Private Client Services LLC Sells 22,319 Shares of Maplebear Inc. $CART

Private Client Services LLC trimmed its stake in shares of Maplebear Inc. (NASDAQ:CART) by 54.8% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 18,412 shares of the company’s stock after selling 22,319 shares during the period. Private Client Services LLC’s holdings in Maplebear were worth $828,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Hantz Financial Services Inc. lifted its holdings in shares of Maplebear by 78.6% during the 3rd quarter. Hantz Financial Services Inc. now owns 884 shares of the company’s stock valued at $32,000 after buying an additional 389 shares during the period. Allworth Financial LP lifted its holdings in Maplebear by 35.7% in the third quarter. Allworth Financial LP now owns 928 shares of the company’s stock valued at $34,000 after acquiring an additional 244 shares during the period. Abich Financial Wealth Management LLC purchased a new position in Maplebear in the third quarter worth about $43,000. Sunbelt Securities Inc. boosted its holdings in shares of Maplebear by 212.7% in the third quarter. Sunbelt Securities Inc. now owns 1,157 shares of the company’s stock worth $43,000 after buying an additional 787 shares during the last quarter. Finally, Elevation Point Wealth Partners LLC purchased a new position in Maplebear during the second quarter valued at $53,000. Hedge funds and other institutional investors own 63.09% of the company’s stock.

Wall Street Analyst Weigh In

CART has been the subject of several recent analyst reports. Wall Street Zen upgraded Maplebear from a “hold” rating to a “buy” rating in a research note on Saturday, February 14th. BNP Paribas Exane started coverage on Maplebear in a research note on Wednesday, January 14th. They set an “underperform” rating and a $41.00 price objective on the stock. Fox Advisors downgraded shares of Maplebear from a “strong-buy” rating to a “hold” rating in a research note on Thursday, December 18th. Needham & Company LLC increased their price target on Maplebear from $50.00 to $55.00 and gave the stock a “buy” rating in a report on Friday, February 13th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Maplebear in a report on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, eleven have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $51.04.

Maplebear Stock Performance

NASDAQ CART opened at $36.93 on Friday. Maplebear Inc. has a fifty-two week low of $32.73 and a fifty-two week high of $53.50. The firm has a market capitalization of $8.89 billion, a P/E ratio of 23.23, a PEG ratio of 0.56 and a beta of 0.98. The stock has a 50-day simple moving average of $37.42 and a two-hundred day simple moving average of $40.29.

Insider Transactions at Maplebear

In other Maplebear news, CAO Lisa Blackwood-Kapral sold 9,390 shares of the firm’s stock in a transaction on Monday, March 16th. The stock was sold at an average price of $38.74, for a total value of $363,768.60. Following the transaction, the chief accounting officer owned 47,510 shares in the company, valued at approximately $1,840,537.40. This trade represents a 16.50% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, General Counsel Morgan Fong sold 126,083 shares of the company’s stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $37.09, for a total value of $4,676,418.47. Following the completion of the sale, the general counsel owned 386,643 shares of the company’s stock, valued at $14,340,588.87. This trade represents a 24.59% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 140,387 shares of company stock valued at $5,262,349 in the last ninety days. 26.00% of the stock is currently owned by insiders.

Maplebear 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.