Tabor Asset Management LP Reduces Stock Holdings in Maplebear Inc. (NASDAQ:CART)

Tabor Asset Management LP reduced its position in shares of Maplebear Inc. (NASDAQ:CART - Free Report) by 59.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 27,599 shares of the company's stock after selling 40,127 shares during the period. Tabor Asset Management LP's holdings in Maplebear were worth $1,101,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. Proathlete Wealth Management LLC acquired a new stake in Maplebear in the first quarter valued at $26,000. NewEdge Advisors LLC raised its holdings in Maplebear by 277.9% during the fourth quarter. NewEdge Advisors LLC now owns 975 shares of the company's stock worth $40,000 after purchasing an additional 717 shares in the last quarter. UMB Bank n.a. boosted its holdings in shares of 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. Spire Wealth Management purchased a new position in shares of Maplebear in the 1st quarter valued at $41,000. Finally, CWM LLC raised its stake in Maplebear by 35.1% during the 1st quarter. CWM LLC now owns 1,058 shares of the company's stock worth $42,000 after acquiring an additional 275 shares in the last quarter. 63.09% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Maplebear

In other news, Director Levien Meredith A. Kopit sold 4,225 shares of the firm's stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $47.45, for a total transaction of $200,476.25. Following the sale, the director owned 20,829 shares in the company, valued at $988,336.05. This trade represents a 16.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Fidji Simo sold 14,233 shares of the stock in a transaction dated Monday, July 14th. The stock was sold at an average price of $47.86, for a total value of $681,191.38. Following the transaction, the chief executive officer owned 2,032,005 shares in the company, valued at $97,251,759.30. This trade represents a 0.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 23,138 shares of company stock valued at $1,087,120. 26.00% of the stock is owned by insiders.

Maplebear Price Performance

Maplebear stock traded down $0.08 during trading hours on Monday, hitting $49.03. The stock had a trading volume of 2,820,218 shares, compared to its average volume of 3,958,727. The stock has a market capitalization of $12.87 billion, a price-to-earnings ratio of 32.26, a PEG ratio of 2.07 and a beta of 1.21. Maplebear Inc. has a 1-year low of $29.84 and a 1-year high of $53.44. The stock's fifty day moving average is $45.93 and its two-hundred day moving average is $44.33.

Maplebear (NASDAQ:CART - Get Free Report) last announced its earnings results on Thursday, May 1st. The company reported $0.37 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.38 by ($0.01). The business had revenue of $897.00 million for the quarter, compared to analyst estimates of $896.86 million. Maplebear had a return on equity of 14.12% and a net margin of 12.45%. The business's revenue was up 9.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.43 EPS. As a group, sell-side analysts anticipate that Maplebear Inc. will post 1.43 EPS for the current year.

Analysts Set New Price Targets

CART has been the topic of several research analyst reports. Stifel Nicolaus cut their price target on Maplebear from $57.00 to $54.00 and set a "buy" rating on the stock in a research report on Wednesday, April 23rd. Wall Street Zen downgraded shares of Maplebear from a "buy" rating to a "hold" rating in a research report on Friday, May 30th. Robert W. Baird raised their price objective on shares of Maplebear from $47.00 to $52.00 and gave the stock an "outperform" rating in a research report on Thursday. Jefferies Financial Group boosted their price target on Maplebear from $48.00 to $50.00 and gave the company a "hold" rating in a research report on Tuesday, May 27th. Finally, Wells Fargo & Company lowered their target price on Maplebear from $47.00 to $44.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 3rd. Eleven equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $52.30.

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.