Maplebear Inc. (NASDAQ:CART) Shares Sold by KPCB DGF II Associates LLC

KPCB DGF II Associates LLC decreased its stake in shares of Maplebear Inc. (NASDAQ:CART - Free Report) by 50.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,340,313 shares of the company's stock after selling 1,343,301 shares during the period. Maplebear accounts for approximately 94.6% of KPCB DGF II Associates LLC's holdings, making the stock its biggest holding. KPCB DGF II Associates LLC owned about 0.52% of Maplebear worth $55,516,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Jones Financial Companies Lllp lifted its position 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 during the period. Wilmington Savings Fund Society FSB acquired a new position in Maplebear during the 3rd quarter valued at about $33,000. Allworth Financial LP lifted its position in Maplebear by 101.4% during the 4th quarter. Allworth Financial LP now owns 834 shares of the company's stock valued at $37,000 after purchasing an additional 420 shares during the period. NewEdge Advisors LLC lifted its position in Maplebear by 277.9% during the 4th quarter. NewEdge Advisors LLC now owns 975 shares of the company's stock valued at $40,000 after purchasing an additional 717 shares during the period. Finally, Anderson Financial Strategies LLC acquired a new position in Maplebear during the 4th quarter valued at about $46,000. Institutional investors and hedge funds own 63.09% of the company's stock.

Insider Transactions at Maplebear

In other news, General Counsel Morgan Fong sold 5,249 shares of the stock in a transaction that occurred 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 completion of the sale, the general counsel now owns 484,292 shares of the company's stock, valued at approximately $20,616,310.44. This represents a 1.07% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Fidji Simo sold 20,750 shares of the stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $43.31, for a total value of $898,682.50. Following the completion of the sale, the chief executive officer now directly owns 1,662,692 shares of the company's stock, valued at approximately $72,011,190.52. The trade was a 1.23% decrease in their position. The disclosure for this sale can be found here. Insiders sold 36,165 shares of company stock valued at $1,541,785 in the last ninety days. 26.00% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

CART has been the topic of a number of research reports. Stifel Nicolaus cut their target price on shares of Maplebear from $57.00 to $54.00 and set a "buy" rating on the stock in a research report on Wednesday, April 23rd. Macquarie reaffirmed an "outperform" rating and issued a $55.00 price target on shares of Maplebear in a research note on Tuesday, May 6th. Loop Capital lowered their price target on Maplebear from $56.00 to $52.00 and set a "buy" rating for the company in a research note on Thursday, March 6th. Needham & Company LLC reaffirmed a "buy" rating and issued a $56.00 price target on shares of Maplebear in a research note on Friday, May 2nd. Finally, Bank of America upped their price target on Maplebear from $51.00 to $53.00 and gave the company a "neutral" rating in a research note on Tuesday, February 25th. Twelve equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Maplebear presently has an average rating of "Moderate Buy" and an average price target of $51.04.

Maplebear Price Performance

Shares of CART traded up $0.90 during mid-day trading on Wednesday, hitting $45.21. 4,438,021 shares of the company's stock were exchanged, compared to its average volume of 4,102,643. The company has a market cap of $11.87 billion, a PE ratio of 30.34, a P/E/G ratio of 1.19 and a beta of 1.19. Maplebear Inc. has a 52 week low of $29.84 and a 52 week high of $53.44. The company has a 50-day simple moving average of $40.90 and a 200 day simple moving average of $43.54.

Maplebear (NASDAQ:CART - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The company reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.38 by ($0.01). The business had revenue of $897.00 million for the quarter, compared to the consensus estimate of $896.86 million. Maplebear had a return on equity of 13.78% and a net margin of 13.37%. Maplebear's revenue was up 9.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.43 earnings per share. On average, analysts anticipate that Maplebear Inc. will post 1.43 earnings per share for the current year.

About Maplebear

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.