Allspring Global Investments Holdings LLC Has $95.22 Million Stock Holdings in Grab Holdings Limited (NASDAQ:GRAB)

Allspring Global Investments Holdings LLC decreased its holdings in shares of Grab Holdings Limited (NASDAQ:GRAB) by 0.8% in the fourth quarter, Holdings Channel reports. The firm owned 20,089,304 shares of the company’s stock after selling 153,858 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Grab were worth $95,223,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in GRAB. Blue Trust Inc. lifted its position in shares of Grab by 53.6% during the 3rd quarter. Blue Trust Inc. now owns 9,767 shares of the company’s stock worth $35,000 after buying an additional 3,408 shares during the period. Traynor Capital Management Inc. bought a new position in shares of Grab during the third quarter valued at $41,000. SeaBridge Investment Advisors LLC acquired a new stake in shares of Grab in the 4th quarter valued at $48,000. Glenmede Trust Co. NA acquired a new stake in shares of Grab in the 3rd quarter valued at $53,000. Finally, Baldwin Wealth Partners LLC MA bought a new stake in shares of Grab in the 4th quarter worth about $67,000. 55.52% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently issued reports on GRAB shares. Daiwa Capital Markets assumed coverage on shares of Grab in a report on Wednesday, October 23rd. They set an “outperform” rating and a $4.60 price target for the company. Mizuho boosted their target price on Grab from $5.00 to $6.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Barclays raised their price target on Grab from $4.70 to $5.50 and gave the company an “overweight” rating in a report on Wednesday, November 13th. JPMorgan Chase & Co. downgraded Grab from an “overweight” rating to a “neutral” rating in a research report on Wednesday, February 5th. Finally, Bank of America upgraded Grab from an “underperform” rating to a “neutral” rating and increased their target price for the stock from $4.90 to $5.10 in a report on Tuesday, January 7th. Three research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $5.54.

Grab Price Performance

Grab stock opened at $5.00 on Thursday. The business’s 50-day simple moving average is $4.80 and its 200 day simple moving average is $4.20. The company has a quick ratio of 2.67, a current ratio of 2.70 and a debt-to-equity ratio of 0.04. The stock has a market cap of $20.14 billion, a price-to-earnings ratio of -250.00, a P/E/G ratio of 1.95 and a beta of 0.90. Grab Holdings Limited has a 12-month low of $2.98 and a 12-month high of $5.72.

Grab (NASDAQ:GRAB) last issued its earnings results on Monday, November 11th. The company reported $0.01 earnings per share (EPS) for the quarter. The company had revenue of $716.00 million for the quarter, compared to analyst estimates of $705.40 million. Grab had a negative net margin of 3.57% and a negative return on equity of 1.50%. During the same quarter last year, the firm earned ($0.02) EPS. As a group, research analysts anticipate that Grab Holdings Limited will post -0.02 earnings per share for the current year.

Grab Profile

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.