Maplebear Inc. $CART Shares Sold by Vinva Investment Management Ltd

Vinva Investment Management Ltd decreased its position in Maplebear Inc. (NASDAQ:CART) by 22.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,525 shares of the company’s stock after selling 4,209 shares during the period. Vinva Investment Management Ltd’s holdings in Maplebear were worth $657,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Brooklyn Investment Group acquired a new position in Maplebear in the first quarter valued at approximately $40,000. CWM LLC increased its stake in Maplebear by 35.1% during the first quarter. CWM LLC now owns 1,058 shares of the company’s stock worth $42,000 after acquiring an additional 275 shares during the last quarter. Fifth Third Bancorp raised its position in Maplebear by 123.7% in the second quarter. Fifth Third Bancorp now owns 1,190 shares of the company’s stock valued at $54,000 after purchasing an additional 658 shares during the period. SRH Advisors LLC acquired a new position in shares of Maplebear in the 2nd quarter valued at $61,000. Finally, Huntington National Bank lifted its stake in shares of Maplebear by 2,288.5% in the 2nd quarter. Huntington National Bank now owns 1,457 shares of the company’s stock valued at $66,000 after purchasing an additional 1,396 shares during the last quarter. Hedge funds and other institutional investors own 63.09% of the company’s stock.

Maplebear Price Performance

Shares of NASDAQ:CART opened at $42.02 on Friday. The firm has a market capitalization of $11.03 billion, a PE ratio of 23.09, a price-to-earnings-growth ratio of 1.37 and a beta of 1.10. Maplebear Inc. has a 1 year low of $34.78 and a 1 year high of $53.50. The firm’s 50-day moving average is $39.32 and its two-hundred day moving average is $43.74.

Maplebear (NASDAQ:CART) last announced its quarterly earnings data on Monday, November 10th. The company reported $0.51 earnings per share for the quarter, beating analysts’ consensus estimates of $0.50 by $0.01. Maplebear had a net margin of 14.09% and a return on equity of 15.72%. The firm had revenue of $939.00 million during the quarter, compared to analysts’ expectations of $933.76 million. During the same quarter in the previous year, the business posted $0.42 earnings per share. The business’s quarterly revenue was up 10.2% compared to the same quarter last year. Analysts expect that Maplebear Inc. will post 1.43 EPS for the current fiscal year.

Insiders Place Their Bets

In other Maplebear news, General Counsel Morgan Fong sold 3,546 shares of the business’s stock in a transaction on Monday, October 20th. The shares were sold at an average price of $38.85, for a total value of $137,762.10. Following the completion of the transaction, the general counsel owned 427,523 shares in the company, valued at $16,609,268.55. The trade was a 0.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Fidji Simo sold 7,140 shares of the stock in a transaction on Monday, September 15th. The shares were sold at an average price of $47.30, for a total value of $337,722.00. Following the completion of the sale, the director owned 573,807 shares in the company, valued at approximately $27,141,071.10. The trade was a 1.23% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 27,556 shares of company stock worth $1,179,482 over the last 90 days. Corporate insiders own 26.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on CART. Fox Advisors upgraded shares of Maplebear from a “hold” rating to a “strong-buy” rating in a report on Friday, October 3rd. Morgan Stanley lifted their price target on shares of Maplebear from $45.00 to $48.00 and gave the company an “equal weight” rating in a research report on Friday, August 15th. Piper Sandler downgraded shares of Maplebear from an “overweight” rating to a “neutral” rating and set a $41.00 price target on the stock. in a research note on Friday, October 3rd. JPMorgan Chase & Co. decreased their price objective on shares of Maplebear from $65.00 to $55.00 and set an “overweight” rating on the stock in a report on Tuesday, November 11th. Finally, JMP Securities increased their price objective on shares of Maplebear from $55.00 to $60.00 and gave the stock a “market outperform” rating in a research report on Friday, August 8th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Maplebear currently has a consensus rating of “Moderate Buy” and an average price target of $51.40.

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.