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% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 15,424,298 shares of the company’s stock after selling 262,402 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.38% of Grab worth $78,355,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of GRAB. J. Safra Sarasin Holding AG grew its holdings in Grab by 43.4% during the 4th quarter. J. Safra Sarasin Holding AG now owns 122,740 shares of the company’s stock valued at $612,000 after buying an additional 37,168 shares in the last quarter. SG Americas Securities LLC lifted its holdings in shares of Grab by 49.2% in the fourth quarter. SG Americas Securities LLC now owns 4,640,032 shares of the company’s stock worth $23,154,000 after buying an additional 1,531,017 shares in the last quarter. Assenagon Asset Management S.A. lifted its holdings in shares of Grab by 173.3% in the fourth quarter. Assenagon Asset Management S.A. now owns 34,753,836 shares of the company’s stock worth $173,422,000 after buying an additional 22,038,961 shares in the last quarter. Diversified Trust Co. boosted its position in shares of Grab by 14.7% in the fourth quarter. Diversified Trust Co. now owns 202,708 shares of the company’s stock valued at $1,012,000 after acquiring an additional 26,038 shares during the period. Finally, Nordea Investment Management AB boosted its position in shares of Grab by 19.1% in the fourth quarter. Nordea Investment Management AB now owns 23,685,128 shares of the company’s stock valued at $119,491,000 after acquiring an additional 3,799,121 shares during the period. 55.52% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Insider Activity

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

Grab Price Performance

Shares of Grab stock opened at $3.66 on Wednesday. Grab Holdings Limited has a 12 month low of $3.36 and a 12 month high of $6.62. The firm has a market capitalization of $15.00 billion, a PE ratio of 122.04, a price-to-earnings-growth ratio of 0.84 and a beta of 0.93. The business’s 50-day moving average price is $4.10 and its 200-day moving average price is $5.01. The company has a current ratio of 1.75, a quick ratio of 1.73 and a debt-to-equity ratio of 0.06.

Grab (NASDAQ:GRAB) last released its earnings results on Wednesday, February 11th. The company reported $0.04 EPS for the quarter, beating the consensus estimate of $0.01 by $0.03. The company had revenue of $906.00 million for the quarter, compared to analyst estimates of $942.08 million. Grab had a net margin of 7.92% and a return on equity of 4.09%. Sell-side analysts forecast that Grab Holdings Limited will post 0.05 EPS for the current fiscal 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.