Principal Financial Group Inc. Sells 8,423 Shares of Grab Holdings Limited (NASDAQ:GRAB)

Principal Financial Group Inc. trimmed its position in Grab Holdings Limited (NASDAQ:GRABFree Report) by 5.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 136,639 shares of the company’s stock after selling 8,423 shares during the quarter. Principal Financial Group Inc.’s holdings in Grab were worth $460,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in GRAB. Deutsche Bank AG raised its holdings in shares of Grab by 2.4% during the 3rd quarter. Deutsche Bank AG now owns 2,964,633 shares of the company’s stock worth $10,495,000 after buying an additional 69,792 shares in the last quarter. FMR LLC lifted its holdings in shares of Grab by 2,898.6% in the third quarter. FMR LLC now owns 4,581,183 shares of the company’s stock worth $16,217,000 after acquiring an additional 4,428,407 shares during the last quarter. Public Sector Pension Investment Board boosted its stake in shares of Grab by 0.6% in the 3rd quarter. Public Sector Pension Investment Board now owns 668,080 shares of the company’s stock valued at $2,365,000 after purchasing an additional 4,200 shares in the last quarter. Kinetic Partners Management LP bought a new stake in shares of Grab during the 3rd quarter valued at approximately $23,176,000. Finally, OPTIMAS CAPITAL Ltd acquired a new position in Grab during the 4th quarter worth approximately $2,146,000. 55.52% of the stock is currently owned by institutional investors and hedge funds.

Grab Stock Performance

NASDAQ GRAB opened at $3.67 on Tuesday. The business has a 50 day simple moving average of $3.46 and a 200 day simple moving average of $3.29. Grab Holdings Limited has a one year low of $2.90 and a one year high of $3.92. The stock has a market capitalization of $14.40 billion, a P/E ratio of -52.42 and a beta of 0.82. The company has a debt-to-equity ratio of 0.03, a current ratio of 3.26 and a quick ratio of 3.22.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on GRAB. HSBC reaffirmed a “buy” rating and set a $4.30 target price on shares of Grab in a research note on Thursday, April 4th. Benchmark reaffirmed a “buy” rating and issued a $6.00 target price on shares of Grab in a report on Thursday, May 16th. Deutsche Bank Aktiengesellschaft started coverage on Grab in a research note on Friday, May 17th. They set a “buy” rating and a $4.50 price target on the stock. Finally, Barclays raised their price objective on shares of Grab from $4.30 to $4.70 and gave the company an “overweight” rating in a report on Wednesday, May 22nd. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $5.07.

View Our Latest Analysis on Grab

About Grab

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Grab (NASDAQ:GRAB)

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