Allspring Global Investments Holdings LLC Invests $52.92 Million in Grab Holdings Limited (NASDAQ:GRAB)

Allspring Global Investments Holdings LLC bought a new stake in shares of Grab Holdings Limited (NASDAQ:GRAB) during the 1st quarter, Holdings Channel reports. The firm bought 16,853,398 shares of the company’s stock, valued at approximately $52,920,000.

Several other institutional investors and hedge funds also recently bought and sold shares of GRAB. Norges Bank purchased a new position in Grab during the fourth quarter valued at approximately $146,995,000. Wellington Management Group LLP lifted its stake in shares of Grab by 21,347.2% during the 4th quarter. Wellington Management Group LLP now owns 6,724,121 shares of the company’s stock valued at $22,660,000 after buying an additional 6,692,769 shares in the last quarter. Robeco Institutional Asset Management B.V. boosted its holdings in Grab by 758.3% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 6,031,759 shares of the company’s stock worth $20,327,000 after buying an additional 5,328,992 shares during the period. FMR LLC increased its stake in Grab by 2,898.6% in the 3rd quarter. FMR LLC now owns 4,581,183 shares of the company’s stock worth $16,217,000 after buying an additional 4,428,407 shares in the last quarter. Finally, Hsbc Holdings PLC raised its holdings in Grab by 594.7% during the fourth quarter. Hsbc Holdings PLC now owns 3,274,541 shares of the company’s stock valued at $11,028,000 after acquiring an additional 3,936,451 shares during the period. 55.52% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on GRAB. Mizuho initiated coverage on shares of Grab in a report on Thursday, June 27th. They set an “outperform” rating and a $5.00 price objective for the company. Barclays lifted their target price on Grab from $4.30 to $4.70 and gave the stock an “overweight” rating in a report on Wednesday, May 22nd. HSBC restated a “buy” rating and set a $4.30 price target on shares of Grab in a report on Thursday, April 4th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Grab in a research report on Friday, May 17th. They set a “buy” rating and a $4.50 price objective on the stock. Finally, Benchmark restated a “buy” rating and issued a $6.00 target price on shares of Grab in a report on Thursday, May 16th. Eight equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Grab currently has a consensus rating of “Buy” and an average target price of $5.06.

Grab Trading Down 0.8 %

GRAB stock opened at $3.50 on Wednesday. The company has a market capitalization of $13.73 billion, a PE ratio of -49.99 and a beta of 0.81. The company has a debt-to-equity ratio of 0.03, a current ratio of 3.26 and a quick ratio of 3.22. Grab Holdings Limited has a 12 month low of $2.90 and a 12 month high of $3.92. The firm’s 50-day moving average is $3.59 and its 200 day moving average is $3.36.

Grab (NASDAQ:GRAB) last issued its earnings results on Wednesday, May 15th. The company reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.02). The company had revenue of $653.00 million for the quarter, compared to analysts’ expectations of $662.48 million. Grab had a negative return on equity of 4.62% and a negative net margin of 11.86%. On average, research analysts anticipate that Grab Holdings Limited will post -0.01 EPS for the current year.

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.