Allspring Global Investments Holdings LLC Grows Stake in Grab Holdings Limited $GRAB

Allspring Global Investments Holdings LLC raised its holdings in Grab Holdings Limited (NASDAQ:GRAB) by 3.0% during the first quarter, Holdings Channel.com reports. The institutional investor owned 15,891,298 shares of the company’s stock after buying an additional 467,000 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Grab were worth $58,321,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in GRAB. Integrated Wealth Concepts LLC increased its stake in shares of Grab by 201.2% during the first quarter. Integrated Wealth Concepts LLC now owns 35,386 shares of the company’s stock valued at $160,000 after purchasing an additional 23,639 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Grab by 6.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 9,231,195 shares of the company’s stock valued at $41,817,000 after buying an additional 529,433 shares during the period. Empowered Funds LLC boosted its stake in shares of Grab by 6.2% in the 1st quarter. Empowered Funds LLC now owns 52,698 shares of the company’s stock worth $239,000 after buying an additional 3,090 shares during the last quarter. Focus Partners Wealth purchased a new position in shares of Grab in the 1st quarter worth $63,000. Finally, Cetera Investment Advisers grew its holdings in shares of Grab by 11.7% in the second quarter. Cetera Investment Advisers now owns 106,710 shares of the company’s stock worth $537,000 after acquiring an additional 11,158 shares during the period. 55.52% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Grab news, insider Chin Yin Ong sold 38,000 shares of the company’s stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of $3.88, for a total value of $147,440.00. Following the transaction, the insider directly owned 3,708,611 shares in the company, valued at $14,389,410.68. This represents a 1.01% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Peter Henry Oey sold 50,000 shares of the firm’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $3.53, for a total transaction of $176,500.00. Following the transaction, the chief financial officer directly owned 6,950,165 shares in the company, valued at approximately $24,534,082.45. This trade represents a 0.71% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 1,666,093 shares of company stock valued at $6,083,321. Insiders own 3.60% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on the company. China Renaissance upgraded Grab from a “hold” rating to a “buy” rating and set a $5.00 price objective for the company in a research report on Wednesday, May 6th. Mizuho lowered their price objective on Grab from $7.00 to $6.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 5th. JPMorgan Chase & Co. lowered their price target on shares of Grab from $5.90 to $5.80 and set an “overweight” rating on the stock in a report on Tuesday, May 5th. Morgan Stanley reaffirmed an “overweight” rating and set a $6.25 price target on shares of Grab in a report on Tuesday, June 30th. Finally, Weiss Ratings raised Grab from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $6.01.

Grab Price Performance

NASDAQ:GRAB opened at $3.57 on Friday. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.67 and a quick ratio of 1.65. Grab Holdings Limited has a 1 year low of $3.18 and a 1 year high of $6.62. The firm has a market capitalization of $14.63 billion, a price-to-earnings ratio of 357.36, a PEG ratio of 1.37 and a beta of 0.87. The business has a 50 day simple moving average of $3.60 and a 200-day simple moving average of $3.96.

Grab (NASDAQ:GRAB) last released its earnings results on Tuesday, May 5th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.03). The firm had revenue of $955.00 million during the quarter, compared to the consensus estimate of $921.71 million. Grab had a return on equity of 5.79% and a net margin of 10.67%. Equities analysts forecast that Grab Holdings Limited will post 0.1 EPS 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.