Schonfeld Strategic Advisors LLC Reduces Holdings in Maplebear Inc. (NASDAQ:CART)

Schonfeld Strategic Advisors LLC reduced its position in Maplebear Inc. (NASDAQ:CART - Free Report) by 94.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 33,833 shares of the company's stock after selling 597,496 shares during the period. Schonfeld Strategic Advisors LLC's holdings in Maplebear were worth $1,401,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Jones Financial Companies Lllp grew its holdings in shares of Maplebear by 46.6% during the fourth quarter. Jones Financial Companies Lllp now owns 698 shares of the company's stock valued at $29,000 after buying an additional 222 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new position in Maplebear in the 3rd quarter valued at about $33,000. Allworth Financial LP boosted its stake 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 last quarter. NewEdge Advisors LLC increased its holdings in Maplebear by 277.9% during the 4th quarter. NewEdge Advisors LLC now owns 975 shares of the company's stock worth $40,000 after purchasing an additional 717 shares in the last quarter. Finally, Cullen Frost Bankers Inc. purchased a new stake in shares of Maplebear in the fourth quarter worth approximately $62,000. Institutional investors own 63.09% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on CART. Bank of America upped their price target on Maplebear from $51.00 to $53.00 and gave the stock a "neutral" rating in a report on Tuesday, February 25th. Seaport Res Ptn upgraded shares of Maplebear to a "strong-buy" rating in a research note on Wednesday, February 12th. Cantor Fitzgerald reissued an "overweight" rating and set a $55.00 price target on shares of Maplebear in a research report on Wednesday, February 26th. JPMorgan Chase & Co. reduced their price objective on shares of Maplebear from $50.00 to $44.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. Finally, Oppenheimer dropped their target price on shares of Maplebear from $65.00 to $60.00 and set an "outperform" rating on the stock in a research report on Wednesday, February 26th. Twelve investment 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 company. According to MarketBeat.com, Maplebear has a consensus rating of "Moderate Buy" and a consensus target price of $50.61.

Maplebear Price Performance

Shares of CART traded up $0.22 during midday trading on Monday, hitting $43.99. 1,111,944 shares of the company traded hands, compared to its average volume of 4,088,812. Maplebear Inc. has a one year low of $29.84 and a one year high of $53.44. The firm has a market cap of $11.55 billion, a P/E ratio of 29.47, a PEG ratio of 1.19 and a beta of 1.19. The stock has a 50-day moving average of $40.56 and a 200-day moving average of $43.53.

Maplebear (NASDAQ:CART - Get Free Report) last posted its earnings results on Thursday, May 1st. The company reported $0.37 earnings per share 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 for the quarter, compared to the consensus estimate of $896.86 million. During the same period last year, the company posted $0.43 EPS. The business's revenue was up 9.4% on a year-over-year basis. Sell-side analysts forecast that Maplebear Inc. will post 1.43 EPS for the current fiscal year.

Insider Buying and Selling

In other Maplebear news, CEO Fidji Simo sold 2,033 shares of Maplebear stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $40.00, for a total transaction of $81,320.00. Following the transaction, the chief executive officer now directly owns 1,654,559 shares of the company's stock, valued at approximately $66,182,360. This trade represents a 0.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, 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 transaction of $223,449.93. Following the completion of the transaction, the general counsel now owns 484,292 shares in the company, valued at approximately $20,616,310.44. The trade was a 1.07% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 36,165 shares of company stock worth $1,541,785. Corporate insiders own 26.00% of the company's stock.

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.