BBR Partners LLC trimmed its stake in shares of Maplebear Inc. (NASDAQ:CART – Free Report) by 30.1% in the third quarter, Holdings Channel.com reports. The fund owned 16,897 shares of the company’s stock after selling 7,267 shares during the period. BBR Partners LLC’s holdings in Maplebear were worth $688,000 at the end of the most recent reporting period.
Other institutional investors have also modified their holdings of the company. Pacer Advisors Inc. acquired a new position in Maplebear during the third quarter worth $158,701,000. Sculptor Capital LP purchased a new position in shares of Maplebear in the second quarter valued at $77,361,000. Federated Hermes Inc. raised its stake in shares of Maplebear by 102.2% during the 2nd quarter. Federated Hermes Inc. now owns 1,734,264 shares of the company’s stock worth $55,739,000 after buying an additional 876,439 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Maplebear by 5,191.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,489,655 shares of the company’s stock worth $60,689,000 after buying an additional 1,461,501 shares in the last quarter. Finally, Industry Ventures L.L.C. grew its stake in Maplebear by 3.3% in the 2nd quarter. Industry Ventures L.L.C. now owns 980,458 shares of the company’s stock valued at $31,512,000 after acquiring an additional 31,175 shares during the last quarter. Hedge funds and other institutional investors own 63.09% of the company’s stock.
Analyst Upgrades and Downgrades
A number of equities analysts have issued reports on the stock. Benchmark restated a “hold” rating on shares of Maplebear in a research report on Wednesday, August 7th. Piper Sandler lifted their price objective on Maplebear from $50.00 to $58.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 13th. Wedbush increased their target price on Maplebear from $35.00 to $38.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. Needham & Company LLC reissued a “hold” rating on shares of Maplebear in a report on Wednesday, November 13th. Finally, BMO Capital Markets upped their price objective on Maplebear from $39.00 to $48.00 and gave the company a “market perform” rating in a research report on Wednesday, November 13th. Twelve research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, Maplebear currently has an average rating of “Moderate Buy” and a consensus target price of $47.29.
Maplebear Stock Down 0.2 %
CART stock opened at $43.44 on Thursday. The company has a market cap of $11.16 billion, a price-to-earnings ratio of 29.15, a PEG ratio of 1.13 and a beta of 1.12. The business has a fifty day simple moving average of $43.13 and a 200-day simple moving average of $36.99. Maplebear Inc. has a 52 week low of $22.13 and a 52 week high of $50.01.
Maplebear (NASDAQ:CART – Get Free Report) last posted its quarterly earnings results on Tuesday, November 12th. The company reported $0.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.20. The firm had revenue of $852.00 million during the quarter, compared to the consensus estimate of $844.03 million. Maplebear had a return on equity of 13.78% and a net margin of 13.37%. The firm’s quarterly revenue was up 11.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($20.86) earnings per share. As a group, analysts expect that Maplebear Inc. will post 1.4 earnings per share for the current fiscal year.
Insider Buying and Selling
In other Maplebear news, CAO Alan Ramsay sold 2,247 shares of the business’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $41.06, for a total transaction of $92,261.82. Following the transaction, the chief accounting officer now owns 89,982 shares in the company, valued at $3,694,660.92. The trade was a 2.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Fidji Simo sold 20,750 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $42.97, for a total value of $891,627.50. Following the completion of the sale, the chief executive officer now owns 1,804,243 shares of the company’s stock, valued at approximately $77,528,321.71. This trade represents a 1.14 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 110,954 shares of company stock valued at $4,890,405. 36.00% of the stock is currently owned by corporate insiders.
Maplebear Company Profile
Maplebear Inc, doing business as Instacart, engages in the provision of online grocery shopping services to households in North America. It sells and delivers grocery products, as well as pickup services through a mobile application and website. It also operates virtual convenience stores; and provides software-as-a-service solutions to retailers.
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