Maplebear Inc. (NASDAQ:CART) Holdings Decreased by Tabor Asset Management LP

Tabor Asset Management LP lessened its holdings in shares of Maplebear Inc. (NASDAQ:CART - Free Report) by 60.8% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 67,726 shares of the company's stock after selling 104,910 shares during the quarter. Maplebear accounts for 1.3% of Tabor Asset Management LP's portfolio, making the stock its 27th largest position. Tabor Asset Management LP's holdings in Maplebear were worth $2,805,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Jones Financial Companies Lllp grew its stake in Maplebear by 46.6% during the 4th quarter. Jones Financial Companies Lllp now owns 698 shares of the company's stock valued at $29,000 after purchasing an additional 222 shares in the last quarter. Allworth Financial LP grew its position in shares of Maplebear by 101.4% in the 4th quarter. Allworth Financial LP now owns 834 shares of the company's stock worth $37,000 after acquiring an additional 420 shares in the last quarter. NewEdge Advisors LLC grew its position in shares of Maplebear by 277.9% in the 4th quarter. NewEdge Advisors LLC now owns 975 shares of the company's stock worth $40,000 after acquiring an additional 717 shares in the last quarter. Anderson Financial Strategies LLC acquired a new position in shares of Maplebear in the 4th quarter worth approximately $46,000. Finally, Cullen Frost Bankers Inc. acquired a new position in shares of Maplebear in the 4th quarter worth approximately $62,000. Institutional investors and hedge funds own 63.09% of the company's stock.

Maplebear Price Performance

Shares of CART traded down $0.04 during midday trading on Friday, reaching $46.99. The stock had a trading volume of 3,973,745 shares, compared to its average volume of 4,048,927. Maplebear Inc. has a 52 week low of $29.84 and a 52 week high of $53.44. The firm's 50 day moving average price is $41.93 and its 200-day moving average price is $43.61. The company has a market capitalization of $12.34 billion, a P/E ratio of 31.54, a P/E/G ratio of 1.19 and a beta of 1.19.

Maplebear (NASDAQ:CART - Get Free Report) last posted its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $896.86 million. During the same period in the prior year, the firm posted $0.43 EPS. The firm's quarterly revenue was up 9.4% on a year-over-year basis. On average, equities analysts forecast that Maplebear Inc. will post 1.43 earnings per share for the current year.

Wall Street Analysts Forecast Growth

CART has been the subject of several research reports. Barclays lifted their target price on Maplebear from $58.00 to $61.00 and gave the stock an "overweight" rating in a research report on Friday, May 2nd. Morgan Stanley lifted their target price on Maplebear from $44.00 to $45.00 and gave the stock an "equal weight" rating in a research report on Wednesday, February 26th. Citigroup raised their price target on Maplebear from $55.00 to $57.00 and gave the stock a "buy" rating in a report on Tuesday, May 13th. Wedbush cut their price target on Maplebear from $48.00 to $46.00 and set a "neutral" rating on the stock in a report on Wednesday, February 26th. Finally, Macquarie reissued an "outperform" rating and issued a $55.00 price target on shares of Maplebear in a report on Tuesday, May 6th. Twelve investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $51.30.

Insider Buying and Selling

In related news, General Counsel Morgan Fong sold 5,249 shares of Maplebear stock in a transaction on Monday, April 21st. The stock was sold at an average price of $42.57, for a total value of $223,449.93. Following the transaction, the general counsel now directly owns 484,292 shares in the company, valued at $20,616,310.44. The trade was a 1.07% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Fidji Simo sold 2,033 shares of Maplebear stock in a transaction on Monday, March 17th. The stock was sold at an average price of $40.00, for a total value of $81,320.00. Following the completion of the transaction, the chief executive officer now owns 1,654,559 shares in the company, valued at $66,182,360. The trade was a 0.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 36,165 shares of company stock worth $1,541,785 in the last three months. 26.00% of the stock is currently owned by insiders.

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.