Maplebear Inc. (NASDAQ:CART) Stake Decreased by Intellectus Partners LLC

Intellectus Partners LLC cut its holdings in shares of Maplebear Inc. (NASDAQ:CART) by 6.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 25,000 shares of the company’s stock after selling 1,690 shares during the period. Intellectus Partners LLC’s holdings in Maplebear were worth $1,018,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Huntington National Bank acquired a new position in Maplebear during the 3rd quarter worth $54,000. nVerses Capital LLC raised its stake in shares of Maplebear by 1,600.0% during the second quarter. nVerses Capital LLC now owns 1,700 shares of the company’s stock valued at $55,000 after purchasing an additional 1,600 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Maplebear in the third quarter worth about $74,000. Quarry LP grew its position in Maplebear by 269.5% in 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 in the last quarter. Finally, Watts Gwilliam & Co. LLC acquired a new position in Maplebear during the 3rd quarter valued at about $231,000. 63.09% of the stock is owned by institutional investors.

Maplebear Price Performance

NASDAQ:CART opened at $42.93 on Friday. The stock has a market cap of $11.20 billion, a PE ratio of 28.81, a price-to-earnings-growth ratio of 1.30 and a beta of 1.12. Maplebear Inc. has a fifty-two week low of $22.13 and a fifty-two week high of $50.01. The stock’s 50-day moving average is $41.85 and its two-hundred day moving average is $36.51.

Maplebear (NASDAQ:CART) last released its quarterly earnings data on Tuesday, November 12th. The company reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.20. The firm had revenue of $852.00 million for the quarter, compared to analyst estimates of $844.03 million. Maplebear had a net margin of 13.37% and a return on equity of 13.32%. The company’s revenue for the quarter was up 11.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($20.86) EPS. On average, equities research analysts anticipate that Maplebear Inc. will post 1.2 earnings per share for the current year.

Insider Transactions at Maplebear

In related news, General Counsel Morgan Fong sold 29,253 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $48.03, for a total value of $1,405,021.59. Following the completion of the sale, the general counsel now owns 258,406 shares of the company’s stock, valued at approximately $12,411,240.18. The trade was a 10.17 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Fidji Simo sold 33,000 shares of the stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $35.27, for a total value of $1,163,910.00. Following the completion of the transaction, the chief executive officer now owns 1,844,778 shares in the company, valued at $65,065,320.06. This represents a 1.76 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 118,710 shares of company stock valued at $4,978,164. 36.00% of the stock is owned by insiders.

Analysts Set New Price Targets

CART has been the subject of a number of research analyst reports. JPMorgan Chase & Co. upped their price target on shares of Maplebear from $47.00 to $52.00 and gave the stock an “overweight” rating in a research note on Wednesday. Oppenheimer upped their target price on Maplebear from $55.00 to $60.00 and gave the stock an “outperform” rating in a research report on Wednesday. Barclays lifted their price target on Maplebear from $48.00 to $56.00 and gave the company an “overweight” rating in a research report on Wednesday. Bank of America upped their price objective on Maplebear from $50.00 to $51.00 and gave the company a “neutral” rating in a report on Wednesday. Finally, Stifel Nicolaus lifted their target price on Maplebear from $52.00 to $55.00 and gave the stock a “buy” rating in a report on Monday, October 28th. Twelve analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, Maplebear currently has a consensus rating of “Moderate Buy” and a consensus target price of $47.29.

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.