Maplebear Inc. $CART Stock: Investment House LLC Trims Holdings

Investment House LLC cut its stake in shares of Maplebear Inc. (NASDAQ:CART) by 23.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 203,193 shares of the company’s stock after selling 61,905 shares during the quarter. Investment House LLC’s holdings in Maplebear were worth $8,762,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Crossmark Global Holdings Inc. increased its position in Maplebear by 1,497.9% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 100,379 shares of the company’s stock worth $4,328,000 after purchasing an additional 94,097 shares in the last quarter. Nisa Investment Advisors LLC boosted its position in Maplebear by 26.2% in the third quarter. Nisa Investment Advisors LLC now owns 113,371 shares of the company’s stock valued at $4,889,000 after buying an additional 23,504 shares in the last quarter. Michael J. Porro & Co. Financial Advisors Inc. acquired a new stake in Maplebear in the third quarter valued at approximately $271,000. NFSG Corp acquired a new stake in Maplebear in the third quarter valued at approximately $26,000. Finally, Loftus Peak Pty Ltd grew its stake in shares of Maplebear by 7.7% during the third quarter. Loftus Peak Pty Ltd now owns 390,084 shares of the company’s stock worth $16,820,000 after buying an additional 27,817 shares during the last quarter. 63.09% of the stock is owned by institutional investors.

Maplebear Stock Up 2.7%

Shares of NASDAQ:CART opened at $51.68 on Friday. The firm has a market cap of $11.96 billion, a P/E ratio of 24.42, a P/E/G ratio of 0.98 and a beta of 0.87. Maplebear Inc. has a 12-month low of $32.73 and a 12-month high of $52.68. The business has a fifty day simple moving average of $48.05 and a 200 day simple moving average of $45.11.

Maplebear (NASDAQ:CART) last released its quarterly earnings results on Thursday, August 6th. The company reported $0.45 EPS for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.09). The company had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.03 billion. Maplebear had a net margin of 11.97% and a return on equity of 20.19%. The company’s quarterly revenue was up 14.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.41 EPS. As a group, equities research analysts expect that Maplebear Inc. will post 2.33 EPS for the current year.

Insider Buying and Selling

In related news, insider Morgan Fong sold 18,390 shares of Maplebear stock in a transaction on Monday, August 24th. The shares were sold at an average price of $49.96, for a total transaction of $918,764.40. Following the completion of the transaction, the insider owned 529,911 shares of the company’s stock, valued at $26,474,353.56. This trade represents a 3.35% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Lisa Blackwood-Kapral sold 3,017 shares of the business’s stock in a transaction on Tuesday, September 15th. The shares were sold at an average price of $47.08, for a total transaction of $142,040.36. Following the completion of the transaction, the chief accounting officer owned 37,715 shares in the company, valued at approximately $1,775,622.20. The trade was a 7.41% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 192,813 shares of company stock valued at $9,629,020 over the last ninety days. 24.00% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on CART shares. JPMorgan Chase & Co. upped their price target on shares of Maplebear from $55.00 to $62.00 and gave the stock an “overweight” rating in a report on Friday, August 7th. Argus raised their price objective on Maplebear from $50.00 to $58.00 and gave the company a “buy” rating in a report on Wednesday, September 2nd. Wells Fargo & Company boosted their price objective on Maplebear from $54.00 to $56.00 and gave the stock an “equal weight” rating in a research report on Monday, October 5th. Wedbush began coverage on Maplebear in a report on Thursday, July 16th. They issued an “outperform” rating and a $59.00 target price for the company. Finally, BNP Paribas Exane upgraded Maplebear from an “underperform” rating to a “neutral” rating and set a $56.00 price target on the stock in a report on Friday, August 7th. Fourteen analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, Maplebear currently has an average rating of “Moderate Buy” and an average price target of $58.24.

About Maplebear

Maplebear Inc, doing business as Instacart, operates a technology-enabled grocery marketplace that connects consumers with retailers and personal shoppers. Through its website and mobile applications, customers can order groceries and other household products for delivery or pickup from participating supermarkets, specialty food stores, convenience retailers and other merchants.

The company also provides retailers with e-commerce, fulfillment and advertising solutions. Its platform supports online storefronts, order management, delivery logistics, customer engagement and data-driven marketing, allowing retail partners to offer digital shopping services and reach consumers through Instacart’s marketplace.

Founded in 2012, Maplebear serves customers across the United States and Canada.