BI Asset Management Fondsmaeglerselskab A S Trims Stock Position in Maplebear Inc. $CART

BI Asset Management Fondsmaeglerselskab A S lowered its stake in shares of Maplebear Inc. (NASDAQ:CART) by 84.8% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 16,448 shares of the company’s stock after selling 91,428 shares during the period. BI Asset Management Fondsmaeglerselskab A S’s holdings in Maplebear were worth $740,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. WINTON GROUP Ltd raised its stake in shares of Maplebear by 79.5% during the 4th quarter. WINTON GROUP Ltd now owns 144,698 shares of the company’s stock valued at $6,509,000 after buying an additional 64,065 shares during the last quarter. Parallel Advisors LLC raised its stake in shares of Maplebear by 2.1% during the 4th quarter. Parallel Advisors LLC now owns 31,103 shares of the company’s stock valued at $1,399,000 after buying an additional 626 shares during the last quarter. Prudential PLC raised its stake in shares of Maplebear by 118.5% during the 4th quarter. Prudential PLC now owns 67,652 shares of the company’s stock valued at $3,043,000 after buying an additional 36,687 shares during the last quarter. Daiwa Securities Group Inc. raised its stake in shares of Maplebear by 44.2% during the 4th quarter. Daiwa Securities Group Inc. now owns 21,912 shares of the company’s stock valued at $985,000 after buying an additional 6,712 shares during the last quarter. Finally, Sivia Capital Partners LLC increased its stake in shares of Maplebear by 30.6% in the 4th quarter. Sivia Capital Partners LLC now owns 11,805 shares of the company’s stock valued at $531,000 after purchasing an additional 2,769 shares in the last quarter. Hedge funds and other institutional investors own 63.09% of the company’s stock.

Insider Activity at Maplebear

In other news, CAO Lisa Blackwood-Kapral sold 9,390 shares of the business’s stock in a transaction that occurred on Wednesday, April 15th. The stock was sold at an average price of $40.25, for a total transaction of $377,947.50. Following the transaction, 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ravi Gupta sold 181,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $41.51, for a total value of $7,513,310.00. Following the transaction, the director owned 741,523 shares in the company, valued at approximately $30,780,619.73. This represents a 19.62% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 199,780 shares of company stock worth $8,255,026. Insiders own 24.00% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. Argus upgraded Maplebear to a “strong-buy” rating in a research note on Thursday, March 5th. Needham & Company LLC restated a “buy” rating and issued a $55.00 price target on shares of Maplebear in a research note on Thursday, May 7th. Wall Street Zen lowered Maplebear from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Weiss Ratings upgraded Maplebear from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, May 11th. Finally, Barclays lifted their price target on Maplebear from $65.00 to $69.00 and gave the company an “overweight” rating in a research note on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Maplebear currently has an average rating of “Moderate Buy” and an average price target of $51.09.

Maplebear Price Performance

Shares of Maplebear stock opened at $41.21 on Thursday. The stock has a market cap of $9.69 billion, a P/E ratio of 23.02, a P/E/G ratio of 0.58 and a beta of 0.88. The stock’s 50 day simple moving average is $40.84 and its 200-day simple moving average is $40.25. Maplebear Inc. has a 1-year low of $32.73 and a 1-year high of $53.50.

Maplebear (NASDAQ:CART) last issued its earnings results on Wednesday, May 6th. The company reported $0.57 earnings per share for the quarter, missing the consensus estimate of $0.58 by ($0.01). The company had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.01 billion. Maplebear had a return on equity of 18.67% and a net margin of 12.50%.The company’s revenue for the quarter was up 13.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.37 earnings per share. As a group, research analysts expect that Maplebear Inc. will post 2.45 EPS 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.