Maplebear Inc. $CART Shares Sold by AMI Asset Management Corp

AMI Asset Management Corp lowered its position in Maplebear Inc. (NASDAQ:CART) by 7.5% during the 1st quarter, Holdings Channel.com reports. The firm owned 418,759 shares of the company’s stock after selling 34,017 shares during the quarter. AMI Asset Management Corp’s holdings in Maplebear were worth $15,687,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the business. Viking Global Investors LP purchased a new position in shares of Maplebear in the second quarter worth approximately $169,782,000. Marshall Wace LLP bought a new position in Maplebear during the fourth quarter valued at about $126,206,000. Holocene Advisors LP bought a new position in Maplebear in the 3rd quarter worth $90,167,000. Norges Bank acquired a new position in shares of Maplebear during the fourth quarter valued at about $97,221,000. Finally, Dimensional Fund Advisors LP raised its stake in Maplebear by 114.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,792,673 shares of the company’s stock worth $170,594,000 after acquiring an additional 2,026,567 shares in the last quarter. Institutional investors own 63.09% of the company’s stock.

Maplebear Stock Down 0.5%

CART opened at $47.23 on Tuesday. The company has a fifty day moving average of $42.09 and a 200-day moving average of $40.43. Maplebear Inc. has a twelve month low of $32.73 and a twelve month high of $53.50. The stock has a market cap of $11.10 billion, a PE ratio of 26.39, a price-to-earnings-growth ratio of 0.65 and a beta of 0.88.

Maplebear (NASDAQ:CART) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $0.57 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.01). Maplebear had a net margin of 12.50% and a return on equity of 18.67%. The business had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.01 billion. During the same period in the prior year, the firm earned $0.37 earnings per share. The firm’s revenue for the quarter was up 13.6% compared to the same quarter last year. Sell-side analysts anticipate that Maplebear Inc. will post 2.45 EPS for the current fiscal year.

Insider Activity at Maplebear

In other news, Director Ravi Gupta sold 181,000 shares of the firm’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 $30,780,619.73. This trade represents a 19.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Lisa Blackwood-Kapral sold 9,390 shares of the company’s stock in a transaction dated Wednesday, April 15th. The stock was sold at an average price of $40.25, for a total transaction of $377,947.50. Following the completion of the sale, the chief accounting officer directly owned 58,971 shares of the company’s stock, valued at $2,373,582.75. The trade was a 13.74% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 24.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on CART shares. Weiss Ratings raised Maplebear from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, May 11th. Argus raised Maplebear to a “strong-buy” rating in a research report on Thursday, March 5th. Citizens Jmp reiterated a “market outperform” rating and set a $60.00 price objective on shares of Maplebear in a research note on Monday, June 15th. Wells Fargo & Company raised their price objective on Maplebear from $45.00 to $47.00 and gave the company an “equal weight” rating in a research report on Thursday, May 7th. Finally, Raymond James Financial raised Maplebear from a “hold” rating to a “moderate buy” rating in a report on Thursday, April 9th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, nine have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, Maplebear presently has an average rating of “Moderate Buy” and an average target price of $51.09.

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.