Vanguard Group Inc. Lowers Holdings in Maplebear Inc. $CART

Key Points

• Vanguard Group trimmed its stake by 0.3% to 19,044,096 shares, remaining a major holder with about 7.25% of Maplebear worth roughly $856.6 million.
• Wall Street sentiment is a Moderate Buy with an average target price of $51.29, though recent analyst notes show mixed revisions and differing price targets.
• Insiders have sold 144,863 shares in the last 90 days (≈$5.42M), insiders own 24% of the stock, and Maplebear trades around $42 with a market cap near $9.99 billion and a P/E of ~26.5.

Vanguard Group Inc. cut its position in Maplebear Inc. (NASDAQ:CART - Free Report) by 0.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,044,096 shares of the company's stock after selling 61,407 shares during the quarter. Vanguard Group Inc. owned about 7.25% of Maplebear worth $856,603,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently made changes to their positions in the company. State Street Corp boosted its holdings in shares of Maplebear by 1.3% in the 2nd quarter. State Street Corp now owns 5,101,870 shares of the company's stock worth $230,809,000 after purchasing an additional 66,588 shares in the last quarter. Viking Global Investors LP purchased a new position in Maplebear in the 2nd quarter worth $169,782,000. Bank of America Corp DE raised its position in Maplebear by 75.9% in the 3rd quarter. Bank of America Corp DE now owns 3,036,736 shares of the company's stock worth $111,630,000 after purchasing an additional 1,310,392 shares during the period. Holocene Advisors LP purchased a new position in Maplebear in the 3rd quarter worth $90,167,000. Finally, UBS Group AG raised its position in Maplebear by 28.2% in the 3rd quarter. UBS Group AG now owns 1,971,524 shares of the company's stock worth $72,473,000 after purchasing an additional 433,240 shares during the period. Hedge funds and other institutional investors own 63.09% of the company's stock.

Maplebear Stock Down 0.4%

Shares of Maplebear stock opened at $42.19 on Friday. The company has a market cap of $9.99 billion, a price-to-earnings ratio of 26.53, a price-to-earnings-growth ratio of 0.65 and a beta of 0.96. The company's 50 day moving average is $38.99 and its 200 day moving average is $39.86. Maplebear Inc. has a twelve month low of $32.73 and a twelve month high of $53.50.

Wall Street Analyst Weigh In

A number of research firms have issued reports on CART. Wall Street Zen cut shares of Maplebear from a "buy" rating to a "hold" rating in a research report on Saturday. Stifel Nicolaus cut their target price on shares of Maplebear from $49.00 to $46.00 and set a "buy" rating on the stock in a research note on Tuesday, January 27th. Needham & Company LLC lifted their target price on shares of Maplebear from $50.00 to $55.00 and gave the company a "buy" rating in a research note on Friday, February 13th. Wells Fargo & Company boosted their price objective on shares of Maplebear from $43.00 to $45.00 and gave the stock an "equal weight" rating in a research note on Monday, March 30th. Finally, Jefferies Financial Group raised shares of Maplebear from a "hold" rating to a "buy" rating and boosted their price objective for the stock from $38.00 to $45.00 in a research note on Monday, March 30th. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $51.29.

Insider Buying and Selling

In related news, General Counsel Morgan Fong sold 126,083 shares of the stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $37.09, for a total transaction of $4,676,418.47. Following the transaction, the general counsel owned 386,643 shares in the company, valued at $14,340,588.87. This represents a 24.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Lisa Blackwood-Kapral sold 9,390 shares of the company's stock in a transaction that occurred on Wednesday, April 15th. The shares were sold at an average price of $40.25, for a total transaction of $377,947.50. Following the sale, the chief accounting officer directly owned 58,971 shares of the company's stock, valued at approximately $2,373,582.75. This represents a 13.74% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 144,863 shares of company stock worth $5,418,135. 24.00% of the stock is owned by insiders.

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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