Maplebear Inc. $CART Shares Sold by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. lowered its position in shares of Maplebear Inc. (NASDAQ:CART) by 75.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,714 shares of the company’s stock after selling 17,130 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Maplebear were worth $210,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Securian Asset Management Inc. boosted its position in Maplebear by 2.1% during the second quarter. Securian Asset Management Inc. now owns 12,509 shares of the company’s stock worth $566,000 after acquiring an additional 252 shares during the last quarter. Smartleaf Asset Management LLC raised its holdings in Maplebear by 9.6% in the 2nd quarter. Smartleaf Asset Management LLC now owns 2,978 shares of the company’s stock valued at $134,000 after acquiring an additional 261 shares during the last quarter. Rafferty Asset Management LLC lifted its stake in Maplebear by 2.5% in the 2nd quarter. Rafferty Asset Management LLC now owns 11,000 shares of the company’s stock worth $498,000 after purchasing an additional 273 shares in the last quarter. Hantz Financial Services Inc. boosted its holdings in shares of Maplebear by 78.6% during the 3rd quarter. Hantz Financial Services Inc. now owns 884 shares of the company’s stock worth $32,000 after purchasing an additional 389 shares during the last quarter. Finally, ProShare Advisors LLC grew its position in shares of Maplebear by 5.7% in the second quarter. ProShare Advisors LLC now owns 7,284 shares of the company’s stock valued at $330,000 after purchasing an additional 390 shares in the last quarter. Hedge funds and other institutional investors own 63.09% of the company’s stock.

Maplebear Price Performance

NASDAQ CART opened at $35.56 on Friday. The stock has a market capitalization of $9.34 billion, a P/E ratio of 22.36, a PEG ratio of 0.55 and a beta of 1.00. The firm’s 50-day moving average is $40.51 and its two-hundred day moving average is $41.54. Maplebear Inc. has a 12 month low of $32.73 and a 12 month high of $53.50.

Analysts Set New Price Targets

A number of brokerages recently commented on CART. Citigroup reduced their price objective on Maplebear from $65.00 to $50.00 and set a “buy” rating on the stock in a research report on Tuesday, November 11th. Benchmark lowered their price target on shares of Maplebear from $60.00 to $53.00 and set a “buy” rating on the stock in a research report on Tuesday, February 10th. Wells Fargo & Company dropped their price objective on shares of Maplebear from $47.00 to $43.00 and set an “equal weight” rating for the company in a report on Friday, February 13th. Argus started coverage on shares of Maplebear in a research note on Wednesday, January 7th. They set a “buy” rating and a $52.00 target price on the stock. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Maplebear in a report on Monday, December 29th. Fifteen investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $51.38.

Insiders Place Their Bets

In other Maplebear news, General Counsel Morgan Fong sold 4,914 shares of the business’s stock in a transaction that occurred on Monday, December 22nd. The stock was 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 of the company’s stock, valued at $18,307,337.40. The trade was a 1.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 26.00% of the company’s stock.

Maplebear Company Profile

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.