Alpine Woods Capital Investors LLC Sells 15,400 Shares of Maplebear Inc. (NASDAQ:CART)

Alpine Woods Capital Investors LLC lowered its holdings in Maplebear Inc. (NASDAQ:CART - Free Report) by 42.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 20,635 shares of the company's stock after selling 15,400 shares during the period. Alpine Woods Capital Investors LLC's holdings in Maplebear were worth $823,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of CART. Proathlete Wealth Management LLC bought a new stake in Maplebear during the 1st quarter valued at $26,000. Jones Financial Companies Lllp boosted its stake in Maplebear by 46.6% in the 4th quarter. Jones Financial Companies Lllp now owns 698 shares of the company's stock worth $29,000 after purchasing an additional 222 shares during the period. NewEdge Advisors LLC grew its holdings in Maplebear by 277.9% during the 4th quarter. NewEdge Advisors LLC now owns 975 shares of the company's stock valued at $40,000 after buying an additional 717 shares in the last quarter. UMB Bank n.a. increased its position in shares of Maplebear by 914.1% during the first quarter. UMB Bank n.a. now owns 1,004 shares of the company's stock valued at $40,000 after buying an additional 905 shares during the period. Finally, Spire Wealth Management purchased a new stake in shares of Maplebear in the first quarter worth about $41,000. 63.09% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Maplebear

In other news, General Counsel Morgan Fong sold 4,680 shares of the company's stock in a transaction dated Friday, June 20th. The shares were sold at an average price of $43.90, for a total transaction of $205,452.00. Following the completion of the transaction, the general counsel directly owned 456,680 shares of the company's stock, valued at approximately $20,048,252. This represents a 1.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Fidji Simo sold 8,133 shares of the stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $41.60, for a total transaction of $338,332.80. Following the sale, the chief executive officer owned 1,646,426 shares of the company's stock, valued at approximately $68,491,321.60. This represents a 0.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 22,287 shares of company stock worth $967,711 in the last three months. 26.00% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on CART. Citigroup upped their target price on shares of Maplebear from $55.00 to $57.00 and gave the stock a "buy" rating in a report on Tuesday, May 13th. Macquarie reaffirmed an "outperform" rating and issued a $55.00 price target on shares of Maplebear in a report on Tuesday, May 6th. 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. FBN Securities started coverage on Maplebear in a research note on Friday, March 28th. They issued a "sector perform" rating and a $44.00 target price on the stock. Finally, Wall Street Zen cut Maplebear from a "buy" rating to a "hold" rating in a report on Friday, May 30th. Twelve investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $51.91.

Maplebear Stock Down 0.9%

Shares of NASDAQ CART traded down $0.44 during midday trading on Friday, reaching $47.99. The company had a trading volume of 2,339,798 shares, compared to its average volume of 3,956,408. The firm's fifty day moving average price is $45.59 and its 200-day moving average price is $44.11. Maplebear Inc. has a one year low of $29.84 and a one year high of $53.44. The stock has a market cap of $12.60 billion, a PE ratio of 31.57, a price-to-earnings-growth ratio of 2.02 and a beta of 1.21.

Maplebear (NASDAQ:CART - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The company reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.38 by ($0.01). Maplebear had a net margin of 12.45% and a return on equity of 14.12%. The company had revenue of $897.00 million during the quarter, compared to the consensus estimate of $896.86 million. During the same quarter in the previous year, the firm posted $0.43 EPS. The business's revenue for the quarter was up 9.4% compared to the same quarter last year. As a group, equities research analysts expect that Maplebear Inc. will post 1.43 EPS for the current 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.