Maplebear Inc. (NASDAQ:CART) Position Trimmed by Penserra Capital Management LLC

Penserra Capital Management LLC trimmed its holdings in Maplebear Inc. (NASDAQ:CART - Free Report) by 7.3% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 87,563 shares of the company's stock after selling 6,864 shares during the period. Penserra Capital Management LLC's holdings in Maplebear were worth $3,492,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in shares of Maplebear by 16.8% in the fourth quarter. Vanguard Group Inc. now owns 15,968,358 shares of the company's stock worth $661,409,000 after buying an additional 2,300,288 shares during the last quarter. T. Rowe Price Investment Management Inc. increased its position in shares of Maplebear by 15.5% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 4,744,652 shares of the company's stock worth $196,524,000 after purchasing an additional 635,930 shares during the last quarter. Jacobs Levy Equity Management Inc. raised its stake in shares of Maplebear by 85.0% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 3,081,847 shares of the company's stock valued at $127,650,000 after purchasing an additional 1,416,426 shares in the last quarter. Boston Partners bought a new position in shares of Maplebear during the fourth quarter worth about $111,506,000. Finally, Two Sigma Advisers LP lifted its position in shares of Maplebear by 59.6% during the fourth quarter. Two Sigma Advisers LP now owns 2,645,500 shares of the company's stock worth $109,577,000 after purchasing an additional 987,700 shares during the last quarter. 63.09% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, 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 transaction of $338,332.80. Following the completion of the transaction, the chief executive officer owned 1,646,426 shares of the company's stock, valued at $68,491,321.60. This trade represents a 0.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, General Counsel Morgan Fong sold 4,680 shares of the business's stock in a transaction dated Friday, June 20th. The stock was sold at an average price of $43.90, for a total transaction of $205,452.00. Following the completion of the sale, the general counsel owned 456,680 shares in the company, valued at approximately $20,048,252. This trade represents a 1.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 22,287 shares of company stock valued at $967,711 over the last quarter. Corporate insiders own 26.00% of the company's stock.

Maplebear Price Performance

Shares of NASDAQ CART traded down $0.74 during midday trading on Wednesday, reaching $47.97. 306,001 shares of the company traded hands, compared to its average volume of 3,933,363. The stock has a 50-day moving average price of $45.20 and a 200 day moving average price of $44.01. The company has a market cap of $12.59 billion, a price-to-earnings ratio of 31.61, a PEG ratio of 2.06 and a beta of 1.21. 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 released 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 company had revenue of $897.00 million for the quarter, compared to the consensus estimate of $896.86 million. Maplebear had a return on equity of 14.12% and a net margin of 12.45%. The firm's quarterly revenue was up 9.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.43 earnings per share. As a group, analysts expect that Maplebear Inc. will post 1.43 EPS for the current year.

Analyst Ratings Changes

Several analysts have issued reports on CART shares. Barclays upped their price objective on Maplebear from $58.00 to $61.00 and gave the company an "overweight" rating in a research note on Friday, May 2nd. Needham & Company LLC reissued a "buy" rating and set a $56.00 price target on shares of Maplebear in a research report on Friday, May 2nd. Stifel Nicolaus decreased their price objective on shares of Maplebear from $57.00 to $54.00 and set a "buy" rating for the company in a report on Wednesday, April 23rd. Wells Fargo & Company lowered their target price on shares of 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, Citigroup raised their price target on shares of Maplebear from $55.00 to $57.00 and gave the stock a "buy" rating in a research report on Tuesday, May 13th. Thirteen investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $51.91.

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.