William Blair Investment Management LLC Sells 957,810 Shares of Maplebear Inc. $CART

Key Points

• William Blair Investment Management cut its Maplebear stake by 30.1% in the fourth quarter, selling 957,810 shares and ending with 2.22 million shares valued at about $99.9 million.
• Insider selling has also been notable, with CAO Lisa Blackwood-Kapral and General Counsel Morgan Fong both reducing their holdings; insiders sold a total of 144,863 shares over the last 90 days.
• Analyst sentiment remains constructive, with Barclays raising its price target to $69 and the stock carrying a consensus “Moderate Buy” rating and average target price of $51.09.

William Blair Investment Management LLC reduced its position in shares of Maplebear Inc. (NASDAQ:CART - Free Report) by 30.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,220,018 shares of the company's stock after selling 957,810 shares during the period. William Blair Investment Management LLC owned 0.85% of Maplebear worth $99,856,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the stock. State Street Corp raised its position in Maplebear by 1.3% in the second quarter. State Street Corp now owns 5,101,870 shares of the company's stock worth $230,809,000 after acquiring an additional 66,588 shares during the period. Viking Global Investors LP bought a new stake in Maplebear in the second quarter worth about $169,782,000. Bank of America Corp DE raised its position in Maplebear by 75.9% in the third quarter. Bank of America Corp DE now owns 3,036,736 shares of the company's stock worth $111,630,000 after acquiring an additional 1,310,392 shares during the period. Holocene Advisors LP bought a new stake in Maplebear in the third quarter worth about $90,167,000. Finally, UBS Group AG raised its position in Maplebear by 28.2% in the third quarter. UBS Group AG now owns 1,971,524 shares of the company's stock worth $72,473,000 after acquiring an additional 433,240 shares during the period. Institutional investors own 63.09% of the company's stock.

Insider Buying and Selling

In related news, 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 owned 58,971 shares of the company's stock, valued at approximately $2,373,582.75. This represents a 13.74% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Morgan Fong sold 126,083 shares of the business's stock in a transaction that occurred on Wednesday, March 11th. The stock was sold at an average price of $37.09, for a total transaction of $4,676,418.47. Following the completion of the transaction, the general counsel directly owned 386,643 shares of the company's stock, valued at approximately $14,340,588.87. This represents a 24.59% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 144,863 shares of company stock worth $5,418,135 in the last ninety days. 24.00% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several analysts have commented on the stock. Barclays lifted their price objective on shares of Maplebear from $65.00 to $69.00 and gave the stock an "overweight" rating in a research report on Thursday, May 7th. Argus raised shares of Maplebear to a "strong-buy" rating in a research report on Thursday, March 5th. Benchmark lowered their price objective on shares of Maplebear from $60.00 to $53.00 and set a "buy" rating on the stock in a research report on Tuesday, February 10th. Raymond James Financial raised shares of Maplebear from a "hold" rating to a "moderate buy" rating in a research report on Thursday, April 9th. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $55.00 price objective on shares of Maplebear in a research report on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $51.09.

Maplebear Stock Up 2.8%

NASDAQ CART opened at $41.22 on Friday. The company's 50 day moving average is $39.85 and its 200-day moving average is $40.03. Maplebear Inc. has a 12-month low of $32.73 and a 12-month high of $53.50. The firm has a market cap of $9.69 billion, a P/E ratio of 23.03, a price-to-earnings-growth ratio of 0.57 and a beta of 0.96.

Maplebear (NASDAQ:CART - Get Free Report) last posted its quarterly earnings results on Wednesday, May 6th. The company reported $0.57 earnings per share (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 the consensus estimate of $1.01 billion. During the same period last year, the firm earned $0.37 EPS. The business's revenue for the quarter was up 13.6% on a year-over-year basis. Equities analysts expect that Maplebear Inc. will post 2.43 EPS for the current year.

Maplebear 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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