Principal Financial Group Inc. Boosts Stock Position in Grab Holdings Limited (NASDAQ:GRAB)

Principal Financial Group Inc. lifted its position in Grab Holdings Limited (NASDAQ:GRAB) by 9.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 144,649 shares of the company’s stock after acquiring an additional 11,987 shares during the period. Principal Financial Group Inc.’s holdings in Grab were worth $514,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Miracle Mile Advisors LLC acquired a new position in Grab in the 1st quarter valued at about $32,000. Dorsey & Whitney Trust CO LLC acquired a new stake in Grab in the 1st quarter valued at about $32,000. Callan Capital LLC purchased a new stake in shares of Grab in the 1st quarter valued at approximately $34,000. Lane & Associates LLC purchased a new stake in Grab during the first quarter worth approximately $39,000. Finally, Sivia Capital Partners LLC acquired a new stake in shares of Grab in the 4th quarter valued at about $47,000. Hedge funds and other institutional investors own 55.52% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on GRAB shares. Benchmark reaffirmed a “buy” rating and set a $6.00 price objective on shares of Grab in a research note on Wednesday. Mizuho assumed coverage on shares of Grab in a research note on Thursday, June 27th. They set an “outperform” rating and a $5.00 price target on the stock. Jefferies Financial Group lowered their target price on Grab from $5.00 to $4.70 and set a “buy” rating for the company in a research note on Wednesday, July 17th. Deutsche Bank Aktiengesellschaft assumed coverage on Grab in a research note on Friday, May 17th. They set a “buy” rating and a $4.50 price objective on the stock. Finally, Barclays increased their price objective on Grab from $4.30 to $4.70 and gave the stock an “overweight” rating in a report on Wednesday, May 22nd. Seven analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $4.71.

Grab Price Performance

Shares of GRAB opened at $3.47 on Friday. The company has a market capitalization of $13.61 billion, a price-to-earnings ratio of -49.56 and a beta of 0.81. The business has a 50-day moving average of $3.33 and a 200-day moving average of $3.39. Grab Holdings Limited has a 1 year low of $2.90 and a 1 year high of $3.77. The company has a debt-to-equity ratio of 0.03, a current ratio of 3.00 and a quick ratio of 2.97.

Grab (NASDAQ:GRAB) last issued its quarterly earnings results on Thursday, August 15th. The company reported ($0.01) EPS for the quarter, meeting analysts’ consensus estimates of ($0.01). The firm had revenue of $664.00 million for the quarter, compared to analysts’ expectations of $674.17 million. Grab had a negative return on equity of 3.35% and a negative net margin of 8.24%. The business’s revenue for the quarter was up 17.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.03) EPS. As a group, equities research analysts anticipate that Grab Holdings Limited will post -0.01 earnings per share for the current year.

Grab Company 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.