Jacobs Levy Equity Management Inc. Has $35.10 Million Holdings in Maplebear Inc. $CART

Key Points

• Jacobs Levy Equity Management Inc. has reduced its stake in Maplebear Inc. ($CART) by 71.4%, owning approximately 0.34% of the company after selling over 2.2 million shares.
• Institutional investors collectively hold 63.09% of Maplebear's stock, with notable increases from firms like Victory Capital Management and Invesco Ltd. in the first quarter.
• Recent analyst evaluations are mixed, with Barclays raising the price target to $65.00 while Wedbush lowered their target to $42.00, reflecting varied expectations for the company's performance.

Jacobs Levy Equity Management Inc. lessened its position in shares of Maplebear Inc. (NASDAQ:CART - Free Report) by 71.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 879,871 shares of the company's stock after selling 2,201,976 shares during the quarter. Jacobs Levy Equity Management Inc. owned approximately 0.34% of Maplebear worth $35,098,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of CART. Proathlete Wealth Management LLC acquired a new stake in shares of Maplebear during the 1st quarter worth approximately $26,000. UMB Bank n.a. boosted its stake in Maplebear by 914.1% in the 1st quarter. UMB Bank n.a. now owns 1,004 shares of the company's stock valued at $40,000 after buying an additional 905 shares in the last quarter. Brooklyn Investment Group acquired a new stake in Maplebear in the 1st quarter valued at $40,000. Spire Wealth Management acquired a new stake in Maplebear in the 1st quarter valued at $41,000. Finally, CWM LLC boosted its stake in Maplebear by 35.1% in the 1st quarter. CWM LLC now owns 1,058 shares of the company's stock valued at $42,000 after buying an additional 275 shares in the last quarter. Institutional investors and hedge funds own 63.09% of the company's stock.

Maplebear Price Performance

Shares of CART stock traded down $0.79 on Thursday, reaching $46.20. 2,057,837 shares of the stock were exchanged, compared to its average volume of 4,346,373. The stock has a market cap of $12.17 billion, a PE ratio of 26.74, a P/E/G ratio of 1.52 and a beta of 1.21. Maplebear Inc. has a one year low of $35.14 and a one year high of $53.50. The stock has a 50 day moving average price of $46.86 and a 200 day moving average price of $44.06.

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

Insider Transactions at Maplebear

In other news, CEO Fidji Simo sold 6,640 shares of the business's stock in a transaction on Wednesday, July 23rd. The stock was 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 owned 1,958,805 shares in the company, valued at $97,940,250. The trade was a 0.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Grosvenor L.P. Gcm sold 4,864,272 shares of the business's stock in a transaction on Friday, July 25th. The stock was sold at an average price of $47.75, for a total value of $232,268,988.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 4,971,102 shares of company stock worth $237,536,372. Insiders own 26.00% of the company's stock.

Analyst Ratings Changes

Several analysts recently commented on CART shares. Needham & Company LLC boosted their price target on Maplebear from $56.00 to $66.00 and gave the company a "buy" rating in a research note on Friday, August 8th. Bank of America boosted their price target on Maplebear from $53.00 to $58.00 and gave the company a "neutral" rating in a research note on Friday, August 8th. Wall Street Zen raised Maplebear from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. Jefferies Financial Group boosted their price target on Maplebear from $50.00 to $55.00 and gave the company a "hold" rating in a research note on Monday, August 11th. Finally, Wedbush reiterated an "underperform" rating and issued a $42.00 price objective (down previously from $55.00) on shares of Maplebear in a research report on Thursday, August 21st. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $55.71.

About Maplebear

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.