Grab Holdings Limited (NASDAQ:GRAB) Stock Position Raised by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lifted its stake in shares of Grab Holdings Limited (NASDAQ:GRAB) by 18.5% during the third quarter, Holdings Channel reports. The firm owned 20,243,162 shares of the company’s stock after purchasing an additional 3,163,309 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Grab were worth $76,924,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Virtu Financial LLC acquired a new stake in Grab during the 4th quarter worth about $191,000. Goldman Sachs Group Inc. raised its holdings in shares of Grab by 1.7% during the fourth quarter. Goldman Sachs Group Inc. now owns 7,648,194 shares of the company’s stock valued at $25,774,000 after acquiring an additional 126,365 shares during the period. Wellington Management Group LLP lifted its position in shares of Grab by 21,347.2% in the 4th quarter. Wellington Management Group LLP now owns 6,724,121 shares of the company’s stock valued at $22,660,000 after acquiring an additional 6,692,769 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in Grab by 33.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 55,789 shares of the company’s stock worth $188,000 after purchasing an additional 14,015 shares during the period. Finally, Vanguard Capital Wealth Advisors grew its position in Grab by 288.5% during the 1st quarter. Vanguard Capital Wealth Advisors now owns 224,935 shares of the company’s stock worth $706,000 after purchasing an additional 167,035 shares in the last quarter. 55.52% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on GRAB. Benchmark restated a “buy” rating and issued a $6.00 target price on shares of Grab in a report on Wednesday, September 11th. Jefferies Financial Group reduced their price objective on Grab from $5.00 to $4.70 and set a “buy” rating for the company in a research note on Wednesday, July 17th. Finally, Mizuho started coverage on Grab in a research note on Thursday, June 27th. They set an “outperform” rating and a $5.00 target price on the stock. Seven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Grab has a consensus rating of “Buy” and a consensus price target of $4.71.

Grab Price Performance

GRAB opened at $4.03 on Tuesday. The company has a current ratio of 3.00, a quick ratio of 2.97 and a debt-to-equity ratio of 0.03. Grab Holdings Limited has a 1 year low of $2.90 and a 1 year high of $4.06. The stock has a fifty day moving average price of $3.48 and a 200 day moving average price of $3.49. The stock has a market cap of $15.81 billion, a price-to-earnings ratio of -57.71 and a beta of 0.83.

Grab (NASDAQ:GRAB) last announced its quarterly earnings results on Thursday, August 15th. The company reported ($0.01) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.01). Grab had a negative return on equity of 3.35% and a negative net margin of 8.24%. The business had revenue of $664.00 million during the quarter, compared to analyst estimates of $674.17 million. During the same period in the previous year, the company earned ($0.03) EPS. The firm’s revenue was up 17.1% on a year-over-year basis. Analysts forecast that Grab Holdings Limited will post -0.04 EPS for the current fiscal year.

Grab 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.