Maplebear Inc. $CART Shares Sold by Sapient Capital LLC

Key Points

• Sapient Capital LLC reduced its stake in Maplebear Inc. by 11.3%, selling 7,526 shares to hold 58,880 shares valued at approximately $2.66 million.
• Insider transactions saw significant sales, with General Counsel Morgan Fong selling 4,680 shares for $230,068.80, indicating a 1.02% decrease in their ownership.
• Maplebear has a market capitalization of $12.05 billion and reported a quarterly earnings per share of $0.41, exceeding analyst estimates.

Sapient Capital LLC reduced its holdings in Maplebear Inc. (NASDAQ:CART - Free Report) by 11.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 58,880 shares of the company's stock after selling 7,526 shares during the period. Sapient Capital LLC's holdings in Maplebear were worth $2,664,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. Cetera Investment Advisers boosted its holdings in Maplebear by 61.4% during the fourth quarter. Cetera Investment Advisers now owns 8,144 shares of the company's stock worth $337,000 after buying an additional 3,097 shares in the last quarter. Lazard Asset Management LLC purchased a new stake in Maplebear during the fourth quarter worth $263,000. Rafferty Asset Management LLC purchased a new stake in Maplebear during the fourth quarter worth $413,000. State of Wyoming boosted its holdings in Maplebear by 6.6% during the fourth quarter. State of Wyoming now owns 8,628 shares of the company's stock worth $357,000 after buying an additional 534 shares in the last quarter. Finally, Two Sigma Investments LP boosted its holdings in Maplebear by 5.1% during the fourth quarter. Two Sigma Investments LP now owns 878,648 shares of the company's stock worth $36,394,000 after buying an additional 42,441 shares in the last quarter. 63.09% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Robert W. Baird decreased their price objective on shares of Maplebear from $65.00 to $60.00 and set an "outperform" rating on the stock in a report on Friday, August 22nd. Sanford C. Bernstein increased their target price on shares of Maplebear from $55.00 to $60.00 and gave the stock an "outperform" rating in a research note on Monday, July 21st. Barclays increased their target price on shares of Maplebear from $61.00 to $65.00 and gave the stock an "overweight" rating in a research note on Friday, August 8th. Wedbush reissued an "underperform" rating and issued a $42.00 price objective (down previously from $55.00) on shares of Maplebear in a research note on Thursday, August 21st. Finally, Bank of America raised their price objective on shares of Maplebear from $53.00 to $58.00 and gave the company a "neutral" rating in a research note on Friday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $55.58.

Insider Activity at Maplebear

In other news, insider Grosvenor L.P. Gcm sold 4,864,272 shares of the company's stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $47.75, for a total transaction of $232,268,988.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Morgan Fong sold 4,680 shares of the company's stock in a transaction dated Monday, July 21st. The shares were sold at an average price of $49.16, for a total transaction of $230,068.80. Following the transaction, the general counsel directly owned 452,000 shares of the company's stock, valued at approximately $22,220,320. This represents a 1.02% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 4,973,562 shares of company stock worth $237,668,642. 26.00% of the stock is owned by insiders.

Maplebear Stock Performance

CART stock traded down $3.90 during trading on Friday, hitting $41.50. The stock had a trading volume of 17,155,400 shares, compared to its average volume of 3,910,375. The company's 50 day moving average price is $46.46 and its two-hundred day moving average price is $44.21. Maplebear Inc. has a 1-year low of $35.14 and a 1-year high of $53.50. The stock has a market cap of $10.93 billion, a price-to-earnings ratio of 23.99, a price-to-earnings-growth ratio of 1.39 and a beta of 1.21.

Maplebear (NASDAQ:CART - Get Free Report) last announced its earnings results on Thursday, August 7th. The company reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.02. Maplebear had a net margin of 13.76% and a return on equity of 15.69%. The firm had revenue of $914.00 million during the quarter, compared to the consensus estimate of $896.55 million. During the same quarter in the previous year, the company posted $0.20 EPS. The firm's revenue for the quarter was up 11.1% on a year-over-year basis. As a group, sell-side analysts forecast that Maplebear Inc. will post 1.43 earnings per share for the current fiscal 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.