Assenagon Asset Management S.A. Has $3.80 Million Stock Holdings in Maplebear Inc. $CART

Key Points

• Assenagon Asset Management cut its position by 82.3%, selling 481,274 shares in Q3 and retaining 103,297 shares in Maplebear worth about $3.80 million.
• Other institutions were active: Champlain Investment increased its stake 64.4% to 2,157,010 shares (~$97.6M), JPMorgan raised its position 7.5% to 1,040,129 shares (~$47.1M), and Norges Bank opened a new ~ $97.35M position, leaving institutions with about 63.09% ownership.
• Analyst and stock snapshot: consensus rating is "Moderate Buy" with a $52.21 target; the stock trades near $45 (market cap ~$11.82B), and Maplebear recently beat quarterly EPS/ revenue estimates ($0.51 EPS; $939M revenue).

Assenagon Asset Management S.A. cut its position in Maplebear Inc. (NASDAQ:CART - Free Report) by 82.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 103,297 shares of the company's stock after selling 481,274 shares during the quarter. Assenagon Asset Management S.A.'s holdings in Maplebear were worth $3,797,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. JPMorgan Chase & Co. lifted its position in shares of Maplebear by 7.5% in the second quarter. JPMorgan Chase & Co. now owns 1,040,129 shares of the company's stock valued at $47,055,000 after buying an additional 72,643 shares during the last quarter. Champlain Investment Partners LLC increased its holdings in shares of Maplebear by 64.4% during the 2nd quarter. Champlain Investment Partners LLC now owns 2,157,010 shares of the company's stock worth $97,583,000 after acquiring an additional 845,070 shares during the last quarter. Sentry Investment Management LLC bought a new stake in Maplebear in the 2nd quarter valued at $391,000. Mitsubishi UFJ Trust & Banking Corp lifted its holdings in Maplebear by 261.8% during the 2nd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 99,868 shares of the company's stock valued at $4,518,000 after purchasing an additional 72,265 shares during the last quarter. Finally, Norges Bank bought a new position in Maplebear during the second quarter worth $97,351,000. 63.09% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently weighed in on CART. BTIG Research reissued a "neutral" rating and issued a $55.00 price objective on shares of Maplebear in a research report on Tuesday, September 30th. Weiss Ratings reiterated a "hold (c)" rating on shares of Maplebear in a research note on Monday, December 15th. Wells Fargo & Company cut their price objective on shares of Maplebear from $57.00 to $47.00 and set an "equal weight" rating for the company in a research report on Friday, October 3rd. Jefferies Financial Group boosted their price objective on Maplebear from $41.00 to $48.00 and gave the stock a "hold" rating in a report on Thursday, December 11th. Finally, JPMorgan Chase & Co. decreased their target price on Maplebear from $65.00 to $55.00 and set an "overweight" rating on the stock in a research report on Tuesday, November 11th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $52.21.

Maplebear Trading Down 2.0%

NASDAQ CART opened at $45.02 on Tuesday. The company has a market cap of $11.82 billion, a price-to-earnings ratio of 24.74, a PEG ratio of 1.50 and a beta of 1.01. The company has a 50 day moving average of $40.85 and a 200-day moving average of $43.52. Maplebear Inc. has a 1-year low of $34.78 and a 1-year high of $53.50.

Maplebear (NASDAQ:CART - Get Free Report) last posted its quarterly earnings data on Monday, November 10th. The company reported $0.51 EPS for the quarter, topping analysts' consensus estimates of $0.50 by $0.01. The firm had revenue of $939.00 million for the quarter, compared to analyst estimates of $933.76 million. Maplebear had a return on equity of 15.72% and a net margin of 14.09%.The company's revenue was up 10.2% on a year-over-year basis. During the same quarter last year, the company earned $0.42 EPS. On average, equities research analysts forecast that Maplebear Inc. will post 1.43 earnings per share for the current year.

Insiders Place Their Bets

In other Maplebear news, General Counsel Morgan Fong sold 3,546 shares of the stock in a transaction dated Monday, October 20th. The shares were sold at an average price of $38.85, for a total transaction of $137,762.10. Following the sale, the general counsel directly owned 427,523 shares in the company, valued at $16,609,268.55. This represents a 0.82% 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 Fidji Simo sold 3,051 shares of the firm's stock in a transaction dated Wednesday, October 15th. The shares were sold at an average price of $39.60, for a total transaction of $120,819.60. Following the completion of the transaction, the director directly owned 570,756 shares in the company, valued at approximately $22,601,937.60. This represents a 0.53% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 7,611 shares of company stock worth $299,142 in the last 90 days. 26.00% of the stock is owned by company 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.

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