Maplebear Inc. $CART Shares Sold by Grantham Mayo Van Otterloo & Co. LLC

Grantham Mayo Van Otterloo & Co. LLC trimmed its holdings in Maplebear Inc. (NASDAQ:CART) by 65.7% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 29,257 shares of the company’s stock after selling 56,059 shares during the period. Grantham Mayo Van Otterloo & Co. LLC’s holdings in Maplebear were worth $1,075,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Hantz Financial Services Inc. lifted 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 last quarter. Abich Financial Wealth Management LLC acquired a new stake in shares of Maplebear during the 3rd quarter worth about $43,000. Elevation Point Wealth Partners LLC purchased a new stake in Maplebear in the 2nd quarter valued at about $53,000. CWM LLC raised its holdings in Maplebear by 42.2% in the 3rd quarter. CWM LLC now owns 1,634 shares of the company’s stock valued at $60,000 after buying an additional 485 shares during the period. Finally, NewEdge Advisors LLC lifted its position in Maplebear by 71.6% in the first quarter. NewEdge Advisors LLC now owns 1,673 shares of the company’s stock valued at $67,000 after buying an additional 698 shares during the last quarter. Institutional investors and hedge funds own 63.09% of the company’s stock.

Insider Activity at Maplebear

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

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Cantor Fitzgerald increased their target price on shares of Maplebear from $45.00 to $54.00 and gave the stock an “overweight” rating in a research note on Thursday, January 8th. Stifel Nicolaus reduced their price target on shares of Maplebear from $49.00 to $46.00 and set a “buy” rating on the stock in a research note on Tuesday, January 27th. Needham & Company LLC upped their price objective on shares of Maplebear from $50.00 to $55.00 and gave the stock a “buy” rating in a report on Friday, February 13th. Benchmark dropped their target price on shares of Maplebear from $60.00 to $53.00 and set a “buy” rating for the company in a report on Tuesday, February 10th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Maplebear in a research report on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, eleven have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $51.04.

Maplebear Price Performance

NASDAQ CART opened at $36.87 on Thursday. The company has a market cap of $8.87 billion, a P/E ratio of 23.19, a P/E/G ratio of 0.58 and a beta of 0.98. The stock has a 50-day moving average of $38.26 and a two-hundred day moving average of $40.54. Maplebear Inc. has a 1-year low of $32.73 and a 1-year high of $53.50.

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.