SG Americas Securities LLC Trims Stock Position in Maplebear Inc. $CART

Key Points

• SG Americas Securities cut its Maplebear position by 29.3% in the first quarter, leaving it with 193,158 shares worth about $7.24 million.
• Insider selling included CAO Lisa Blackwood-Kapral and Director Ravi Gupta, who both reduced their holdings through recent stock sales.
• Wall Street sentiment remains mostly positive, with the stock carrying a Moderate Buy rating and an average target price of $51.09, while shares recently traded around $47.50 after a 1.5% gain.

SG Americas Securities LLC trimmed its position in Maplebear Inc. (NASDAQ:CART - Free Report) by 29.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 193,158 shares of the company's stock after selling 80,221 shares during the quarter. SG Americas Securities LLC owned about 0.08% of Maplebear worth $7,236,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Kingdon Capital Management L.L.C. lifted its holdings in Maplebear by 40.6% in the third quarter. Kingdon Capital Management L.L.C. now owns 450,000 shares of the company's stock valued at $16,542,000 after acquiring an additional 130,000 shares during the last quarter. US Bancorp DE increased its stake in Maplebear by 17.0% during the fourth quarter. US Bancorp DE now owns 437,658 shares of the company's stock worth $19,686,000 after acquiring an additional 63,666 shares during the last quarter. Ruffer LLP acquired a new stake in Maplebear during the fourth quarter worth $2,567,000. Liontrust Investment Partners LLP purchased a new stake in Maplebear in the third quarter valued at $8,703,000. Finally, CWM LLC raised its position in Maplebear by 1,741.4% in the fourth quarter. CWM LLC now owns 30,088 shares of the company's stock valued at $1,353,000 after purchasing an additional 28,454 shares during the period. Hedge funds and other institutional investors own 63.09% of the company's stock.

Insiders Place Their Bets

In other Maplebear news, CAO Lisa Blackwood-Kapral sold 9,390 shares of the company's stock in a transaction dated Wednesday, April 15th. The stock was sold at an average price of $40.25, for a total transaction of $377,947.50. Following the sale, the chief accounting officer owned 58,971 shares in the company, valued at $2,373,582.75. This represents a 13.74% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ravi Gupta sold 181,000 shares of the company's stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $41.51, for a total value of $7,513,310.00. Following the sale, the director owned 741,523 shares in the company, valued at approximately $30,780,619.73. This trade represents a 19.62% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 24.00% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Argus upgraded Maplebear to a "strong-buy" rating in a report on Thursday, March 5th. Barclays boosted their price objective on shares of Maplebear from $65.00 to $69.00 and gave the company an "overweight" rating in a report on Thursday, May 7th. Wall Street Zen cut shares of Maplebear from a "buy" rating to a "hold" rating in a research report on Saturday, May 2nd. Wells Fargo & Company increased their target price on shares of Maplebear from $45.00 to $47.00 and gave the stock an "equal weight" rating in a research note on Thursday, May 7th. Finally, Weiss Ratings upgraded shares of Maplebear from a "hold (c-)" rating to a "hold (c)" rating in a report on Monday, May 11th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Maplebear has an average rating of "Moderate Buy" and an average target price of $51.09.

Maplebear Stock Up 1.5%

Shares of CART opened at $47.50 on Friday. The company has a market cap of $11.16 billion, a P/E ratio of 26.54, a PEG ratio of 0.65 and a beta of 0.88. Maplebear Inc. has a fifty-two week low of $32.73 and a fifty-two week high of $53.50. The firm's 50 day moving average price is $41.98 and its 200 day moving average price is $40.45.

Maplebear (NASDAQ:CART - Get Free Report) last issued its quarterly earnings results on Wednesday, May 6th. The company reported $0.57 EPS for the quarter, missing the consensus estimate of $0.58 by ($0.01). Maplebear had a net margin of 12.50% and a return on equity of 18.67%. The business had revenue of $1.02 billion during the quarter, compared to analysts' expectations of $1.01 billion. During the same period in the prior year, the business earned $0.37 EPS. The business's quarterly revenue was up 13.6% on a year-over-year basis. Research analysts forecast that Maplebear Inc. will post 2.45 earnings per share for the current year.

Maplebear Company Profile

Maplebear, Inc, doing business as Instacart, operates a leading online grocery and essentials marketplace that connects consumers, retail partners and personal shoppers through its digital platform. The company enables customers to order groceries, household items and specialty products for same-day or scheduled delivery, as well as in-store pickup. By integrating its technology with retailers' existing inventory and point-of-sale systems, Maplebear streamlines the shopping experience and provides real-time availability and pricing.

Founded in 2012 and headquartered in San Francisco, Maplebear has grown from a regional startup to a publicly traded company listed on NASDAQ under the ticker CART.

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