Capstone Investment Advisors LLC Trims Stock Holdings in Maplebear Inc. (NASDAQ:CART)

Capstone Investment Advisors LLC decreased its position in Maplebear Inc. (NASDAQ:CARTFree Report) by 33.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 125,000 shares of the company’s stock after selling 62,280 shares during the quarter. Capstone Investment Advisors LLC’s holdings in Maplebear were worth $2,934,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CART. SC US Ttgp LTD. acquired a new position in shares of Maplebear in the third quarter valued at approximately $1,180,490,000. KPCB DGF II Associates LLC purchased a new position in shares of Maplebear during the 3rd quarter worth $119,544,000. Canaan Partners IX LLC acquired a new stake in shares of Maplebear during the fourth quarter worth $87,508,000. Norges Bank purchased a new stake in shares of Maplebear in the fourth quarter valued at $78,674,000. Finally, Technology Crossover Management XI Ltd. acquired a new position in Maplebear in the third quarter valued at $80,163,000. 63.09% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CART has been the topic of a number of research analyst reports. Robert W. Baird raised their price target on Maplebear from $31.00 to $44.00 and gave the stock an “outperform” rating in a research note on Monday, April 1st. Moffett Nathanson reaffirmed a “neutral” rating and set a $37.00 price target (up previously from $36.00) on shares of Maplebear in a research note on Thursday, April 11th. Barclays boosted their price objective on shares of Maplebear from $41.00 to $43.00 and gave the company an “overweight” rating in a research note on Thursday, May 9th. JMP Securities increased their target price on Maplebear from $35.00 to $42.00 and gave the stock a “market outperform” rating in a research report on Thursday, May 9th. Finally, Macquarie initiated coverage on Maplebear in a research report on Monday, March 25th. They set an “outperform” rating and a $42.00 price target for the company. Ten equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Maplebear has an average rating of “Moderate Buy” and a consensus target price of $41.05.

Check Out Our Latest Research Report on Maplebear

Maplebear Stock Performance

CART stock traded down $1.30 during midday trading on Wednesday, reaching $30.92. The company had a trading volume of 5,776,306 shares, compared to its average volume of 4,230,330. The stock has a 50 day moving average price of $35.68 and a 200 day moving average price of $29.93. Maplebear Inc. has a fifty-two week low of $22.13 and a fifty-two week high of $42.95.

Maplebear (NASDAQ:CARTGet Free Report) last released its quarterly earnings data on Wednesday, May 8th. The company reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.04 by $0.39. The company had revenue of $820.00 million for the quarter, compared to analyst estimates of $794.08 million. The business’s quarterly revenue was up 8.0% on a year-over-year basis. As a group, analysts anticipate that Maplebear Inc. will post 1.02 EPS for the current year.

Insider Transactions at Maplebear

In other Maplebear news, CAO Alan Ramsay sold 2,550 shares of the business’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $33.21, for a total transaction of $84,685.50. Following the completion of the transaction, the chief accounting officer now directly owns 113,086 shares of the company’s stock, valued at approximately $3,755,586.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Maplebear news, CFO Nick Giovanni sold 5,000 shares of the business’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $34.31, for a total transaction of $171,550.00. Following the sale, the chief financial officer now directly owns 591,977 shares in the company, valued at approximately $20,310,730.87. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Alan Ramsay sold 2,550 shares of the company’s stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $33.21, for a total transaction of $84,685.50. Following the completion of the sale, the chief accounting officer now directly owns 113,086 shares of the company’s stock, valued at $3,755,586.06. The disclosure for this sale can be found here. Over the last quarter, insiders sold 307,198 shares of company stock worth $11,033,262. Insiders own 36.00% of the company’s stock.

About Maplebear

(Free Report)

Maplebear Inc, doing business as Instacart, provides online grocery shopping services to households in North America. It sells and delivers grocery products. The company offers its services through a mobile application and website. It also provides software-as-a-service solutions to retailers. The company was incorporated in 2012 and is based in San Francisco, California.

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Institutional Ownership by Quarter for Maplebear (NASDAQ:CART)

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