Danske Bank A S Sells 25,282 Shares of Maplebear Inc. $CART

Key Points

• Danske Bank A S sharply cut its Maplebear stake by 95.8% in the fourth quarter, selling 25,282 shares and leaving it with just 1,100 shares worth about $49,000.
• Insider selling has also been notable, with General Counsel Morgan Fong and CAO Lisa Blackwood-Kapral selling shares over the last few months; insiders have sold 144,863 shares total in the past three months.
• Maplebear’s latest results slightly missed EPS estimates at $0.57 versus $0.58 expected, while revenue came in ahead of forecasts at $1.02 billion and rose 13.6% year over year.

Danske Bank A S cut its position in shares of Maplebear Inc. (NASDAQ:CART - Free Report) by 95.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,100 shares of the company's stock after selling 25,282 shares during the quarter. Danske Bank A S's holdings in Maplebear were worth $49,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Hantz Financial Services Inc. lifted its position in shares of Maplebear by 78.6% in the 3rd quarter. Hantz Financial Services Inc. now owns 884 shares of the company's stock worth $32,000 after acquiring an additional 389 shares during the period. Allworth Financial LP increased its position in shares of Maplebear by 35.7% during the third quarter. Allworth Financial LP now owns 928 shares of the company's stock valued at $34,000 after purchasing an additional 244 shares during the period. Abich Financial Wealth Management LLC bought a new stake in shares of Maplebear during the third quarter valued at approximately $43,000. Sunbelt Securities Inc. raised its stake in shares of Maplebear by 212.7% in the third quarter. Sunbelt Securities Inc. now owns 1,157 shares of the company's stock valued at $43,000 after purchasing an additional 787 shares in the last quarter. Finally, CWM LLC raised its stake in shares of Maplebear by 42.2% in the third quarter. CWM LLC now owns 1,634 shares of the company's stock valued at $60,000 after purchasing an additional 485 shares in the last quarter. 63.09% of the stock is currently owned by institutional investors.

Insider Activity

In other Maplebear news, General Counsel Morgan Fong sold 126,083 shares of the business's stock in a transaction dated Wednesday, March 11th. The shares were sold at an average price of $37.09, for a total value of $4,676,418.47. Following the transaction, the general counsel directly owned 386,643 shares in the company, valued at $14,340,588.87. The trade was a 24.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Lisa Blackwood-Kapral sold 9,390 shares of the company's 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 sale, the chief accounting officer directly owned 58,971 shares in the company, valued at $2,373,582.75. This represents a 13.74% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 144,863 shares of company stock valued at $5,418,135 over the last three months. 24.00% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

CART has been the topic of a number of recent research reports. Benchmark decreased their price target on shares of Maplebear from $60.00 to $53.00 and set a "buy" rating on the stock in a research note on Tuesday, February 10th. BNP Paribas Exane assumed coverage on shares of Maplebear in a research note on Wednesday, January 14th. They issued an "underperform" rating and a $41.00 price objective for the company. Argus raised shares of Maplebear to a "strong-buy" rating in a report on Thursday, March 5th. Stifel Nicolaus decreased their target price on shares of Maplebear from $49.00 to $46.00 and set a "buy" rating on the stock in a research report on Tuesday, January 27th. Finally, Raymond James Financial raised shares of Maplebear from a "hold" rating to a "moderate buy" rating in a research note on Thursday, April 9th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $51.39.

Maplebear Price Performance

Shares of NASDAQ:CART opened at $40.35 on Friday. The business's fifty day moving average price is $39.26 and its two-hundred day moving average price is $39.90. Maplebear Inc. has a fifty-two week low of $32.73 and a fifty-two week high of $53.50. The stock has a market capitalization of $9.55 billion, a price-to-earnings ratio of 22.54, a price-to-earnings-growth ratio of 0.53 and a beta of 0.96.

Maplebear (NASDAQ:CART - Get Free Report) last issued its quarterly earnings data on Wednesday, May 6th. The company reported $0.57 earnings per share (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 for the quarter, compared to the consensus estimate of $1.01 billion. During the same period in the previous year, the business posted $0.37 earnings per share. The firm's revenue was up 13.6% compared to the same quarter last year. Research analysts expect that Maplebear Inc. will post 2.43 EPS for the current fiscal year.

Maplebear Company 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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