Allspring Global Investments Holdings LLC Sells 153,858 Shares of Grab Holdings Limited (NASDAQ:GRAB)

Allspring Global Investments Holdings LLC decreased its stake in Grab Holdings Limited (NASDAQ:GRAB - Free Report) by 0.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,089,304 shares of the company's stock after selling 153,858 shares during the period. Allspring Global Investments Holdings LLC owned 0.50% of Grab worth $95,223,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. Wellington Management Group LLP grew its holdings in shares of Grab by 13.4% in the 3rd quarter. Wellington Management Group LLP now owns 124,314,286 shares of the company's stock valued at $472,394,000 after acquiring an additional 14,671,388 shares in the last quarter. Perpetual Ltd acquired a new stake in Grab in the 4th quarter valued at about $213,177,000. State Street Corp lifted its stake in Grab by 2.3% in the 3rd quarter. State Street Corp now owns 43,570,388 shares of the company's stock valued at $165,567,000 after purchasing an additional 967,233 shares during the last quarter. Coronation Fund Managers Ltd. lifted its stake in Grab by 11.4% in the 3rd quarter. Coronation Fund Managers Ltd. now owns 33,735,725 shares of the company's stock valued at $128,196,000 after purchasing an additional 3,442,581 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in Grab by 2.9% in the 3rd quarter. Geode Capital Management LLC now owns 20,666,618 shares of the company's stock valued at $77,414,000 after purchasing an additional 591,898 shares during the last quarter. Institutional investors own 55.52% of the company's stock.

Grab Price Performance

Shares of GRAB stock traded down $0.06 during trading on Friday, hitting $4.90. The company had a trading volume of 31,196,986 shares, compared to its average volume of 28,847,300. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.67 and a current ratio of 2.70. The firm has a market capitalization of $19.73 billion, a P/E ratio of -245.00, a price-to-earnings-growth ratio of 1.95 and a beta of 0.90. The stock's 50-day moving average price is $4.79 and its 200 day moving average price is $4.23. Grab Holdings Limited has a one year low of $2.98 and a one year high of $5.72.

Analyst Ratings Changes

Several brokerages recently issued reports on GRAB. Mizuho raised their target price on shares of Grab from $5.00 to $6.00 and gave the company an "outperform" rating in a research note on Wednesday, November 13th. JPMorgan Chase & Co. downgraded shares of Grab from an "overweight" rating to a "neutral" rating in a research note on Wednesday, February 5th. Bank of America upgraded shares of Grab from an "underperform" rating to a "neutral" rating and raised their target price for the company from $4.90 to $5.10 in a research note on Tuesday, January 7th. Benchmark restated a "buy" rating and set a $6.00 price objective on shares of Grab in a research report on Tuesday, November 12th. Finally, Hsbc Global Res upgraded shares of Grab from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, February 4th. Three analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $5.54.

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.