Neo Ivy Capital Management Has $1.43 Million Holdings in Maplebear Inc. (NASDAQ:CART)

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

Several other institutional investors have also made changes to their positions in CART. Jones Financial Companies Lllp raised its position in Maplebear by 46.6% during the fourth 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 raised its position in Maplebear by 101.4% during the fourth 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 position in Maplebear by 277.9% during the fourth quarter. NewEdge Advisors LLC now owns 975 shares of the company's stock valued at $40,000 after purchasing an additional 717 shares in the last quarter. Anderson Financial Strategies LLC acquired a new position in Maplebear during the fourth quarter valued at approximately $46,000. Finally, Cullen Frost Bankers Inc. acquired a new position in Maplebear during the fourth quarter valued at approximately $62,000. 63.09% of the stock is currently owned by institutional investors.

Maplebear Stock Up 0.1%

CART traded up $0.06 during trading on Tuesday, reaching $47.05. 3,265,615 shares of the stock traded hands, compared to its average volume of 4,048,002. The stock has a market capitalization of $12.35 billion, a PE ratio of 31.58, a P/E/G ratio of 1.19 and a beta of 1.19. The stock's 50-day moving average is $42.08 and its 200 day moving average is $43.54. Maplebear Inc. has a 12 month low of $29.84 and a 12 month high of $53.44.

Maplebear (NASDAQ:CART - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The company reported $0.37 EPS for the quarter, missing analysts' consensus estimates of $0.38 by ($0.01). The firm 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 business's revenue was up 9.4% compared to the same quarter last year. During the same period last year, the company posted $0.43 EPS. As a group, equities research analysts anticipate that Maplebear Inc. will post 1.43 EPS for the current year.

Insider Transactions at Maplebear

In related news, CEO Fidji Simo sold 2,033 shares of the company's stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $40.00, for a total value of $81,320.00. Following the sale, the chief executive officer now owns 1,654,559 shares in the company, valued at $66,182,360. This represents a 0.12% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, General Counsel Morgan Fong sold 5,249 shares of the company's stock in a transaction dated Monday, April 21st. The stock was sold at an average price of $42.57, for a total transaction of $223,449.93. Following the completion of the sale, the general counsel now owns 484,292 shares in the company, valued at $20,616,310.44. This represents a 1.07% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 36,165 shares of company stock valued at $1,541,785 in the last 90 days. 26.00% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have commented on the stock. Barclays boosted their price objective on shares of Maplebear from $58.00 to $61.00 and gave the company an "overweight" rating in a research report on Friday, May 2nd. Citigroup upped their price target on shares of Maplebear from $55.00 to $57.00 and gave the stock a "buy" rating in a report on Tuesday, May 13th. Seaport Res Ptn upgraded shares of Maplebear to a "strong-buy" rating in a report on Wednesday, February 12th. FBN Securities started coverage on shares of Maplebear in a report on Friday, March 28th. They set a "sector perform" rating and a $44.00 price target for the company. Finally, Wells Fargo & Company lowered their price target on shares of Maplebear from $47.00 to $44.00 and set an "equal weight" rating for the company in a report on Thursday, April 3rd. 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 stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $51.61.

Maplebear 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.