Maplebear Inc. (NASDAQ:CART) Holdings Cut by First Dallas Securities Inc.

First Dallas Securities Inc. lessened its holdings in shares of Maplebear Inc. (NASDAQ:CART) by 36.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,700 shares of the company’s stock after selling 4,500 shares during the period. First Dallas Securities Inc.’s holdings in Maplebear were worth $319,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. Pacer Advisors Inc. bought a new stake in Maplebear during the third quarter worth approximately $158,701,000. Geode Capital Management LLC raised its holdings in Maplebear by 151.7% during the third quarter. Geode Capital Management LLC now owns 2,732,738 shares of the company’s stock worth $111,361,000 after purchasing an additional 1,647,081 shares in the last quarter. Maverick Capital Ltd. raised its holdings in Maplebear by 19.7% during the third quarter. Maverick Capital Ltd. now owns 2,684,425 shares of the company’s stock worth $109,363,000 after purchasing an additional 441,156 shares in the last quarter. State Street Corp grew its position in Maplebear by 48.3% in the third quarter. State Street Corp now owns 2,552,617 shares of the company’s stock worth $103,994,000 after buying an additional 831,795 shares during the last quarter. Finally, Southpoint Capital Advisors LP grew its position in Maplebear by 56.3% in the third quarter. Southpoint Capital Advisors LP now owns 2,500,000 shares of the company’s stock worth $101,850,000 after buying an additional 900,000 shares during the last quarter. Institutional investors own 63.09% of the company’s stock.

Insider Activity

In other news, CEO Fidji Simo sold 20,750 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $42.97, for a total transaction of $891,627.50. Following the completion of the transaction, the chief executive officer now directly owns 1,804,243 shares in the company, valued at $77,528,321.71. This trade represents a 1.14 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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 completion of the sale, the general counsel now owns 258,406 shares of the company’s stock, valued at $12,411,240.18. The trade was a 10.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 79,808 shares of company stock valued at $3,569,808. 36.00% of the stock is currently owned by company insiders.

Maplebear Stock Down 0.3 %

CART stock opened at $48.13 on Tuesday. The firm has a market capitalization of $12.36 billion, a PE ratio of 32.30, a PEG ratio of 1.09 and a beta of 1.07. Maplebear Inc. has a twelve month low of $23.59 and a twelve month high of $50.01. The stock has a 50-day simple moving average of $44.10 and a two-hundred day simple moving average of $40.69.

Maplebear (NASDAQ:CART) last issued its quarterly earnings data on Tuesday, November 12th. The company reported $0.42 EPS for the quarter, topping the consensus estimate of $0.22 by $0.20. The company 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% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($20.86) earnings per share. On average, equities research analysts anticipate that Maplebear Inc. will post 1.43 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. JMP Securities lifted their price target on shares of Maplebear from $42.00 to $51.00 and gave the stock a “market outperform” rating in a research report on Wednesday, November 13th. BMO Capital Markets lifted their price target on Maplebear from $39.00 to $48.00 and gave the company a “market perform” rating in a report on Wednesday, November 13th. Oppenheimer increased their price target on shares of Maplebear from $55.00 to $60.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Bank of America increased their price target 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. Finally, BTIG Research upgraded shares of Maplebear from a “neutral” rating to a “buy” rating and set a $58.00 target price on the stock in a research note on Tuesday, January 14th. Thirteen equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Maplebear has a consensus rating of “Moderate Buy” and an average target price of $48.96.

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.