report) last announced its quarterly earnings results on Tuesday, November 4th. The company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.02). Grab had a net margin of 3.81% and a return on equity of 1.91%. The company had revenue of $873.00 million for the quarter, compared to analysts' expectations of $870.44 million. On average, sell-side analysts predict that Grab Holdings Limited will post 0.05 EPS for the current year.

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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