Alpine Woods Capital Investors LLC Has $312,000 Stock Position in Maplebear Inc. $CART

Alpine Woods Capital Investors LLC cut its stake in shares of Maplebear Inc. (NASDAQ:CART) by 82.3% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 8,501 shares of the company’s stock after selling 39,431 shares during the quarter. Alpine Woods Capital Investors LLC’s holdings in Maplebear were worth $312,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. JPMorgan Chase & Co. raised its stake in Maplebear by 7.5% during the second quarter. JPMorgan Chase & Co. now owns 1,040,129 shares of the company’s stock worth $47,055,000 after buying an additional 72,643 shares during the last quarter. Champlain Investment Partners LLC grew its position in Maplebear by 64.4% in the 2nd quarter. Champlain Investment Partners LLC now owns 2,157,010 shares of the company’s stock valued at $97,583,000 after purchasing an additional 845,070 shares during the period. Sentry Investment Management LLC acquired a new stake in Maplebear in the 2nd quarter valued at $391,000. Mitsubishi UFJ Trust & Banking Corp lifted its stake in shares of Maplebear by 261.8% in the second quarter. Mitsubishi UFJ Trust & Banking Corp now owns 99,868 shares of the company’s stock valued at $4,518,000 after buying an additional 72,265 shares in the last quarter. Finally, Norges Bank acquired a new position in Maplebear during the 2nd quarter valued at about $97,351,000. Institutional investors and hedge funds own 63.09% of the company’s stock.

Wall Street Analyst Weigh In

CART has been the topic of a number of recent analyst reports. Weiss Ratings reissued a “hold (c)” rating on shares of Maplebear in a research report on Monday. Mizuho began coverage on Maplebear in a research note on Tuesday, September 30th. They issued a “neutral” rating and a $45.00 price objective on the stock. Guggenheim assumed 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. Wall Street Zen cut shares of Maplebear from a “buy” rating to a “hold” rating in a research note on Monday, September 29th. Finally, Benchmark lowered their target price on shares of Maplebear from $67.00 to $60.00 and set a “buy” rating on the stock in a research note on Tuesday, November 11th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $52.21.

Insiders Place Their Bets

In related news, General Counsel Morgan Fong sold 4,914 shares of Maplebear stock in a transaction on Monday, December 22nd. The shares were sold at an average price of $45.21, for a total value of $222,161.94. Following the sale, the general counsel owned 404,940 shares in the company, valued at $18,307,337.40. The trade was a 1.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Fidji Simo sold 1,014 shares of the firm’s stock in a transaction that occurred on Thursday, October 16th. The shares were sold at an average price of $40.00, for a total value of $40,560.00. Following the completion of the transaction, the director owned 569,742 shares of the company’s stock, valued at approximately $22,789,680. The trade was a 0.18% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 12,525 shares of company stock valued at $521,304 in the last ninety days. 26.00% of the stock is currently owned by insiders.

Maplebear Trading Down 0.1%

CART opened at $45.01 on Thursday. Maplebear Inc. has a 12 month low of $34.78 and a 12 month high of $53.50. The business’s 50-day moving average price is $41.07 and its 200-day moving average price is $43.52. The company has a market cap of $11.82 billion, a P/E ratio of 24.73, a P/E/G ratio of 1.47 and a beta of 1.01.

Maplebear (NASDAQ:CART) last announced its quarterly earnings results on Monday, November 10th. The company reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.01. Maplebear had a net margin of 14.09% and a return on equity of 15.72%. The business had revenue of $939.00 million during the quarter, compared to analysts’ expectations of $933.76 million. During the same quarter in the prior year, the company posted $0.42 EPS. The firm’s revenue for the quarter was up 10.2% compared to the same quarter last year. Equities research analysts forecast that Maplebear Inc. will post 1.43 earnings per share for the current fiscal year.

About Maplebear

Maplebear, Inc, doing business as Instacart, operates a leading online grocery and essentials marketplace that connects consumers, retail partners and personal shoppers through its digital platform. The company enables customers to order groceries, household items and specialty products for same-day or scheduled delivery, as well as in-store pickup. By integrating its technology with retailers’ existing inventory and point-of-sale systems, Maplebear streamlines the shopping experience and provides real-time availability and pricing.

Founded in 2012 and headquartered in San Francisco, Maplebear has grown from a regional startup to a publicly traded company listed on NASDAQ under the ticker CART.