Los Angeles Capital Management LLC Sells 115,072 Shares of Maplebear Inc. $CART

Los Angeles Capital Management LLC reduced its holdings in Maplebear Inc. (NASDAQ:CART) by 31.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 253,395 shares of the company’s stock after selling 115,072 shares during the period. Los Angeles Capital Management LLC owned approximately 0.10% of Maplebear worth $11,398,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the business. Vestcor Inc increased its position in Maplebear by 72.6% in the 4th quarter. Vestcor Inc now owns 11,256 shares of the company’s stock worth $506,000 after buying an additional 4,734 shares during the period. WINTON GROUP Ltd increased its position in Maplebear by 79.5% in the 4th quarter. WINTON GROUP Ltd now owns 144,698 shares of the company’s stock worth $6,509,000 after buying an additional 64,065 shares during the period. Parallel Advisors LLC increased its position in Maplebear by 2.1% in the 4th quarter. Parallel Advisors LLC now owns 31,103 shares of the company’s stock worth $1,399,000 after buying an additional 626 shares during the period. Prudential PLC increased its position in Maplebear by 118.5% in the 4th quarter. Prudential PLC now owns 67,652 shares of the company’s stock worth $3,043,000 after buying an additional 36,687 shares during the period. Finally, Daiwa Securities Group Inc. increased its position in Maplebear by 44.2% in the 4th quarter. Daiwa Securities Group Inc. now owns 21,912 shares of the company’s stock worth $985,000 after buying an additional 6,712 shares during the period. 63.09% of the stock is owned by institutional investors.

Maplebear Trading Up 2.8%

Shares of NASDAQ:CART opened at $42.43 on Tuesday. Maplebear Inc. has a 1-year low of $32.73 and a 1-year high of $53.50. The firm has a market capitalization of $9.97 billion, a PE ratio of 23.70, a PEG ratio of 0.57 and a beta of 0.88. The business’s 50 day moving average is $40.63 and its 200-day moving average is $40.23.

Maplebear (NASDAQ:CART) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $0.57 earnings per share for the quarter, missing the consensus estimate of $0.58 by ($0.01). Maplebear had a return on equity of 18.67% and a net margin of 12.50%.The firm had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.01 billion. During the same period in the previous year, the business posted $0.37 EPS. Maplebear’s revenue for the quarter was up 13.6% compared to the same quarter last year. On average, sell-side analysts predict that Maplebear Inc. will post 2.45 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have commented on CART. Wells Fargo & Company lifted their price target on Maplebear from $45.00 to $47.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 7th. Raymond James Financial raised Maplebear from a “hold” rating to a “moderate buy” rating in a research report on Thursday, April 9th. Barclays lifted their price target on Maplebear from $65.00 to $69.00 and gave the stock an “overweight” rating in a research report on Thursday, May 7th. Needham & Company LLC reissued a “buy” rating and set a $55.00 price objective on shares of Maplebear in a report on Thursday, May 7th. Finally, Weiss Ratings raised Maplebear from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, May 11th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, Maplebear presently has an average rating of “Moderate Buy” and a consensus price target of $51.09.

Insider Transactions at Maplebear

In other news, Director Ravi Gupta sold 181,000 shares of Maplebear stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $41.51, for a total transaction of $7,513,310.00. Following the sale, the director owned 741,523 shares of the company’s stock, valued at approximately $30,780,619.73. This trade represents a 19.62% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Morgan Fong sold 126,083 shares of Maplebear stock in a transaction that occurred on Wednesday, March 11th. The stock was sold at an average price of $37.09, for a total value of $4,676,418.47. Following the sale, the general counsel directly owned 386,643 shares in the company, valued at $14,340,588.87. The trade was a 24.59% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 325,863 shares of company stock valued at $12,931,445. 24.00% of the stock is owned by corporate insiders.

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.