BI Asset Management Fondsmaeglerselskab A S Sells 91,428 Shares of Maplebear Inc. $CART

Key Points

• BI Asset Management sharply cut its Maplebear stake by 84.8% in the fourth quarter, selling 91,428 shares and leaving it with 16,448 shares valued at about $740,000.
• Insider selling has also been significant, with Director Ravi Gupta and CAO Lisa Blackwood-Kapral both reducing their holdings; insiders sold 199,780 shares worth roughly $8.26 million over the last 90 days.
• Maplebear reported mixed quarterly results, beating revenue estimates at $1.02 billion but missing EPS by a penny, while analysts currently rate the stock Moderate Buy with a consensus price target of $51.09.

BI Asset Management Fondsmaeglerselskab A S cut its position in shares of Maplebear Inc. (NASDAQ:CART - Free Report) by 84.8% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 16,448 shares of the company's stock after selling 91,428 shares during the period. BI Asset Management Fondsmaeglerselskab A S's holdings in Maplebear were worth $740,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of CART. Allworth Financial LP increased its holdings in shares of Maplebear by 35.7% in the 3rd quarter. Allworth Financial LP now owns 928 shares of the company's stock valued at $34,000 after acquiring an additional 244 shares during the period. Smartleaf Asset Management LLC increased its holdings in shares of Maplebear by 9.6% in the 2nd quarter. Smartleaf Asset Management LLC now owns 2,978 shares of the company's stock valued at $134,000 after acquiring an additional 261 shares during the period. Rafferty Asset Management LLC increased its holdings in shares of Maplebear by 2.5% in the 2nd quarter. Rafferty Asset Management LLC now owns 11,000 shares of the company's stock valued at $498,000 after acquiring an additional 273 shares during the period. Crossmark Global Holdings Inc. increased its holdings in shares of Maplebear by 5.0% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 6,423 shares of the company's stock valued at $236,000 after acquiring an additional 304 shares during the period. Finally, Hantz Financial Services Inc. increased its holdings in shares of Maplebear by 78.6% in the 3rd quarter. Hantz Financial Services Inc. now owns 884 shares of the company's stock valued at $32,000 after acquiring an additional 389 shares during the period. 63.09% of the stock is owned by institutional investors.

Insider Transactions at Maplebear

In other Maplebear news, CAO Lisa Blackwood-Kapral sold 9,390 shares of Maplebear stock in a transaction dated Wednesday, April 15th. The stock was sold at an average price of $40.25, for a total transaction of $377,947.50. Following the completion of the sale, the chief accounting officer owned 58,971 shares of the company's stock, valued at approximately $2,373,582.75. The trade was a 13.74% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ravi Gupta sold 181,000 shares of Maplebear stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $41.51, for a total value of $7,513,310.00. Following the sale, the director directly owned 741,523 shares of the company's stock, valued at approximately $30,780,619.73. This represents a 19.62% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 199,780 shares of company stock valued at $8,255,026. 24.00% of the stock is currently owned by insiders.

Maplebear Stock Performance

Shares of CART opened at $41.21 on Thursday. The stock has a 50-day moving average of $40.84 and a two-hundred day moving average of $40.25. Maplebear Inc. has a one year low of $32.73 and a one year high of $53.50. The stock has a market cap of $9.69 billion, a P/E ratio of 23.02, a P/E/G ratio of 0.58 and a beta of 0.88.

Maplebear (NASDAQ:CART - Get Free Report) last issued its quarterly 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 return on equity of 18.67% and a net margin of 12.50%.The firm had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.01 billion. During the same period in the prior year, the firm posted $0.37 EPS. The business's revenue was up 13.6% compared to the same quarter last year. Analysts predict that Maplebear Inc. will post 2.45 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

CART has been the topic of a number of analyst reports. Barclays lifted their price target on Maplebear from $65.00 to $69.00 and gave the company an "overweight" rating in a report on Thursday, May 7th. Jefferies Financial Group upgraded Maplebear from a "hold" rating to a "buy" rating and lifted their price target for the company from $38.00 to $45.00 in a report on Monday, March 30th. Wall Street Zen downgraded Maplebear from a "buy" rating to a "hold" rating in a report on Saturday, May 2nd. Weiss Ratings upgraded Maplebear from a "hold (c-)" rating to a "hold (c)" rating in a report on Monday, May 11th. Finally, Raymond James Financial raised Maplebear from a "hold" rating to a "moderate buy" rating in a research report on Thursday, April 9th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, Maplebear currently has a consensus rating of "Moderate Buy" and a consensus target price of $51.09.

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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