Maplebear Inc. $CART Shares Sold by Assetmark Inc.

Assetmark Inc. lowered its position in shares of Maplebear Inc. (NASDAQ:CART) by 9.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 84,294 shares of the company’s stock after selling 9,187 shares during the period. Assetmark Inc.’s holdings in Maplebear were worth $3,813,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of CART. Brooklyn Investment Group purchased a new stake in Maplebear in the first quarter valued at $40,000. CWM LLC lifted its position in Maplebear by 35.1% in the first quarter. CWM LLC now owns 1,058 shares of the company’s stock valued at $42,000 after acquiring an additional 275 shares during the last quarter. Fifth Third Bancorp increased its position in Maplebear by 123.7% in the 2nd quarter. Fifth Third Bancorp now owns 1,190 shares of the company’s stock valued at $54,000 after acquiring an additional 658 shares during the period. GAMMA Investing LLC grew its stake in shares of Maplebear by 87.1% in the 1st quarter. GAMMA Investing LLC now owns 1,334 shares of the company’s stock valued at $53,000 after purchasing an additional 621 shares during the last quarter. Finally, Signaturefd LLC increased its stake in Maplebear by 27.1% in the 1st quarter. Signaturefd LLC now owns 1,335 shares of the company’s stock valued at $53,000 after buying an additional 285 shares during the period. Institutional investors and hedge funds own 63.09% of the company’s stock.

Maplebear Price Performance

Shares of NASDAQ CART opened at $37.44 on Tuesday. The company has a market capitalization of $9.86 billion, a PE ratio of 21.64, a price-to-earnings-growth ratio of 1.13 and a beta of 1.10. The firm’s 50-day moving average is $41.20 and its two-hundred day moving average is $44.16. Maplebear Inc. has a 12-month low of $34.87 and a 12-month high of $53.50.

Maplebear (NASDAQ:CART) last announced its quarterly earnings data on Thursday, August 7th. The company reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.02. The business had revenue of $914.00 million for the quarter, compared to the consensus estimate of $896.55 million. Maplebear had a net margin of 13.76% and a return on equity of 15.69%. The company’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.20 earnings per share. On average, analysts forecast that Maplebear Inc. will post 1.43 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

CART has been the topic of a number of recent analyst reports. Guggenheim initiated coverage on shares of Maplebear in a research note on Wednesday, October 15th. They set a “neutral” rating and a $40.00 price target on the stock. Needham & Company LLC upped their target price on shares of Maplebear from $56.00 to $66.00 and gave the stock a “buy” rating in a research report on Friday, August 8th. Robert W. Baird lowered their target price on shares of Maplebear from $60.00 to $50.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 1st. Barclays upped their target price on shares of Maplebear from $61.00 to $65.00 and gave the stock an “overweight” rating in a research report on Friday, August 8th. Finally, Mizuho began coverage on shares of Maplebear in a report on Tuesday, September 30th. They issued a “neutral” rating and a $45.00 price target on the stock. Two research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $52.12.

Insider Activity at Maplebear

In related news, General Counsel Morgan Fong sold 3,546 shares of the company’s stock in a transaction that occurred on Monday, October 20th. The shares were sold at an average price of $38.85, for a total transaction of $137,762.10. Following the transaction, the general counsel owned 427,523 shares of the company’s stock, valued at approximately $16,609,268.55. This represents a 0.82% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Fidji Simo sold 7,140 shares of the company’s stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $47.30, for a total transaction of $337,722.00. Following the transaction, the director directly owned 573,807 shares in the company, valued at $27,141,071.10. The trade was a 1.23% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 27,556 shares of company stock valued at $1,179,482. Company insiders own 26.00% of the company’s stock.

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.