Nuveen Asset Management LLC Has $18.17 Million Holdings in Maplebear Inc. (NASDAQ:CART)

Nuveen Asset Management LLC lowered its holdings in shares of Maplebear Inc. (NASDAQ:CART - Free Report) by 3.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 438,574 shares of the company's stock after selling 15,175 shares during the period. Nuveen Asset Management LLC owned about 0.17% of Maplebear worth $18,166,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Jones Financial Companies Lllp boosted its stake in shares of Maplebear by 46.6% in the 4th quarter. Jones Financial Companies Lllp now owns 698 shares of the company's stock valued at $29,000 after purchasing an additional 222 shares in the last quarter. Allworth Financial LP boosted its stake in shares of Maplebear by 101.4% in the 4th quarter. Allworth Financial LP now owns 834 shares of the company's stock valued at $37,000 after purchasing an additional 420 shares in the last quarter. NewEdge Advisors LLC raised 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 valued at $40,000 after buying an additional 717 shares during the last quarter. Anderson Financial Strategies LLC bought a new position in shares of Maplebear in the fourth quarter valued at about $46,000. Finally, Cullen Frost Bankers Inc. bought a new position in shares of Maplebear in the fourth quarter valued at about $62,000. 63.09% of the stock is owned by institutional investors.

Analysts Set New Price Targets

CART has been the subject of several recent research reports. Stifel Nicolaus dropped their price objective on Maplebear from $57.00 to $54.00 and set a "buy" rating for the company in a report on Wednesday, April 23rd. Barclays boosted their price objective on Maplebear from $58.00 to $61.00 and gave the stock an "overweight" rating in a report on Friday, May 2nd. JMP Securities reissued a "market outperform" rating and set a $55.00 price objective on shares of Maplebear in a report on Friday, April 11th. Wells Fargo & Company lowered their price target on Maplebear from $47.00 to $44.00 and set an "equal weight" rating for the company in a research note on Thursday, April 3rd. Finally, Macquarie reaffirmed an "outperform" rating and issued a $55.00 price target on shares of Maplebear in a research note on Tuesday, May 6th. Twelve investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $51.61.

Maplebear Stock Down 1.6%

Shares of CART traded down $0.73 on Thursday, hitting $46.29. The company's stock had a trading volume of 632,598 shares, compared to its average volume of 4,043,199. The firm's fifty day moving average price is $42.40 and its 200-day moving average price is $43.59. Maplebear Inc. has a fifty-two week low of $29.84 and a fifty-two week high of $53.44. The firm has a market capitalization of $12.15 billion, a price-to-earnings ratio of 31.07, a P/E/G ratio of 1.19 and a beta of 1.19.

Maplebear (NASDAQ:CART - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The company reported $0.37 earnings per share for the quarter, missing analysts' consensus estimates of $0.38 by ($0.01). Maplebear had a return on equity of 13.78% and a net margin of 13.37%. The firm had revenue of $897.00 million for the quarter, compared to analyst estimates of $896.86 million. During the same period last year, the company earned $0.43 EPS. The company's revenue was up 9.4% compared to the same quarter last year. As a group, equities analysts predict that Maplebear Inc. will post 1.43 earnings per share for the current fiscal year.

Insiders Place Their Bets

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

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.