Delta Global Management LP Sells 539,317 Shares of Maplebear Inc. $CART

Delta Global Management LP lessened its stake in Maplebear Inc. (NASDAQ:CART) by 76.2% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 168,609 shares of the company’s stock after selling 539,317 shares during the quarter. Delta Global Management LP’s holdings in Maplebear were worth $6,198,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. Smartleaf Asset Management LLC raised its holdings in shares of Maplebear by 9.6% during the second quarter. Smartleaf Asset Management LLC now owns 2,978 shares of the company’s stock worth $134,000 after acquiring an additional 261 shares during the period. Rafferty Asset Management LLC increased its holdings in Maplebear by 2.5% during 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 in the last quarter. Crossmark Global Holdings Inc. increased its holdings in Maplebear by 5.0% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 6,423 shares of the company’s stock worth $236,000 after purchasing an additional 304 shares in 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 during the period. Finally, ProShare Advisors LLC raised its stake in shares of Maplebear by 5.7% in the 2nd quarter. ProShare Advisors LLC now owns 7,284 shares of the company’s stock valued at $330,000 after purchasing an additional 390 shares during the period. Institutional investors own 63.09% of the company’s stock.

Insiders Place Their Bets

In other Maplebear news, General Counsel Morgan Fong sold 126,083 shares of the business’s stock in a transaction that occurred on Wednesday, March 11th. The stock was sold at an average price of $37.09, for a total transaction of $4,676,418.47. Following the transaction, the general counsel owned 386,643 shares of the company’s stock, valued at $14,340,588.87. The trade was a 24.59% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 26.00% of the stock is currently owned by corporate insiders.

Maplebear Stock Performance

CART opened at $38.23 on Monday. Maplebear Inc. has a 52-week low of $32.73 and a 52-week high of $53.50. The firm has a market capitalization of $9.20 billion, a PE ratio of 24.04, a PEG ratio of 0.58 and a beta of 0.98. The business’s 50-day simple moving average is $38.00 and its 200 day simple moving average is $40.45.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Stifel Nicolaus reduced their price objective on Maplebear from $49.00 to $46.00 and set a “buy” rating for the company in a research report on Tuesday, January 27th. Benchmark dropped their target price on Maplebear from $60.00 to $53.00 and set a “buy” rating on the stock in a research report on Tuesday, February 10th. Wells Fargo & Company cut their target price on Maplebear from $47.00 to $43.00 and set an “equal weight” rating on the stock in a research note on Friday, February 13th. Fox Advisors downgraded Maplebear from a “strong-buy” rating to a “hold” rating in a research report on Thursday, December 18th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Maplebear in a report on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, eleven have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $51.04.

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.