Sherbrooke Park Advisers LLC Has $295,000 Holdings in Maplebear Inc. (NASDAQ:CART)

Sherbrooke Park Advisers LLC reduced its position in Maplebear Inc. (NASDAQ:CART - Free Report) by 57.6% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 7,127 shares of the company's stock after selling 9,673 shares during the period. Sherbrooke Park Advisers LLC's holdings in Maplebear were worth $295,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Victory Capital Management Inc. boosted its holdings in Maplebear by 11,501.2% in the fourth quarter. Victory Capital Management Inc. now owns 4,526,673 shares of the company's stock valued at $187,495,000 after acquiring an additional 4,487,654 shares during the last quarter. Boston Partners acquired a new position in Maplebear during the 4th quarter valued at about $111,506,000. Altimeter Capital Management LP bought a new position in shares of Maplebear in the 4th quarter valued at about $105,108,000. Vanguard Group Inc. boosted its stake in shares of Maplebear by 16.8% in the 4th quarter. Vanguard Group Inc. now owns 15,968,358 shares of the company's stock valued at $661,409,000 after purchasing an additional 2,300,288 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of Maplebear during the 4th quarter worth approximately $95,162,000. Institutional investors own 63.09% of the company's stock.

Wall Street Analysts Forecast Growth

CART has been the subject of a number of analyst reports. Bank of America boosted their price objective on shares of Maplebear from $51.00 to $53.00 and gave the company a "neutral" rating in a report on Tuesday, February 25th. Macquarie restated an "outperform" rating and issued a $55.00 price objective on shares of Maplebear in a research report on Tuesday, May 6th. Benchmark reiterated a "hold" rating on shares of Maplebear in a research report on Wednesday, February 26th. JPMorgan Chase & Co. lowered their target price on Maplebear from $50.00 to $44.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. Finally, Wedbush dropped their target price on shares of Maplebear from $48.00 to $46.00 and set a "neutral" rating on the stock in a report on Wednesday, February 26th. Twelve 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. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $51.30.

Insiders Place Their Bets

In other news, CEO Fidji Simo sold 2,033 shares of the stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $40.00, for a total transaction of $81,320.00. Following the transaction, the chief executive officer now owns 1,654,559 shares in the company, valued at approximately $66,182,360. This trade represents a 0.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Morgan Fong sold 5,249 shares of Maplebear 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 sale, the general counsel now directly owns 484,292 shares of the company's stock, valued at approximately $20,616,310.44. The trade was a 1.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 36,165 shares of company stock worth $1,541,785 over the last three months. Insiders own 26.00% of the company's stock.

Maplebear Stock Performance

Maplebear stock traded up $0.12 during midday trading on Thursday, reaching $47.03. 2,526,691 shares of the company's stock were exchanged, compared to its average volume of 4,045,049. The stock's 50-day simple moving average is $41.67 and its 200 day simple moving average is $43.59. The firm has a market cap of $12.35 billion, a price-to-earnings ratio of 31.56, a P/E/G 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.

Maplebear (NASDAQ:CART - Get Free Report) last announced its quarterly earnings results 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 business had revenue of $897.00 million for the quarter, compared to analyst estimates of $896.86 million. Maplebear had a net margin of 13.37% and a return on equity of 13.78%. The company's revenue for the quarter was up 9.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.43 EPS. Research analysts forecast that Maplebear Inc. will post 1.43 earnings per share for the current year.

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.