Maplebear Inc. (NASDAQ:CART) Shares Sold by Sapient Capital LLC

Sapient Capital LLC cut its stake in Maplebear Inc. (NASDAQ:CART - Free Report) by 23.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 66,406 shares of the company's stock after selling 20,590 shares during the period. Sapient Capital LLC's holdings in Maplebear were worth $2,649,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in CART. Vanguard Group Inc. lifted its position in Maplebear by 16.8% during the 4th quarter. Vanguard Group Inc. now owns 15,968,358 shares of the company's stock valued at $661,409,000 after acquiring an additional 2,300,288 shares during the period. T. Rowe Price Investment Management Inc. increased its holdings in 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 buying an additional 635,930 shares in the last quarter. Victory Capital Management Inc. grew its stake in shares of Maplebear by 11,501.2% in the fourth quarter. Victory Capital Management Inc. now owns 4,526,673 shares of the company's stock worth $187,495,000 after acquiring an additional 4,487,654 shares during the period. Jacobs Levy Equity Management Inc. lifted its holdings in shares of Maplebear by 85.0% during 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 buying an additional 1,416,426 shares during the period. Finally, Boston Partners purchased a new position in shares of Maplebear in the 4th quarter worth $111,506,000. Hedge funds and other institutional investors own 63.09% of the company's stock.

Analyst Ratings Changes

CART has been the subject of a number of recent research reports. Macquarie reissued an "outperform" rating and set a $55.00 price objective on shares of Maplebear in a research report on Tuesday, May 6th. Stifel Nicolaus lowered their price objective on Maplebear from $57.00 to $54.00 and set a "buy" rating on the stock in a research report on Wednesday, April 23rd. Wedbush decreased their target price on shares of Maplebear from $48.00 to $46.00 and set a "neutral" rating on the stock in a research note on Wednesday, February 26th. Benchmark reiterated a "hold" rating on shares of Maplebear in a research report on Wednesday, February 26th. Finally, JMP Securities restated a "market outperform" rating and set a $55.00 price objective on shares of Maplebear in a research report on Thursday. Thirteen equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $51.91.

Insider Buying and Selling

In other Maplebear news, Director Levien Meredith A. Kopit sold 4,225 shares of the company's stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $47.45, for a total value of $200,476.25. Following the sale, the director now directly owns 20,829 shares of the company's stock, valued at approximately $988,336.05. This represents a 16.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 sale, the general counsel now directly owns 484,292 shares in the company, valued at approximately $20,616,310.44. This trade represents a 1.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 19,640 shares of company stock valued at $843,579 over the last quarter. 26.00% of the stock is currently owned by company insiders.

Maplebear Stock Performance

CART traded down $0.74 during trading on Friday, hitting $43.34. The stock had a trading volume of 2,168,844 shares, compared to its average volume of 4,342,379. The stock has a 50 day simple moving average of $43.63 and a two-hundred day simple moving average of $43.73. Maplebear Inc. has a twelve month low of $29.84 and a twelve month high of $53.44. The company has a market capitalization of $11.38 billion, a PE ratio of 29.08, a PEG ratio of 1.19 and a beta of 1.30.

Maplebear (NASDAQ:CART - Get Free Report) last posted its quarterly earnings data 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 business had revenue of $897.00 million during the quarter, compared to analyst estimates of $896.86 million. During the same period in the previous year, the business earned $0.43 EPS. The firm's revenue for the quarter was up 9.4% compared to the same quarter last year. On average, equities research analysts anticipate that Maplebear Inc. will post 1.43 EPS for the current year.

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.