Allspring Global Investments Holdings LLC Sells 262,402 Shares of Grab Holdings Limited $GRAB

Allspring Global Investments Holdings LLC lowered its holdings in Grab Holdings Limited (NASDAQ:GRAB) by 1.7% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 15,424,298 shares of the company’s stock after selling 262,402 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Grab were worth $78,355,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Advisory Services Network LLC bought a new stake in Grab in the third quarter valued at $38,000. Larson Financial Group LLC lifted its holdings in Grab by 162,500.0% in the third quarter. Larson Financial Group LLC now owns 6,504 shares of the company’s stock worth $39,000 after buying an additional 6,500 shares during the period. Allworth Financial LP boosted its position in Grab by 70.9% during the 3rd quarter. Allworth Financial LP now owns 8,085 shares of the company’s stock valued at $49,000 after acquiring an additional 3,354 shares in the last quarter. Orion Porfolio Solutions LLC bought a new stake in Grab during the 2nd quarter valued at approximately $54,000. Finally, EverSource Wealth Advisors LLC lifted its stake in shares of Grab by 98.9% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 11,797 shares of the company’s stock valued at $59,000 after purchasing an additional 5,866 shares during the period. 55.52% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently weighed in on GRAB. Weiss Ratings restated a “hold (c-)” rating on shares of Grab in a research report on Thursday, January 22nd. Wall Street Zen raised shares of Grab from a “sell” rating to a “hold” rating in a research note on Friday, January 23rd. Benchmark reiterated a “buy” rating on shares of Grab in a report on Thursday, February 12th. HSBC raised Grab from a “hold” rating to a “buy” rating and set a $6.20 price target on the stock in a research report on Friday, January 16th. Finally, Sanford C. Bernstein reaffirmed an “outperform” rating and set a $5.80 price objective on shares of Grab in a research report on Monday, January 26th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $6.47.

Insider Buying and Selling

In other Grab news, CAO John Pierantoni sold 14,819 shares of the stock in a transaction dated Friday, March 20th. The stock was sold at an average price of $3.61, for a total value of $53,496.59. Following the transaction, the chief accounting officer owned 569,376 shares of the company’s stock, valued at approximately $2,055,447.36. This represents a 2.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 3.60% of the company’s stock.

Grab Price Performance

Shares of NASDAQ:GRAB opened at $3.66 on Wednesday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.73 and a current ratio of 1.75. The business has a 50-day simple moving average of $4.10 and a two-hundred day simple moving average of $5.01. Grab Holdings Limited has a fifty-two week low of $3.36 and a fifty-two week high of $6.62. The firm has a market cap of $15.00 billion, a price-to-earnings ratio of 122.04, a price-to-earnings-growth ratio of 0.84 and a beta of 0.93.

Grab (NASDAQ:GRAB) last issued its quarterly earnings data on Wednesday, February 11th. The company reported $0.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.01 by $0.03. The company had revenue of $906.00 million for the quarter, compared to the consensus estimate of $942.08 million. Grab had a net margin of 7.92% and a return on equity of 4.09%. On average, analysts expect that Grab Holdings Limited will post 0.05 earnings per share 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.