Intellectus Partners LLC Lowers Stock Position in Maplebear Inc. (NASDAQ:CART)

Intellectus Partners LLC cut its holdings in Maplebear Inc. (NASDAQ:CART) by 10.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,500 shares of the company’s stock after selling 2,500 shares during the quarter. Intellectus Partners LLC’s holdings in Maplebear were worth $932,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Portman Ltd purchased a new stake in Maplebear in the third quarter worth about $3,196,000. State Street Corp grew its stake in shares of Maplebear by 48.3% in the 3rd 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. Cerity Partners LLC purchased a new stake in shares of Maplebear in the 3rd quarter worth approximately $1,442,000. Charles Schwab Investment Management Inc. increased its position in Maplebear by 5,191.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,489,655 shares of the company’s stock valued at $60,689,000 after buying an additional 1,461,501 shares in the last quarter. Finally, Zacks Investment Management purchased a new position in Maplebear during the third quarter valued at $4,853,000. 63.09% of the stock is currently owned by institutional investors.

Maplebear Stock Up 5.7 %

NASDAQ CART opened at $39.90 on Friday. Maplebear Inc. has a 52 week low of $29.84 and a 52 week high of $53.44. The company has a market capitalization of $10.25 billion, a P/E ratio of 26.78, a price-to-earnings-growth ratio of 1.19 and a beta of 1.34. The stock’s 50-day moving average price is $45.99 and its 200-day moving average price is $42.94.

Maplebear (NASDAQ:CART) last released its earnings results on Tuesday, February 25th. The company reported $0.53 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.16. The company had revenue of $883.00 million for 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%. Research analysts anticipate that Maplebear Inc. will post 1.43 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have recently weighed in on CART shares. Piper Sandler raised their price target on Maplebear from $50.00 to $58.00 and gave the company an “overweight” rating in a report on Wednesday, November 13th. BTIG Research upgraded shares of Maplebear from a “neutral” rating to a “buy” rating and set a $58.00 price objective for the company in a research note on Tuesday, January 14th. Wells Fargo & Company began coverage on shares of Maplebear in a report on Friday, January 10th. They issued an “equal weight” rating and a $47.00 target price for the company. BMO Capital Markets increased their price target on shares of Maplebear from $48.00 to $49.00 and gave the company a “market perform” rating in a report on Wednesday, February 26th. Finally, Mizuho decreased their price objective on shares of Maplebear from $55.00 to $52.00 and set an “outperform” rating for the company in a report on Wednesday, February 26th. Thirteen analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Maplebear presently has a consensus rating of “Moderate Buy” and a consensus target price of $50.21.

Insider Activity at Maplebear

In related news, CAO Alan Ramsay sold 2,314 shares of Maplebear stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $46.28, for a total transaction of $107,091.92. Following the sale, the chief accounting officer now owns 85,421 shares of the company’s stock, valued at approximately $3,953,283.88. This trade represents a 2.64 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Fidji Simo sold 20,750 shares of the business’s stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $43.31, for a total value of $898,682.50. Following the completion of the transaction, the chief executive officer now directly owns 1,662,692 shares in the company, valued at approximately $72,011,190.52. This represents a 1.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 46,061 shares of company stock worth $1,987,318. 36.00% of the stock is owned by corporate insiders.

About Maplebear

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.