Industry Ventures L.L.C. Lowers Stock Holdings in Maplebear Inc. (NASDAQ:CART)

Industry Ventures L.L.C. decreased its holdings in Maplebear Inc. (NASDAQ:CART) by 18.2% in the 3rd quarter, Holdings Channel.com reports. The firm owned 802,443 shares of the company’s stock after selling 178,015 shares during the period. Maplebear makes up 75.7% of Industry Ventures L.L.C.’s investment portfolio, making the stock its largest position. Industry Ventures L.L.C.’s holdings in Maplebear were worth $32,692,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. nVerses Capital LLC increased its stake in Maplebear by 1,600.0% in the 2nd quarter. nVerses Capital LLC now owns 1,700 shares of the company’s stock worth $55,000 after acquiring an additional 1,600 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Maplebear in the third quarter worth approximately $74,000. Quarry LP raised its stake in Maplebear by 269.5% in the second quarter. Quarry LP now owns 3,928 shares of the company’s stock valued at $126,000 after purchasing an additional 2,865 shares in the last quarter. Watts Gwilliam & Co. LLC bought a new stake in Maplebear during the third quarter valued at approximately $231,000. Finally, Oppenheimer & Co. Inc. bought a new position in shares of Maplebear during the 1st quarter valued at about $213,000. 63.09% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Maplebear news, General Counsel Morgan Fong sold 11,325 shares of the stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $42.97, for a total value of $486,635.25. Following the transaction, the general counsel now directly owns 287,659 shares in the company, valued at $12,360,707.23. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CEO Fidji Simo sold 33,000 shares of Maplebear stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $35.27, for a total value of $1,163,910.00. Following the sale, the chief executive officer now owns 1,844,778 shares of the company’s stock, valued at $65,065,320.06. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Morgan Fong sold 11,325 shares of the firm’s stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $42.97, for a total value of $486,635.25. Following the completion of the sale, the general counsel now directly owns 287,659 shares of the company’s stock, valued at $12,360,707.23. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 68,707 shares of company stock worth $2,652,050 in the last 90 days. Corporate insiders own 36.00% of the company’s stock.

Maplebear Trading Up 0.4 %

NASDAQ:CART opened at $44.66 on Wednesday. The firm has a market cap of $11.82 billion and a P/E ratio of -2.26. The stock has a 50 day moving average of $39.44 and a two-hundred day moving average of $35.70. Maplebear Inc. has a 12 month low of $22.13 and a 12 month high of $45.20.

Maplebear (NASDAQ:CART) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.20 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.07. The business had revenue of $823.00 million during the quarter, compared to analysts’ expectations of $806.35 million. Maplebear had a negative net margin of 52.21% and a negative return on equity of 49.98%. The business’s revenue for the quarter was up 14.9% on a year-over-year basis. On average, research analysts forecast that Maplebear Inc. will post 1.14 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on CART. Piper Sandler raised their target price on Maplebear from $47.00 to $50.00 and gave the company an “overweight” rating in a research note on Wednesday, August 7th. Jefferies Financial Group assumed coverage on shares of Maplebear in a research report on Wednesday, October 16th. They set a “hold” rating and a $43.00 price target for the company. Raymond James started coverage on shares of Maplebear in a research report on Tuesday, September 24th. They issued a “market perform” rating on the stock. Macquarie boosted their price objective on shares of Maplebear from $44.00 to $45.00 and gave the company an “outperform” rating in a research report on Thursday, August 8th. Finally, Morgan Stanley lowered their target price on Maplebear from $45.00 to $41.00 and set an “equal weight” rating on the stock in a research report on Tuesday, September 24th. Twelve research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $43.57.

Maplebear Profile

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.