Neo Ivy Capital Management Sells 12,557 Shares of Maplebear Inc. (NASDAQ:CART)

Neo Ivy Capital Management lowered its position in Maplebear Inc. (NASDAQ:CART - Free Report) by 26.6% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 34,599 shares of the company's stock after selling 12,557 shares during the quarter. Neo Ivy Capital Management's holdings in Maplebear were worth $1,433,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in CART. Jones Financial Companies Lllp increased its holdings in Maplebear by 46.6% in the 4th quarter. Jones Financial Companies Lllp now owns 698 shares of the company's stock worth $29,000 after acquiring an additional 222 shares during the last quarter. Allworth Financial LP grew its holdings in Maplebear by 101.4% during the 4th quarter. Allworth Financial LP now owns 834 shares of the company's stock valued at $37,000 after buying an additional 420 shares in the last quarter. NewEdge Advisors LLC grew its holdings in Maplebear by 277.9% during the 4th quarter. NewEdge Advisors LLC now owns 975 shares of the company's stock valued at $40,000 after buying an additional 717 shares in the last quarter. Anderson Financial Strategies LLC purchased a new position in Maplebear during the 4th quarter valued at about $46,000. Finally, Cullen Frost Bankers Inc. purchased a new position in Maplebear during the 4th quarter valued at about $62,000. Hedge funds and other institutional investors own 63.09% of the company's stock.

Wall Street Analyst Weigh In

CART has been the subject of a number of research analyst reports. BMO Capital Markets lifted their price target on Maplebear from $48.00 to $49.00 and gave the company a "market perform" rating in a research report on Wednesday, February 26th. Oppenheimer dropped their price target on Maplebear from $65.00 to $60.00 and set an "outperform" rating for the company in a research report on Wednesday, February 26th. JMP Securities reiterated a "market outperform" rating and set a $55.00 price target on shares of Maplebear in a research report on Friday, April 11th. Loop Capital lifted their price target on Maplebear from $52.00 to $58.00 and gave the company a "buy" rating in a research report on Monday, May 19th. Finally, Barclays upped their target price on Maplebear from $58.00 to $61.00 and gave the stock an "overweight" rating in a research note on Friday, May 2nd. Twelve 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. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $51.61.

Insider Activity at Maplebear

In other Maplebear news, General Counsel Morgan Fong sold 5,249 shares of the firm's stock in a transaction dated 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 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 firm's stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $41.60, for a total value of $338,332.80. Following the completion of the transaction, the chief executive officer now directly owns 1,646,426 shares in the company, valued at $68,491,321.60. This trade represents a 0.49% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 15,415 shares of company stock valued at $643,103 over the last ninety days. Insiders own 26.00% of the company's stock.

Maplebear Stock Down 2.2%

Shares of NASDAQ:CART traded down $1.04 on Thursday, hitting $45.98. 847,765 shares of the company traded hands, compared to its average volume of 4,044,015. Maplebear Inc. has a 52 week low of $29.84 and a 52 week high of $53.44. The stock has a 50 day simple moving average of $42.40 and a 200-day simple moving average of $43.59. The company has a market cap of $12.07 billion, a PE ratio of 30.87, a PEG ratio of 1.19 and a beta of 1.19.

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

Maplebear Company Profile

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.