Maplebear Inc. (NASDAQ:CART) Stock Position Lowered by Geode Capital Management LLC

Geode Capital Management LLC lessened its position in Maplebear Inc. (NASDAQ:CART) by 2.1% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,676,418 shares of the company’s stock after selling 56,320 shares during the quarter. Geode Capital Management LLC owned approximately 1.04% of Maplebear worth $110,893,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the company. Jones Financial Companies Lllp increased its stake in Maplebear by 46.6% in the 4th quarter. Jones Financial Companies Lllp now owns 698 shares of the company’s stock valued at $29,000 after buying an additional 222 shares during the period. Wilmington Savings Fund Society FSB acquired a new position in Maplebear in the 3rd quarter valued at approximately $33,000. Allworth Financial LP increased its stake in Maplebear by 101.4% in the 4th quarter. Allworth Financial LP now owns 834 shares of the company’s stock valued at $37,000 after buying an additional 420 shares during the period. Cullen Frost Bankers Inc. acquired a new position in Maplebear in the 4th quarter valued at approximately $62,000. Finally, PNC Financial Services Group Inc. increased its stake in shares of Maplebear by 243.3% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,399 shares of the company’s stock worth $141,000 after purchasing an additional 2,409 shares during the last quarter. Hedge funds and other institutional investors own 63.09% of the company’s stock.

Insider Buying and Selling at Maplebear

In other news, CAO Alan Ramsay sold 2,314 shares of Maplebear stock in a transaction that occurred on Tuesday, January 21st. The shares were 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 owns 85,421 shares in the company, 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 through this link. Also, CEO Fidji Simo sold 20,750 shares of Maplebear stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $43.31, for a total transaction of $898,682.50. Following the sale, the chief executive officer now owns 1,662,692 shares of the company’s stock, valued at approximately $72,011,190.52. This represents a 1.23 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 25,097 shares of company stock worth $1,087,094. 36.00% of the stock is currently owned by corporate insiders.

Maplebear Stock Up 5.2 %

Shares of Maplebear stock opened at $39.06 on Thursday. The stock has a market capitalization of $10.34 billion, a P/E ratio of 26.21, a price-to-earnings-growth ratio of 1.19 and a beta of 1.20. The company has a 50-day simple moving average of $43.02 and a 200 day simple moving average of $43.46. Maplebear Inc. has a 12-month low of $29.84 and a 12-month high of $53.44.

Maplebear (NASDAQ:CART) last posted its quarterly earnings data on Tuesday, February 25th. The company reported $0.53 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.16. The firm had revenue of $883.00 million during the quarter, compared to analysts’ expectations of $889.98 million. Maplebear had a net margin of 13.37% and a return on equity of 13.78%. On average, equities analysts anticipate that Maplebear Inc. will post 1.43 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. Barclays increased their price target on shares of Maplebear from $56.00 to $58.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 26th. Seaport Res Ptn upgraded shares of Maplebear to a “strong-buy” rating in a research note on Wednesday, February 12th. Mizuho dropped their price target on shares of Maplebear from $55.00 to $52.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 26th. Stifel Nicolaus increased their price target on shares of Maplebear from $56.00 to $57.00 and gave the stock a “buy” rating in a research note on Wednesday, February 26th. Finally, Oppenheimer dropped their price target on shares of Maplebear from $65.00 to $60.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 26th. Thirteen research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Maplebear currently has a consensus rating of “Moderate Buy” and a consensus price target of $49.88.

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.