Intellectus Partners LLC Sells 3,552 Shares of Maplebear Inc. $CART

Intellectus Partners LLC trimmed its position in Maplebear Inc. (NASDAQ:CART) by 15.1% in the second quarter, according to its most recent filing with the SEC. The fund owned 20,000 shares of the company’s stock after selling 3,552 shares during the period. Intellectus Partners LLC’s holdings in Maplebear were worth $905,000 as of its most recent filing with the SEC.

Several other large investors have also bought and sold shares of the stock. Vanguard Group Inc. raised its position in Maplebear by 3.4% during the 1st quarter. Vanguard Group Inc. now owns 16,514,830 shares of the company’s stock worth $658,777,000 after purchasing an additional 546,472 shares during the last quarter. Victory Capital Management Inc. raised its position in Maplebear by 62.8% during the 1st quarter. Victory Capital Management Inc. now owns 7,368,232 shares of the company’s stock worth $293,919,000 after purchasing an additional 2,841,559 shares during the last quarter. T. Rowe Price Investment Management Inc. raised its position in Maplebear by 10.2% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 5,226,979 shares of the company’s stock worth $208,505,000 after purchasing an additional 482,327 shares during the last quarter. Altimeter Capital Management LP raised its position in Maplebear by 31.9% during the 1st quarter. Altimeter Capital Management LP now owns 3,348,128 shares of the company’s stock worth $133,557,000 after purchasing an additional 810,510 shares during the last quarter. Finally, William Blair Investment Management LLC bought a new position in Maplebear during the 2nd quarter worth $151,364,000. 63.09% of the stock is owned by institutional investors.

Maplebear Trading Up 0.6%

CART stock opened at $36.86 on Monday. The stock has a 50-day moving average price of $41.31 and a 200-day moving average price of $44.20. Maplebear Inc. has a 1-year low of $34.87 and a 1-year high of $53.50. The firm has a market cap of $9.71 billion, a PE ratio of 21.31, a price-to-earnings-growth ratio of 1.13 and a beta of 1.10.

Maplebear (NASDAQ:CART) last posted its quarterly earnings data on Thursday, August 7th. The company reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.02. Maplebear had a return on equity of 15.69% and a net margin of 13.76%.The firm had revenue of $914.00 million during the quarter, compared to analyst estimates of $896.55 million. During the same period last year, the company posted $0.20 EPS. The business’s quarterly revenue was up 11.1% on a year-over-year basis. On average, analysts forecast that Maplebear Inc. will post 1.43 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on CART shares. Needham & Company LLC raised their target price on Maplebear from $56.00 to $66.00 and gave the stock a “buy” rating in a research report on Friday, August 8th. Wall Street Zen lowered Maplebear from a “buy” rating to a “hold” rating in a research report on Monday, September 29th. Wells Fargo & Company lowered their target price on Maplebear from $57.00 to $47.00 and set an “equal weight” rating for the company in a research report on Friday, October 3rd. JMP Securities raised their target price on Maplebear from $55.00 to $60.00 and gave the stock a “market outperform” rating in a research report on Friday, August 8th. Finally, Bank of America raised their target price on Maplebear from $53.00 to $58.00 and gave the stock a “neutral” rating in a research report on Friday, August 8th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Maplebear currently has an average rating of “Moderate Buy” and a consensus price target of $52.12.

Insider Activity

In other news, CEO Chris Rogers sold 9,259 shares of the firm’s stock in a transaction dated Monday, September 22nd. The stock was sold at an average price of $42.37, for a total value of $392,303.83. Following the completion of the sale, the chief executive officer directly owned 739,880 shares in the company, valued at $31,348,715.60. This trade represents a 1.24% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Fidji Simo sold 1,014 shares of the firm’s stock in a transaction dated Thursday, October 16th. The shares were sold at an average price of $40.00, for a total value of $40,560.00. Following the completion of the sale, the director owned 569,742 shares of the company’s stock, valued at approximately $22,789,680. This represents a 0.18% 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 in the last three months. Company insiders own 26.00% of the company’s stock.

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.