Jupiter Asset Management Ltd. Has $20.34 Million Holdings in Maplebear Inc. (NASDAQ:CART)

Key Points

• Jupiter Asset Management Ltd. has reduced its holdings in Maplebear Inc. by 20.4% during the first quarter, now owning 510,001 shares valued at approximately $20.34 million.
• In recent insider activity, Grosvenor L.P. Gcm sold nearly 4.9 million shares of Maplebear stock, totaling about $232.27 million, while General Counsel Morgan Fong also sold 4,680 shares.
• Analysts have mixed ratings for Maplebear, with 15 buy ratings and an average price target of $52.35, while the stock currently trades near $47.01.

Jupiter Asset Management Ltd. lessened its stake in Maplebear Inc. (NASDAQ:CART - Free Report) by 20.4% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 510,001 shares of the company's stock after selling 130,338 shares during the quarter. Jupiter Asset Management Ltd. owned approximately 0.19% of Maplebear worth $20,344,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Blueshift Asset Management LLC grew its position in shares of Maplebear by 129.7% during the 1st quarter. Blueshift Asset Management LLC now owns 15,585 shares of the company's stock valued at $622,000 after buying an additional 8,801 shares during the last quarter. US Bancorp DE grew its position in shares of Maplebear by 13.4% during the 1st quarter. US Bancorp DE now owns 14,832 shares of the company's stock valued at $592,000 after buying an additional 1,755 shares during the last quarter. Federated Hermes Inc. grew its position in Maplebear by 15.0% in the 1st quarter. Federated Hermes Inc. now owns 2,832,384 shares of the company's stock worth $112,984,000 after purchasing an additional 370,120 shares during the last quarter. Norden Group LLC bought a new position in shares of Maplebear in the first quarter valued at approximately $232,000. Finally, LPL Financial LLC bought a new position in shares of Maplebear in the first quarter valued at approximately $2,161,000. Institutional investors and hedge funds own 63.09% of the company's stock.

Insider Activity at Maplebear

In related news, insider Daniel Danker sold 10,037 shares of the firm's stock in a transaction on Friday, July 18th. The shares were sold at an average price of $48.82, for a total value of $490,006.34. Following the transaction, the insider directly owned 470,190 shares in the company, valued at approximately $22,954,675.80. This trade represents a 2.09% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, General Counsel Morgan Fong sold 4,680 shares of the firm's stock in a transaction on Monday, July 21st. The shares were sold at an average price of $49.16, for a total transaction of $230,068.80. Following the completion of the transaction, the general counsel owned 452,000 shares in the company, valued at $22,220,320. The trade was a 1.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 4,975,327 shares of company stock worth $237,736,848 over the last quarter. 26.00% of the stock is currently owned by corporate insiders.

Maplebear Stock Down 0.6%

Shares of CART traded down $0.30 during mid-day trading on Wednesday, hitting $47.64. 394,173 shares of the company's stock were exchanged, compared to its average volume of 4,148,298. The firm has a fifty day moving average of $46.50 and a two-hundred day moving average of $44.61. Maplebear Inc. has a twelve month low of $31.06 and a twelve month high of $53.44. The stock has a market cap of $12.51 billion, a price-to-earnings ratio of 31.46, a P/E/G ratio of 1.88 and a beta of 1.21.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Robert W. Baird increased their target price on shares of Maplebear from $47.00 to $52.00 and gave the company an "outperform" rating in a research note on Thursday, July 17th. JMP Securities reissued a "market outperform" rating and set a $55.00 target price on shares of Maplebear in a research note on Thursday, June 12th. Jefferies Financial Group increased their target price on shares of Maplebear from $48.00 to $50.00 and gave the company a "hold" rating in a research note on Tuesday, May 27th. Loop Capital increased their target price on shares of Maplebear from $52.00 to $58.00 and gave the company a "buy" rating in a research note on Monday, May 19th. Finally, Needham & Company LLC restated a "buy" rating and issued a $56.00 price target on shares of Maplebear in a research report on Friday, May 2nd. Eleven analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Maplebear has a consensus rating of "Moderate Buy" and an average target price of $52.35.

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.