Maplebear Inc. (NASDAQ:CART) Shares Sold by ING Groep NV

ING Groep NV lowered its position in Maplebear Inc. (NASDAQ:CART) by 65.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 54,200 shares of the company’s stock after selling 104,400 shares during the quarter. ING Groep NV’s holdings in Maplebear were worth $2,245,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Handelsbanken Fonder AB acquired a new position in shares of Maplebear in the 4th quarter valued at about $1,508,000. Ieq Capital LLC increased its position in Maplebear by 1.9% during the 4th quarter. Ieq Capital LLC now owns 225,957 shares of the company’s stock worth $9,359,000 after purchasing an additional 4,140 shares in the last quarter. Atria Wealth Solutions Inc. raised its holdings in Maplebear by 10.8% in the fourth quarter. Atria Wealth Solutions Inc. now owns 17,765 shares of the company’s stock valued at $736,000 after buying an additional 1,738 shares during the period. Kornitzer Capital Management Inc. KS lifted its position in Maplebear by 19.5% during the fourth quarter. Kornitzer Capital Management Inc. KS now owns 245,000 shares of the company’s stock valued at $10,148,000 after buying an additional 40,000 shares in the last quarter. Finally, CIBC Asset Management Inc grew its stake in Maplebear by 5.4% during the fourth quarter. CIBC Asset Management Inc now owns 8,554 shares of the company’s stock worth $354,000 after buying an additional 440 shares during the period. Hedge funds and other institutional investors own 63.09% of the company’s stock.

Insider Activity

In other news, CEO Fidji Simo sold 20,750 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were 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 owns 1,804,243 shares in the company, valued at approximately $77,528,321.71. This represents a 1.14 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Alan Ramsay sold 2,314 shares of the company’s 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 transaction, the chief accounting officer now owns 85,421 shares of the company’s stock, valued at $3,953,283.88. This represents a 2.64 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 46,061 shares of company stock valued at $1,980,263. 36.00% of the stock is currently owned by insiders.

Maplebear Stock Down 0.4 %

CART opened at $52.32 on Friday. The company’s 50-day moving average price is $46.20 and its 200 day moving average price is $42.37. Maplebear Inc. has a fifty-two week low of $28.56 and a fifty-two week high of $53.44. The firm has a market cap of $13.44 billion, a price-to-earnings ratio of 35.11, a price-to-earnings-growth ratio of 1.19 and a beta of 1.07.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on CART shares. 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 report on Tuesday, January 14th. Barclays raised their price objective on Maplebear from $48.00 to $56.00 and gave the company an “overweight” rating in a research report on Wednesday, November 13th. Mizuho started coverage on Maplebear in a research report on Tuesday, January 14th. They issued an “outperform” rating and a $55.00 target price for the company. Morgan Stanley raised their target price on Maplebear from $41.00 to $44.00 and gave the company an “equal weight” rating in a report on Monday, January 13th. Finally, Stifel Nicolaus upped their price target on Maplebear from $52.00 to $55.00 and gave the stock a “buy” rating in a report on Monday, October 28th. Thirteen analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $48.96.

Maplebear Company 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.