HighTower Advisors LLC Lowers Stock Holdings in Maplebear Inc. $CART

HighTower Advisors LLC decreased its position in shares of Maplebear Inc. (NASDAQ:CART) by 26.9% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 110,114 shares of the company’s stock after selling 40,524 shares during the quarter. HighTower Advisors LLC’s holdings in Maplebear were worth $4,953,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in CART. Hantz Financial Services Inc. boosted its stake in shares of Maplebear by 78.6% in the third quarter. Hantz Financial Services Inc. now owns 884 shares of the company’s stock worth $32,000 after acquiring an additional 389 shares during the period. Allworth Financial LP boosted its stake in shares of Maplebear by 35.7% in the third quarter. Allworth Financial LP now owns 928 shares of the company’s stock worth $34,000 after acquiring an additional 244 shares during the period. Abich Financial Wealth Management LLC bought a new position in shares of Maplebear in the third quarter worth about $43,000. Sunbelt Securities Inc. boosted its stake in shares of Maplebear by 212.7% in the third quarter. Sunbelt Securities Inc. now owns 1,157 shares of the company’s stock worth $43,000 after acquiring an additional 787 shares during the period. Finally, NewEdge Advisors LLC boosted its stake in shares of Maplebear by 71.6% in the first quarter. NewEdge Advisors LLC now owns 1,673 shares of the company’s stock worth $67,000 after acquiring an additional 698 shares during the period. Institutional investors own 63.09% of the company’s stock.

Analysts Set New Price Targets

CART has been the subject of a number of recent analyst reports. Argus raised Maplebear to a “strong-buy” rating in a research note on Thursday, March 5th. Weiss Ratings raised shares of Maplebear from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, May 11th. Barclays raised their target price on shares of Maplebear from $65.00 to $69.00 and gave the company an “overweight” rating in a research note on Thursday, May 7th. Raymond James Financial raised shares of Maplebear from a “hold” rating to a “moderate buy” rating in a report on Thursday, April 9th. Finally, Benchmark dropped their price objective on shares of Maplebear from $60.00 to $53.00 and set a “buy” rating for the company in a report on Tuesday, February 10th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $51.09.

Insider Transactions at Maplebear

In other news, CAO Lisa Blackwood-Kapral sold 9,390 shares of the business’s stock in a transaction dated Wednesday, April 15th. The shares were sold at an average price of $40.25, for a total value of $377,947.50. Following the sale, the chief accounting officer directly owned 58,971 shares in the company, valued at $2,373,582.75. The trade was a 13.74% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Morgan Fong sold 126,083 shares of the business’s stock in a transaction dated Wednesday, March 11th. The stock was sold at an average price of $37.09, for a total transaction of $4,676,418.47. Following the completion of the sale, the general counsel owned 386,643 shares in the company, valued at approximately $14,340,588.87. This trade represents a 24.59% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 144,863 shares of company stock worth $5,418,135. Insiders own 24.00% of the company’s stock.

Maplebear Stock Down 1.2%

CART opened at $39.94 on Friday. The firm has a 50-day simple moving average of $40.04 and a two-hundred day simple moving average of $40.17. Maplebear Inc. has a 52 week low of $32.73 and a 52 week high of $53.50. The company has a market capitalization of $9.39 billion, a PE ratio of 22.31, a price-to-earnings-growth ratio of 0.56 and a beta of 0.96.

Maplebear (NASDAQ:CART) last posted its earnings results on Wednesday, May 6th. The company reported $0.57 earnings per share for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.01). Maplebear had a return on equity of 18.67% and a net margin of 12.50%.The business had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.01 billion. During the same quarter last year, the firm earned $0.37 earnings per share. The business’s quarterly revenue was up 13.6% on a year-over-year basis. As a group, sell-side analysts expect that Maplebear Inc. will post 2.43 earnings per share for the current year.

Maplebear 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.