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

Sapient Capital LLC lowered its holdings in Maplebear Inc. (NASDAQ:CART - Free Report) by 23.7% during the first 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 quarter. Sapient Capital LLC's holdings in Maplebear were worth $2,649,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in CART. Jones Financial Companies Lllp increased its stake in shares of Maplebear by 46.6% in the fourth 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 period. Allworth Financial LP boosted its holdings in Maplebear by 101.4% during the fourth quarter. Allworth Financial LP now owns 834 shares of the company's stock worth $37,000 after buying an additional 420 shares in the last quarter. NewEdge Advisors LLC boosted its holdings in Maplebear by 277.9% during the fourth quarter. NewEdge Advisors LLC now owns 975 shares of the company's stock worth $40,000 after buying an additional 717 shares in the last quarter. UMB Bank n.a. boosted its holdings in Maplebear by 914.1% during the first quarter. UMB Bank n.a. now owns 1,004 shares of the company's stock worth $40,000 after buying an additional 905 shares in the last quarter. Finally, Anderson Financial Strategies LLC purchased a new stake in Maplebear during the fourth quarter worth $46,000. Institutional investors and hedge funds own 63.09% of the company's stock.

Insiders Place Their Bets

In other Maplebear news, CEO Fidji Simo sold 2,033 shares of Maplebear stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $40.00, for a total transaction of $81,320.00. Following the transaction, the chief executive officer now directly owns 1,654,559 shares of the company's stock, valued at $66,182,360. The trade was 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 the SEC website. Also, Director Levien Meredith A. Kopit sold 4,225 shares of Maplebear stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $47.45, for a total transaction of $200,476.25. Following the transaction, the director now directly owns 20,829 shares in the company, valued at $988,336.05. This trade represents a 16.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 19,640 shares of company stock valued at $843,579 over the last ninety days. Company insiders own 26.00% of the company's stock.

Analyst Upgrades and Downgrades

CART has been the topic of a number of recent analyst reports. Needham & Company LLC reissued a "buy" rating and set a $56.00 price target on shares of Maplebear in a report on Friday, May 2nd. Stifel Nicolaus lowered their price target on shares of Maplebear from $57.00 to $54.00 and set a "buy" rating on the stock in a report on Wednesday, April 23rd. FBN Securities initiated coverage on shares of Maplebear in a report on Friday, March 28th. They set a "sector perform" rating and a $44.00 price target on the stock. Macquarie reissued an "outperform" rating and set a $55.00 price target on shares of Maplebear in a report on Tuesday, May 6th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Maplebear from $50.00 to $44.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. Thirteen equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $51.91.

Maplebear Stock Performance

Shares of NASDAQ:CART traded down $0.71 during midday trading on Friday, hitting $43.37. The company's stock had a trading volume of 3,407,036 shares, compared to its average volume of 4,023,535. The business's 50 day simple moving average is $43.76 and its 200 day simple moving average is $43.74. The company has a market cap of $11.39 billion, a P/E ratio of 29.11, a price-to-earnings-growth ratio of 1.19 and a beta of 1.30. 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 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). Maplebear had a return on equity of 13.78% and a net margin of 13.37%. The firm had revenue of $897.00 million for the quarter, compared to analysts' expectations of $896.86 million. During the same period last year, the firm earned $0.43 earnings per share. Maplebear's revenue for the quarter was up 9.4% on a year-over-year basis. On average, sell-side analysts predict that Maplebear Inc. will post 1.43 earnings per share for the current fiscal 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.