AlpInvest Partners B.V. Sells 119,542 Shares of Maplebear Inc. (NASDAQ:CART)

Key Points

• AlpInvest Partners B.V. has reduced its stake in Maplebear Inc. by 33.3%, selling 119,542 shares and now holding 239,072 shares overall.
• Insiders, including CEO Fidji Simo, sold significant amounts of stock recently, with a total of 4,975,327 shares sold over the last three months.
• Maplebear stock currently has a market capitalization of $12.53 billion, with a consensus rating of "Moderate Buy" from analysts and a price target of approximately $52.35.

AlpInvest Partners B.V. lessened its stake in Maplebear Inc. (NASDAQ:CART - Free Report) by 33.3% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 239,072 shares of the company's stock after selling 119,542 shares during the period. Maplebear comprises approximately 14.5% of AlpInvest Partners B.V.'s portfolio, making the stock its 4th largest position. AlpInvest Partners B.V. owned 0.09% of Maplebear worth $9,537,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Commonwealth Equity Services LLC purchased a new stake in shares of Maplebear during the fourth quarter worth $234,000. Alliancebernstein L.P. increased its holdings in Maplebear by 343.6% during the 4th quarter. Alliancebernstein L.P. now owns 371,140 shares of the company's stock worth $15,373,000 after purchasing an additional 287,477 shares during the period. National Bank of Canada FI raised its position in Maplebear by 3,628.1% in the 4th quarter. National Bank of Canada FI now owns 41,867 shares of the company's stock valued at $1,734,000 after purchasing an additional 40,744 shares in the last quarter. Aviva PLC purchased a new position in shares of Maplebear in the 4th quarter valued at about $597,000. Finally, Grantham Mayo Van Otterloo & Co. LLC purchased a new position in shares of Maplebear in the 4th quarter valued at about $281,000. Hedge funds and other institutional investors own 63.09% of the company's stock.

Insiders Place Their Bets

In related news, CEO Fidji Simo sold 6,640 shares of the company's stock in a transaction that occurred on Wednesday, July 23rd. The shares were sold at an average price of $50.00, for a total transaction of $332,000.00. Following the transaction, the chief executive officer owned 1,958,805 shares of the company's stock, valued at approximately $97,940,250. This represents a 0.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Levien Meredith A. Kopit sold 4,225 shares of Maplebear stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $47.45, for a total transaction of $200,476.25. Following the completion of the sale, the director directly owned 20,829 shares of the company's stock, valued at $988,336.05. The trade was a 16.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 4,975,327 shares of company stock valued at $237,736,848. Insiders own 26.00% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Robert W. Baird lifted their price objective on shares of Maplebear from $47.00 to $52.00 and gave the stock an "outperform" rating in a research report on Thursday, July 17th. Loop Capital raised their price target on Maplebear from $52.00 to $58.00 and gave the company a "buy" rating in a research note on Monday, May 19th. Wall Street Zen downgraded Maplebear from a "buy" rating to a "hold" rating in a report on Friday, May 30th. Stifel Nicolaus raised their price objective on shares of Maplebear from $55.00 to $64.00 and gave the stock a "buy" rating in a report on Friday. Finally, Benchmark upgraded shares of Maplebear from a "hold" rating to a "buy" rating and set a $67.00 price objective for the company in a research report on Friday. Ten investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Maplebear presently has a consensus rating of "Moderate Buy" and a consensus target price of $55.13.

Maplebear Price Performance

Maplebear stock traded up $1.82 during trading hours on Friday, hitting $51.21. The stock had a trading volume of 13,083,511 shares, compared to its average volume of 3,516,849. Maplebear Inc. has a 1-year low of $31.15 and a 1-year high of $53.50. The stock has a market capitalization of $13.44 billion, a price-to-earnings ratio of 29.60, a PEG ratio of 1.91 and a beta of 1.21. The stock's fifty day moving average is $46.70 and its two-hundred day moving average is $44.69.

Maplebear (NASDAQ:CART - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.02. The firm had revenue of $914.00 million during the quarter, compared to the consensus estimate of $896.55 million. Maplebear had a return on equity of 16.02% and a net margin of 13.76%. The company's quarterly revenue was up 11.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.20 EPS. As a group, sell-side analysts anticipate that Maplebear Inc. will post 1.43 EPS for the current year.

Maplebear Company Profile

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.