Maplebear Inc. $CART Shares Sold by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. cut its holdings in Maplebear Inc. (NASDAQ:CART) by 28.2% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 74,212 shares of the company’s stock after selling 29,085 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Maplebear were worth $3,338,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in CART. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Maplebear by 19.0% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 90,668 shares of the company’s stock valued at $4,027,000 after acquiring an additional 14,485 shares in the last quarter. Nordea Investment Management AB boosted its stake in Maplebear by 14.9% in the 4th quarter. Nordea Investment Management AB now owns 137,656 shares of the company’s stock worth $6,226,000 after purchasing an additional 17,828 shares in the last quarter. GAMMA Investing LLC grew its position in Maplebear by 20.3% during the 4th quarter. GAMMA Investing LLC now owns 3,444 shares of the company’s stock worth $155,000 after purchasing an additional 581 shares during the last quarter. JPMorgan Chase & Co. increased its stake in Maplebear by 27.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,328,968 shares of the company’s stock valued at $48,853,000 after purchasing an additional 288,839 shares in the last quarter. Finally, New Mexico Educational Retirement Board increased its stake in Maplebear by 14.4% during the 3rd quarter. New Mexico Educational Retirement Board now owns 38,100 shares of the company’s stock valued at $1,401,000 after purchasing an additional 4,800 shares in the last quarter. 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 research analyst reports. Cantor Fitzgerald boosted their price objective on shares of Maplebear from $45.00 to $54.00 and gave the company an “overweight” rating in a report on Thursday, January 8th. Argus upgraded Maplebear to a “strong-buy” rating in a research note on Thursday, March 5th. Needham & Company LLC increased their price objective on Maplebear from $50.00 to $55.00 and gave the company a “buy” rating in a report on Friday, February 13th. Stifel Nicolaus reduced their price objective on Maplebear from $49.00 to $46.00 and set a “buy” rating for the company in a research note on Tuesday, January 27th. Finally, Wall Street Zen raised Maplebear from a “hold” rating to a “buy” rating in a report on Saturday, February 14th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, ten have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, Maplebear has an average rating of “Moderate Buy” and an average target price of $51.33.

Maplebear Price Performance

NASDAQ:CART opened at $35.72 on Monday. The company has a 50 day moving average price of $37.01 and a 200-day moving average price of $39.92. Maplebear Inc. has a 1-year low of $32.73 and a 1-year high of $53.50. The firm has a market cap of $8.59 billion, a price-to-earnings ratio of 22.47, a price-to-earnings-growth ratio of 0.55 and a beta of 0.98.

Insider Buying and Selling at Maplebear

In other Maplebear news, General Counsel Morgan Fong sold 126,083 shares of Maplebear stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $37.09, for a total value of $4,676,418.47. Following the completion of the transaction, the general counsel owned 386,643 shares of the company’s stock, valued at approximately $14,340,588.87. The trade was a 24.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Lisa Blackwood-Kapral sold 9,390 shares of the company’s stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $38.74, for a total transaction of $363,768.60. Following the completion of the transaction, the chief accounting officer owned 47,510 shares of the company’s stock, valued at approximately $1,840,537.40. This trade represents a 16.50% decrease in their position. The disclosure for this sale is available in the SEC filing. 26.00% of the stock is currently owned by company insiders.

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.