Principal Financial Group Inc. Purchases 8,244,732 Shares of Grab Holdings Limited $GRAB

Principal Financial Group Inc. grew its holdings in Grab Holdings Limited (NASDAQ:GRAB) by 62.6% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 21,422,123 shares of the company’s stock after acquiring an additional 8,244,732 shares during the quarter. Principal Financial Group Inc. owned 0.52% of Grab worth $78,405,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. OVERSEA CHINESE BANKING Corp Ltd increased its holdings in shares of Grab by 9.8% during the fourth quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 11,821,595 shares of the company’s stock worth $58,928,000 after purchasing an additional 1,050,619 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in shares of Grab by 98.6% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 7,478,218 shares of the company’s stock valued at $37,316,000 after buying an additional 3,711,860 shares during the period. SG Americas Securities LLC boosted its stake 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 valued at $23,154,000 after buying an additional 1,531,017 shares during the period. Tudor Investment Corp ET AL grew its position in Grab by 53.0% during the third quarter. Tudor Investment Corp ET AL now owns 2,021,302 shares of the company’s stock worth $12,168,000 after buying an additional 700,130 shares in the last quarter. Finally, Jennison Associates LLC acquired a new stake in Grab during the fourth quarter worth approximately $18,919,000. 55.52% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

GRAB has been the topic of a number of recent research reports. Barclays lowered their price objective on Grab from $7.00 to $5.00 and set an “overweight” rating on the stock in a research note on Thursday, July 9th. Morgan Stanley reissued an “overweight” rating and set a $6.25 target price on shares of Grab in a report on Tuesday, June 30th. Mizuho decreased their price target on Grab from $7.00 to $6.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 5th. China Renaissance raised Grab from a “hold” rating to a “buy” rating and set a $5.00 price target for the company in a research note on Wednesday, May 6th. Finally, Zacks Research raised shares of Grab from a “strong sell” rating to a “hold” rating in a research report on Tuesday, June 2nd. One 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, Grab presently has an average rating of “Moderate Buy” and an average price target of $6.01.

Insiders Place Their Bets

In related news, CEO Anthony Ping Yeow Tan sold 400,000 shares of Grab stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $3.51, for a total transaction of $1,404,000.00. Following the sale, the chief executive officer directly owned 425,193 shares of the company’s stock, valued at approximately $1,492,427.43. The trade was a 48.47% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available 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 company’s stock in a transaction that occurred on Tuesday, June 23rd. The stock was sold at an average price of $3.45, for a total transaction of $497,120.85. Following the transaction, the chief operating officer owned 6,254,023 shares of the company’s stock, valued at approximately $21,576,379.35. This represents a 2.25% 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. Insiders sold a total of 1,666,093 shares of company stock worth $6,083,321 in the last ninety days. Insiders own 3.60% of the company’s stock.

Grab Trading Down 2.4%

Shares of GRAB stock opened at $3.73 on Friday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.65 and a current ratio of 1.67. Grab Holdings Limited has a fifty-two week low of $3.18 and a fifty-two week high of $6.62. The company has a market cap of $15.28 billion, a PE ratio of 373.37, a P/E/G ratio of 1.47 and a beta of 0.87. The stock’s fifty day moving average price is $3.60 and its two-hundred day moving average price is $3.96.

Grab (NASDAQ:GRAB) last announced 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 for 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 predict that Grab Holdings Limited will post 0.1 EPS for the current fiscal year.

Grab 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.