Maplebear Inc. (NASDAQ:CART) Shares Sold by Crestwood Capital Management L.P.

Crestwood Capital Management L.P. decreased its position in Maplebear Inc. (NASDAQ:CART) by 12.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 447,041 shares of the company’s stock after selling 63,138 shares during the quarter. Maplebear accounts for about 14.1% of Crestwood Capital Management L.P.’s investment portfolio, making the stock its largest holding. Crestwood Capital Management L.P.’s holdings in Maplebear were worth $18,212,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Huntington National Bank acquired a new stake in Maplebear in the third quarter valued at approximately $54,000. nVerses Capital LLC boosted its stake in shares of Maplebear by 1,600.0% during the 2nd quarter. nVerses Capital LLC now owns 1,700 shares of the company’s stock valued at $55,000 after buying an additional 1,600 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Maplebear during the 3rd quarter valued at approximately $74,000. Quarry LP boosted its stake in shares of Maplebear by 269.5% during the 2nd quarter. Quarry LP now owns 3,928 shares of the company’s stock valued at $126,000 after buying an additional 2,865 shares during the last quarter. Finally, Watts Gwilliam & Co. LLC purchased a new position in shares of Maplebear during the 3rd quarter valued at approximately $231,000. Institutional investors and hedge funds own 63.09% of the company’s stock.

Insider Activity

In related news, CEO Fidji Simo sold 33,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $35.27, for a total transaction of $1,163,910.00. Following the transaction, the chief executive officer now owns 1,844,778 shares in the company, valued at $65,065,320.06. This trade represents a 1.76 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Alan Ramsay sold 2,247 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $41.06, for a total transaction of $92,261.82. Following the transaction, the chief accounting officer now owns 89,982 shares in the company, valued at $3,694,660.92. This represents a 2.44 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 123,204 shares of company stock valued at $5,162,688. Company insiders own 36.00% of the company’s stock.

Maplebear Trading Up 0.9 %

CART opened at $43.61 on Tuesday. The business’s 50 day moving average is $42.95 and its 200-day moving average is $36.88. The stock has a market cap of $11.20 billion, a PE ratio of 29.27, a price-to-earnings-growth ratio of 1.12 and a beta of 1.12. Maplebear Inc. has a twelve month low of $22.13 and a twelve month high of $50.01.

Maplebear (NASDAQ:CART) last posted its earnings results on Tuesday, November 12th. The company reported $0.42 EPS for the quarter, beating the consensus estimate of $0.22 by $0.20. Maplebear had a return on equity of 13.78% and a net margin of 13.37%. The firm had revenue of $852.00 million for the quarter, compared to analysts’ expectations of $844.03 million. During the same period last year, the firm earned ($20.86) EPS. The firm’s revenue was up 11.5% compared to the same quarter last year. As a group, analysts forecast that Maplebear Inc. will post 1.4 EPS for the current year.

Analyst Ratings Changes

Several research firms have recently commented on CART. Stifel Nicolaus increased their target price on Maplebear from $52.00 to $55.00 and gave the company a “buy” rating in a research note on Monday, October 28th. Needham & Company LLC reiterated a “hold” rating on shares of Maplebear in a research note on Wednesday, November 13th. JMP Securities increased their target price on Maplebear from $42.00 to $51.00 and gave the company a “market outperform” rating in a research note on Wednesday, November 13th. Citigroup raised their price objective on Maplebear from $44.00 to $47.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. Finally, BMO Capital Markets boosted their target price on shares of Maplebear from $39.00 to $48.00 and gave the company a “market perform” rating in a research note on Wednesday, November 13th. Twelve analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $47.29.

About Maplebear

Maplebear Inc, doing business as Instacart, engages in the provision of online grocery shopping services to households in North America. It sells and delivers grocery products, as well as pickup services through a mobile application and website. It also operates virtual convenience stores; and provides software-as-a-service solutions to retailers.