Nuveen Asset Management LLC Sells 15,175 Shares of Maplebear Inc. (NASDAQ:CART)

Nuveen Asset Management LLC lowered its stake in Maplebear Inc. (NASDAQ:CART - Free Report) by 3.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 438,574 shares of the company's stock after selling 15,175 shares during the quarter. Nuveen Asset Management LLC owned 0.17% of Maplebear worth $18,166,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Jones Financial Companies Lllp boosted its holdings in Maplebear by 46.6% in the fourth quarter. Jones Financial Companies Lllp now owns 698 shares of the company's stock worth $29,000 after purchasing an additional 222 shares during the last quarter. Allworth Financial LP boosted its holdings in shares of Maplebear by 101.4% in the fourth quarter. Allworth Financial LP now owns 834 shares of the company's stock worth $37,000 after buying an additional 420 shares during the last quarter. CIBC Asset Management Inc boosted its holdings in shares of Maplebear by 5.4% in the fourth quarter. CIBC Asset Management Inc now owns 8,554 shares of the company's stock worth $354,000 after buying an additional 440 shares during the last quarter. Coldstream Capital Management Inc. boosted its holdings in shares of Maplebear by 2.0% in the fourth quarter. Coldstream Capital Management Inc. now owns 32,393 shares of the company's stock worth $1,342,000 after buying an additional 648 shares during the last quarter. Finally, NewEdge Advisors LLC boosted its holdings in shares of Maplebear by 277.9% in the fourth quarter. NewEdge Advisors LLC now owns 975 shares of the company's stock worth $40,000 after buying an additional 717 shares during the last quarter. Hedge funds and other institutional investors own 63.09% of the company's stock.

Maplebear Stock Performance

Shares of Maplebear stock traded down $0.22 on Wednesday, hitting $46.83. 1,563,313 shares of the company traded hands, compared to its average volume of 4,434,668. The stock has a market capitalization of $12.29 billion, a P/E ratio of 31.53, a price-to-earnings-growth ratio of 1.19 and a beta of 1.19. Maplebear Inc. has a 52 week low of $29.84 and a 52 week high of $53.44. The business has a 50-day simple moving average of $42.24 and a 200 day simple moving average of $43.57.

Maplebear (NASDAQ:CART - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The company reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.01). The company had revenue of $897.00 million for the quarter, compared to the consensus estimate of $896.86 million. Maplebear had a net margin of 13.37% and a return on equity of 13.78%. The company's quarterly revenue was up 9.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.43 EPS. Research analysts expect that Maplebear Inc. will post 1.43 earnings per share for the current year.

Insider Buying and Selling

In related news, General Counsel Morgan Fong sold 5,249 shares of the business's stock in a transaction on Monday, April 21st. The shares were sold at an average price of $42.57, for a total value of $223,449.93. Following the sale, the general counsel now owns 484,292 shares in the company, valued at approximately $20,616,310.44. The trade was a 1.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Fidji Simo sold 8,133 shares of the business's stock in a transaction that occurred on Monday, April 14th. The shares were sold at an average price of $41.60, for a total value of $338,332.80. Following the transaction, the chief executive officer now directly owns 1,646,426 shares in the company, valued at approximately $68,491,321.60. This represents a 0.49% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 15,415 shares of company stock worth $643,103. Insiders own 26.00% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. Needham & Company LLC reissued a "buy" rating and issued a $56.00 price objective on shares of Maplebear in a report on Friday, May 2nd. Wells Fargo & Company dropped their price objective on shares of Maplebear from $47.00 to $44.00 and set an "equal weight" rating on the stock in a report on Thursday, April 3rd. FBN Securities assumed coverage on shares of Maplebear in a report on Friday, March 28th. They issued a "sector perform" rating and a $44.00 price objective on the stock. Loop Capital raised their price objective on shares of Maplebear from $52.00 to $58.00 and gave the stock a "buy" rating in a report on Monday, May 19th. Finally, BMO Capital Markets raised their price objective on shares of Maplebear from $48.00 to $49.00 and gave the stock a "market perform" rating in a report on Wednesday, February 26th. Twelve analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $51.61.

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.