Gotham Asset Management LLC Sells 17,709 Shares of Maplebear Inc. $CART

Key Points

• Gotham Asset Management LLC reduced its holdings in Maplebear Inc. (NASDAQ:CART) by 5.9% in Q1, now owning 282,911 shares valued at approximately $11.3 million.
• Maplebear reported a quarterly earnings per share of $0.41, exceeding analyst expectations of $0.39, and posted revenue of $914 million, up 11.1% year-over-year.
• Several hedge funds have increased their positions in Maplebear, with Ameriprise Financial notably growing its stake by 533.6% during the fourth quarter.

Gotham Asset Management LLC lowered its holdings in shares of Maplebear Inc. (NASDAQ:CART - Free Report) by 5.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 282,911 shares of the company's stock after selling 17,709 shares during the quarter. Gotham Asset Management LLC owned about 0.11% of Maplebear worth $11,285,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of CART. Vanguard Group Inc. raised its holdings in Maplebear by 3.4% during the first quarter. Vanguard Group Inc. now owns 16,514,830 shares of the company's stock valued at $658,777,000 after buying an additional 546,472 shares in the last quarter. Victory Capital Management Inc. raised its holdings in Maplebear by 62.8% during the first quarter. Victory Capital Management Inc. now owns 7,368,232 shares of the company's stock valued at $293,919,000 after buying an additional 2,841,559 shares in the last quarter. T. Rowe Price Investment Management Inc. raised its holdings in Maplebear by 10.2% during the first quarter. T. Rowe Price Investment Management Inc. now owns 5,226,979 shares of the company's stock valued at $208,505,000 after buying an additional 482,327 shares in the last quarter. Altimeter Capital Management LP raised its stake in shares of Maplebear by 31.9% in the 1st quarter. Altimeter Capital Management LP now owns 3,348,128 shares of the company's stock valued at $133,557,000 after acquiring an additional 810,510 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. raised its stake in shares of Maplebear by 85.0% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 3,081,847 shares of the company's stock valued at $127,650,000 after acquiring an additional 1,416,426 shares in the last quarter. Institutional investors own 63.09% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on CART shares. Robert W. Baird cut their price objective on Maplebear from $65.00 to $60.00 and set an "outperform" rating on the stock in a research note on Friday, August 22nd. JMP Securities lifted their price target on shares of Maplebear from $55.00 to $60.00 and gave the company a "market outperform" rating in a research report on Friday, August 8th. Benchmark upgraded shares of Maplebear from a "hold" rating to a "buy" rating and set a $67.00 target price on the stock in a report on Friday, August 8th. Morgan Stanley lifted their target price on shares of Maplebear from $45.00 to $48.00 and gave the stock an "equal weight" rating in a report on Friday, August 15th. Finally, Bank of America lifted their price objective on Maplebear from $53.00 to $58.00 and gave the stock a "neutral" rating in a research note on Friday, August 8th. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, Maplebear presently has a consensus rating of "Moderate Buy" and an average target price of $55.71.

Insider Transactions at Maplebear

In other Maplebear news, insider Grosvenor L.P. Gcm sold 4,864,272 shares of the business's stock in a transaction on Friday, July 25th. The shares were sold at an average price of $47.75, for a total value of $232,268,988.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Fidji Simo sold 6,640 shares of the company's stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $50.00, for a total transaction of $332,000.00. Following the completion of the sale, the chief executive officer directly owned 1,958,805 shares in the company, valued at approximately $97,940,250. The trade was a 0.34% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 4,971,102 shares of company stock valued at $237,536,372. Company insiders own 26.00% of the company's stock.

Maplebear Trading Up 2.4%

CART traded up $1.11 on Friday, hitting $47.04. 2,413,931 shares of the stock traded hands, compared to its average volume of 4,354,242. Maplebear Inc. has a 52 week low of $35.14 and a 52 week high of $53.50. The firm has a market capitalization of $12.39 billion, a PE ratio of 27.23, a P/E/G ratio of 1.57 and a beta of 1.21. The business has a fifty day moving average price of $46.83 and a two-hundred day moving average price of $44.04.

Maplebear (NASDAQ:CART - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The company reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.02. Maplebear had a return on equity of 15.69% and a net margin of 13.76%.The firm had revenue of $914.00 million for the quarter, compared to analyst estimates of $896.55 million. During the same period in the previous year, the company posted $0.20 earnings per share. The company's quarterly revenue was up 11.1% compared to the same quarter last year. On average, equities research analysts forecast that Maplebear Inc. will post 1.43 EPS for the current fiscal 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.