Maplebear Inc. $CART Shares Sold by Ontario Teachers Pension Plan Board

Ontario Teachers Pension Plan Board trimmed its holdings in Maplebear Inc. (NASDAQ:CART) by 56.1% during the third quarter, HoldingsChannel.com reports. The firm owned 29,093 shares of the company’s stock after selling 37,248 shares during the period. Ontario Teachers Pension Plan Board’s holdings in Maplebear were worth $1,069,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in CART. Securian Asset Management Inc. increased its stake in shares of Maplebear by 2.1% in the second quarter. Securian Asset Management Inc. now owns 12,509 shares of the company’s stock worth $566,000 after buying an additional 252 shares during the last quarter. Smartleaf Asset Management LLC increased its position in shares of Maplebear by 9.6% in the 2nd quarter. Smartleaf Asset Management LLC now owns 2,978 shares of the company’s stock worth $134,000 after purchasing an additional 261 shares during the last quarter. Rafferty Asset Management LLC increased its position in shares of Maplebear by 2.5% in the 2nd quarter. Rafferty Asset Management LLC now owns 11,000 shares of the company’s stock worth $498,000 after purchasing an additional 273 shares during the last quarter. Hantz Financial Services Inc. raised its stake in shares of Maplebear by 78.6% in the 3rd quarter. Hantz Financial Services Inc. now owns 884 shares of the company’s stock valued at $32,000 after purchasing an additional 389 shares in the last quarter. Finally, ProShare Advisors LLC lifted its position in shares of Maplebear by 5.7% during the second quarter. ProShare Advisors LLC now owns 7,284 shares of the company’s stock worth $330,000 after purchasing an additional 390 shares during the last quarter. 63.09% of the stock is currently owned by hedge funds and other institutional investors.

Maplebear Stock Down 2.1%

CART stock opened at $35.56 on Friday. The stock has a market cap of $9.34 billion, a PE ratio of 22.36, a price-to-earnings-growth ratio of 0.55 and a beta of 1.00. The firm’s 50-day simple moving average is $40.51 and its 200 day simple moving average is $41.54. Maplebear Inc. has a fifty-two week low of $32.73 and a fifty-two week high of $53.50.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Needham & Company LLC boosted their price objective on Maplebear from $50.00 to $55.00 and gave the company a “buy” rating in a report on Friday, February 13th. BMO Capital Markets upgraded Maplebear from a “market perform” rating to an “outperform” rating and set a $58.00 price objective on the stock in a research note on Tuesday, November 11th. Wells Fargo & Company decreased their price objective on shares of Maplebear from $47.00 to $43.00 and set an “equal weight” rating for the company in a report on Friday, February 13th. Citigroup dropped their target price on shares of Maplebear from $65.00 to $50.00 and set a “buy” rating on the stock in a report on Tuesday, November 11th. Finally, Argus began coverage on shares of Maplebear in a report on Wednesday, January 7th. They issued a “buy” rating and a $52.00 price target for the company. Fifteen analysts have rated the stock with a Buy rating, eleven have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $51.38.

Insider Activity at Maplebear

In other news, General Counsel Morgan Fong sold 4,914 shares of Maplebear stock in a transaction that occurred on Monday, December 22nd. The stock was sold at an average price of $45.21, for a total transaction of $222,161.94. Following the sale, the general counsel owned 404,940 shares of the company’s stock, valued at approximately $18,307,337.40. The trade was a 1.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 26.00% of the company’s stock.

Maplebear Company Profile

Maplebear, Inc, doing business as Instacart, operates a leading online grocery and essentials marketplace that connects consumers, retail partners and personal shoppers through its digital platform. The company enables customers to order groceries, household items and specialty products for same-day or scheduled delivery, as well as in-store pickup. By integrating its technology with retailers’ existing inventory and point-of-sale systems, Maplebear streamlines the shopping experience and provides real-time availability and pricing.

Founded in 2012 and headquartered in San Francisco, Maplebear has grown from a regional startup to a publicly traded company listed on NASDAQ under the ticker CART.