Assetmark Inc. Sells 89,115 Shares of Maplebear Inc. $CART

Assetmark Inc. trimmed its position in Maplebear Inc. (NASDAQ:CART - Free Report) by 97.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,528 shares of the company's stock after selling 89,115 shares during the quarter. Assetmark Inc.'s holdings in Maplebear were worth $95,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of CART. State Street Corp increased its holdings in shares of Maplebear by 1.0% in the fourth quarter. State Street Corp now owns 5,461,637 shares of the company's stock worth $245,664,000 after purchasing an additional 54,872 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Maplebear by 114.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,792,673 shares of the company's stock worth $170,594,000 after purchasing an additional 2,026,567 shares during the last quarter. Viking Global Investors LP purchased a new position in Maplebear during the 2nd quarter valued at $169,782,000. Geode Capital Management LLC grew its holdings in shares of Maplebear by 1.6% in the fourth quarter. Geode Capital Management LLC now owns 3,526,124 shares of the company's stock worth $158,640,000 after purchasing an additional 54,010 shares during the last quarter. Finally, Federated Hermes Inc. increased its position in shares of Maplebear by 3.2% during the fourth quarter. Federated Hermes Inc. now owns 3,287,952 shares of the company's stock worth $147,892,000 after acquiring an additional 101,278 shares during the period. 63.09% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently commented on CART shares. Weiss Ratings upgraded shares of Maplebear from a "hold (c-)" rating to a "hold (c)" rating in a report on Monday, May 11th. Wedbush began coverage on Maplebear in a research note on Thursday, July 16th. They set an "outperform" rating and a $59.00 price target on the stock. Raymond James Financial raised Maplebear from a "hold" rating to a "moderate buy" rating in a research report on Thursday, April 9th. Wall Street Zen raised shares of Maplebear from a "hold" rating to a "buy" rating in a research report on Saturday, July 18th. Finally, Needham & Company LLC reissued a "buy" rating and issued a $55.00 price objective on shares of Maplebear in a report on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $51.48.

Insider Buying and Selling at Maplebear

In related news, Director Ravi Gupta sold 181,000 shares of the company's stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $41.51, for a total transaction of $7,513,310.00. Following the sale, the director directly owned 741,523 shares in the company, valued at approximately $30,780,619.73. This represents a 19.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 24.00% of the company's stock.

Maplebear Trading Up 3.5%

Shares of CART opened at $45.62 on Wednesday. The firm has a 50-day moving average price of $44.13 and a 200 day moving average price of $40.62. The firm has a market capitalization of $10.72 billion, a P/E ratio of 25.49, a P/E/G ratio of 0.60 and a beta of 0.75. Maplebear Inc. has a 12-month low of $32.73 and a 12-month high of $53.50.

Maplebear (NASDAQ:CART - Get Free Report) last posted its earnings results on Wednesday, May 6th. The company reported $0.57 EPS for the quarter, missing analysts' consensus estimates of $0.58 by ($0.01). Maplebear had a net margin of 12.50% and a return on equity of 18.67%. The company had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.01 billion. During the same period in the previous year, the company earned $0.37 EPS. The company's quarterly revenue was up 13.6% compared to the same quarter last year. Equities research analysts predict that Maplebear Inc. will post 2.46 earnings per share for the current fiscal year.

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.

Want to see what other hedge funds are holding CART? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Maplebear Inc. (NASDAQ:CART - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.