Price T Rowe Associates Inc. MD Sells 1,306,393 Shares of Maplebear Inc. (NASDAQ:CART)

Price T Rowe Associates Inc. MD lessened its stake in Maplebear Inc. (NASDAQ:CART) by 24.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,953,616 shares of the company’s stock after selling 1,306,393 shares during the period. Price T Rowe Associates Inc. MD owned approximately 1.48% of Maplebear worth $147,431,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Norges Bank bought a new stake in Maplebear in the 4th quarter worth approximately $78,674,000. GSA Capital Partners LLP bought a new stake in Maplebear in the 1st quarter worth approximately $1,673,000. Nomura Holdings Inc. bought a new stake in Maplebear in the 4th quarter worth approximately $587,000. Capstone Investment Advisors LLC grew its position in shares of Maplebear by 37.7% during the 1st quarter. Capstone Investment Advisors LLC now owns 172,134 shares of the company’s stock valued at $6,419,000 after acquiring an additional 47,134 shares during the period. Finally, Hodges Capital Management Inc. bought a new stake in shares of Maplebear during the 1st quarter valued at $6,211,000. Institutional investors own 63.09% of the company’s stock.

Insider Transactions at Maplebear

In other news, CAO Alan Ramsay sold 12,178 shares of the business’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $34.90, for a total transaction of $425,012.20. Following the completion of the transaction, the chief accounting officer now directly owns 118,142 shares of the company’s stock, valued at $4,123,155.80. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, General Counsel Morgan Fong sold 9,506 shares of the stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $35.02, for a total value of $332,900.12. Following the completion of the sale, the general counsel now directly owns 372,335 shares of the company’s stock, valued at $13,039,171.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Alan Ramsay sold 12,178 shares of the stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $34.90, for a total value of $425,012.20. Following the completion of the sale, the chief accounting officer now directly owns 118,142 shares of the company’s stock, valued at $4,123,155.80. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 68,802 shares of company stock valued at $2,334,076. 36.00% of the stock is currently owned by corporate insiders.

Maplebear Stock Up 0.1 %

NASDAQ:CART traded up $0.05 on Monday, reaching $34.37. 288,691 shares of the company’s stock were exchanged, compared to its average volume of 4,126,848. The business has a fifty day moving average of $33.18 and a 200-day moving average of $32.62. Maplebear Inc. has a 52-week low of $22.13 and a 52-week high of $42.95.

Maplebear (NASDAQ:CART) last issued its quarterly earnings results on Wednesday, May 8th. The company reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.04 by $0.39. The business had revenue of $820.00 million for the quarter, compared to analysts’ expectations of $794.08 million. The company’s revenue was up 8.0% compared to the same quarter last year. Analysts predict that Maplebear Inc. will post 1.02 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Citigroup boosted their price objective on shares of Maplebear from $42.00 to $44.00 and gave the company a “buy” rating in a research report on Thursday, May 9th. Loop Capital boosted their price objective on shares of Maplebear from $46.00 to $49.00 and gave the company a “buy” rating in a research report on Thursday, May 16th. Piper Sandler restated an “overweight” rating and set a $47.00 target price (up previously from $45.00) on shares of Maplebear in a research note on Thursday, May 9th. Barclays lifted their target price on shares of Maplebear from $41.00 to $43.00 and gave the company an “overweight” rating in a research note on Thursday, May 9th. Finally, Oppenheimer lifted their target price on shares of Maplebear from $36.00 to $48.00 and gave the company an “outperform” rating in a research note on Monday, April 29th. Eleven investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $41.60.

Maplebear Profile

Maplebear Inc, doing business as Instacart, provides online grocery shopping services to households in North America. It sells and delivers grocery products. The company offers its services through a mobile application and website. It also provides software-as-a-service solutions to retailers. The company was incorporated in 2012 and is based in San Francisco, California.