Maplebear Inc. (NASDAQ:CART) Shares Sold by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC lowered its position in shares of Maplebear Inc. (NASDAQ:CART) by 13.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 56,308 shares of the company’s stock after selling 8,635 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Maplebear were worth $2,332,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Portman Ltd acquired a new position in shares of Maplebear during the third quarter valued at approximately $3,196,000. State Street Corp raised its holdings in shares of Maplebear by 48.3% during the third quarter. State Street Corp now owns 2,552,617 shares of the company’s stock valued at $103,994,000 after acquiring an additional 831,795 shares during the last quarter. Cerity Partners LLC acquired a new position in shares of Maplebear during the third quarter valued at approximately $1,442,000. Charles Schwab Investment Management Inc. increased its holdings in shares of Maplebear by 5,191.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,489,655 shares of the company’s stock valued at $60,689,000 after purchasing an additional 1,461,501 shares during the last quarter. Finally, Zacks Investment Management purchased a new position in Maplebear during the third quarter worth approximately $4,853,000. Institutional investors and hedge funds own 63.09% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on CART shares. Loop Capital upped their target price on Maplebear from $49.00 to $56.00 and gave the company a “buy” rating in a report on Monday, December 9th. Robert W. Baird upped their price objective on shares of Maplebear from $44.00 to $51.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Bank of America lifted their target price on shares of Maplebear from $50.00 to $51.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 13th. Stifel Nicolaus raised their price target on shares of Maplebear from $52.00 to $55.00 and gave the stock a “buy” rating in a report on Monday, October 28th. Finally, Macquarie upped their price objective on Maplebear from $50.00 to $52.00 and gave the company an “outperform” rating in a report on Thursday, November 14th. Thirteen research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Maplebear has an average rating of “Moderate Buy” and an average price target of $48.96.

Maplebear Trading Up 1.2 %

NASDAQ:CART opened at $45.99 on Monday. The firm has a market cap of $11.81 billion, a PE ratio of 30.87, a price-to-earnings-growth ratio of 1.01 and a beta of 1.04. The stock has a fifty day moving average price of $43.58 and a 200 day moving average price of $40.21. Maplebear Inc. has a 12-month low of $23.59 and a 12-month high of $50.01.

Maplebear (NASDAQ:CART) last released its earnings results on Tuesday, November 12th. The company reported $0.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.20. The firm had revenue of $852.00 million during the quarter, compared to analyst estimates of $844.03 million. Maplebear had a return on equity of 13.78% and a net margin of 13.37%. Maplebear’s revenue was up 11.5% compared to the same quarter last year. During the same period last year, the business posted ($20.86) earnings per share. Equities analysts forecast that Maplebear Inc. will post 1.42 EPS for the current year.

Insider Activity at Maplebear

In other Maplebear news, CAO Alan Ramsay sold 2,314 shares of Maplebear stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $46.28, for a total transaction of $107,091.92. Following the completion of the sale, the chief accounting officer now directly owns 85,421 shares of the company’s stock, valued at $3,953,283.88. The trade was a 2.64 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Morgan Fong sold 29,253 shares of Maplebear stock in a transaction dated 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 sale, the general counsel now directly owns 258,406 shares of the company’s stock, valued at $12,411,240.18. This trade represents a 10.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 100,558 shares of company stock worth $4,490,901. Company insiders own 36.00% of the company’s stock.

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.