Principal Financial Group Inc. Has $78.41 Million Stake in Grab Holdings Limited $GRAB

Principal Financial Group Inc. increased its position in shares of Grab Holdings Limited (NASDAQ:GRAB) by 62.6% during the first quarter, HoldingsChannel reports. The fund owned 21,422,123 shares of the company’s stock after buying an additional 8,244,732 shares during the quarter. Principal Financial Group Inc.’s holdings in Grab were worth $78,405,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of GRAB. Gunpowder Capital Management LLC dba Oliver Wealth Management acquired a new stake in shares of Grab during the fourth quarter valued at about $25,000. Montag A & Associates Inc. acquired a new position in shares of Grab in the first quarter valued at approximately $27,000. Parallel Advisors LLC increased its stake in shares of Grab by 305.5% in the fourth quarter. Parallel Advisors LLC now owns 6,107 shares of the company’s stock valued at $30,000 after buying an additional 4,601 shares during the period. Signaturefd LLC raised its holdings in Grab by 64.6% in the 4th quarter. Signaturefd LLC now owns 6,479 shares of the company’s stock valued at $32,000 after buying an additional 2,543 shares during the last quarter. Finally, Advocate Investing Services LLC bought a new position in Grab in the 4th quarter valued at approximately $35,000. 55.52% of the stock is currently owned by institutional investors.

Grab Price Performance

GRAB stock opened at $3.73 on Friday. The company has a quick ratio of 1.65, a current ratio of 1.67 and a debt-to-equity ratio of 0.06. The firm has a market cap of $15.28 billion, a price-to-earnings ratio of 373.37, a PEG ratio of 1.47 and a beta of 0.87. The company’s fifty day simple moving average is $3.60 and its 200 day simple moving average is $3.96. Grab Holdings Limited has a 12-month low of $3.18 and a 12-month high of $6.62.

Grab (NASDAQ:GRAB) last posted its quarterly earnings data on Tuesday, May 5th. The company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.03). The business 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%. On average, analysts expect that Grab Holdings Limited will post 0.1 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. China Renaissance upgraded shares of Grab from a “hold” rating to a “buy” rating and set a $5.00 price target for the company in a research report on Wednesday, May 6th. Morgan Stanley reiterated an “overweight” rating and set a $6.25 price target on shares of Grab in a report on Tuesday, June 30th. Mizuho decreased their price objective on Grab from $7.00 to $6.00 and set an “outperform” rating for the company in a report on Tuesday, May 5th. Zacks Research upgraded Grab from a “strong sell” rating to a “hold” rating in a report on Tuesday, June 2nd. Finally, Barclays reduced their price target on Grab from $7.00 to $5.00 and set an “overweight” rating on the stock in a research report on Thursday, July 9th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $6.01.

Insider Buying and Selling at Grab

In other Grab news, CEO Anthony Ping Yeow Tan sold 400,000 shares of the business’s stock in a transaction that occurred on Friday, July 10th. The stock was sold at an average price of $3.91, for a total value of $1,564,000.00. Following the transaction, the chief executive officer directly owned 28,498 shares of the company’s stock, valued at approximately $111,427.18. The trade was a 93.35% 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. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Alexander Charles Hungate sold 144,093 shares of the stock in a transaction that occurred on Tuesday, June 23rd. The stock was sold at an average price of $3.45, for a total value of $497,120.85. Following the transaction, the chief operating officer owned 6,254,023 shares in the company, valued at $21,576,379.35. The trade was a 2.25% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 1,666,093 shares of company stock valued at $6,083,321 over the last ninety days. Insiders own 3.60% of the company’s stock.

Grab Company Profile

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.