Maplebear Inc. (NASDAQ:CART) Shares Sold by Dark Forest Capital Management LP

Dark Forest Capital Management LP cut its stake in Maplebear Inc. (NASDAQ:CART - Free Report) by 62.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,384 shares of the company's stock after selling 14,100 shares during the period. Dark Forest Capital Management LP's holdings in Maplebear were worth $347,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in CART. Jones Financial Companies Lllp boosted its holdings in Maplebear by 46.6% in the 4th quarter. Jones Financial Companies Lllp now owns 698 shares of the company's stock valued at $29,000 after purchasing an additional 222 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new position in Maplebear in the third quarter valued at approximately $33,000. Allworth Financial LP grew its position in Maplebear by 101.4% in the fourth quarter. Allworth Financial LP now owns 834 shares of the company's stock worth $37,000 after acquiring an additional 420 shares during the period. NewEdge Advisors LLC increased its stake in Maplebear by 277.9% during the fourth quarter. NewEdge Advisors LLC now owns 975 shares of the company's stock worth $40,000 after acquiring an additional 717 shares during the last quarter. Finally, Cullen Frost Bankers Inc. purchased a new stake in Maplebear in the fourth quarter valued at $62,000. Institutional investors and hedge funds own 63.09% of the company's stock.

Insider Activity at Maplebear

In related news, CEO Fidji Simo sold 2,033 shares of Maplebear stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $40.00, for a total transaction of $81,320.00. Following the completion of the transaction, the chief executive officer now directly owns 1,654,559 shares in the company, valued at $66,182,360. The trade was a 0.12 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, General Counsel Morgan Fong sold 5,249 shares of the stock in a transaction on Monday, April 21st. The shares were sold at an average price of $42.57, for a total value of $223,449.93. Following the sale, the general counsel now owns 484,292 shares in the company, valued at approximately $20,616,310.44. This trade represents a 1.07 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 36,165 shares of company stock worth $1,541,785 in the last three months. Insiders own 26.00% of the company's stock.

Analyst Ratings Changes

CART has been the subject of a number of research analyst reports. Bank of America increased their price target on Maplebear from $51.00 to $53.00 and gave the stock a "neutral" rating in a report on Tuesday, February 25th. Mizuho cut their target price on Maplebear from $55.00 to $52.00 and set an "outperform" rating on the stock in a research report on Wednesday, February 26th. BTIG Research upgraded Maplebear from a "neutral" rating to a "buy" rating and set a $58.00 price target for the company in a research report on Tuesday, January 14th. JPMorgan Chase & Co. dropped their price objective on Maplebear from $50.00 to $44.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. Finally, Benchmark restated a "hold" rating on shares of Maplebear in a report on Wednesday, February 26th. Twelve research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Maplebear presently has a consensus rating of "Moderate Buy" and an average price target of $50.61.

Maplebear Stock Up 13.6 %

CART traded up $5.42 on Friday, reaching $45.22. The company's stock had a trading volume of 12,363,136 shares, compared to its average volume of 4,122,179. The company has a market capitalization of $11.87 billion, a price-to-earnings ratio of 30.35, a P/E/G ratio of 1.19 and a beta of 1.19. Maplebear Inc. has a fifty-two week low of $29.84 and a fifty-two week high of $53.44. The stock has a 50 day moving average of $40.10 and a two-hundred day moving average of $43.47.

Maplebear (NASDAQ:CART - Get Free Report) last issued its earnings results on Thursday, May 1st. The company reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.01). The company had revenue of $897.00 million during the quarter, compared to analyst estimates of $896.86 million. Maplebear had a net margin of 13.37% and a return on equity of 13.78%. The company's quarterly revenue was up 9.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.43 EPS. As a group, analysts anticipate that Maplebear Inc. will post 1.43 earnings per share for the current fiscal year.

About Maplebear

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.