Tower Research Capital LLC TRC Has $115,000 Position in Maplebear Inc. (NASDAQ:CART)

Tower Research Capital LLC TRC lowered its position in Maplebear Inc. (NASDAQ:CART - Free Report) by 86.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,772 shares of the company's stock after selling 18,120 shares during the quarter. Tower Research Capital LLC TRC's holdings in Maplebear were worth $115,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its holdings in shares of Maplebear by 16.8% in the 4th quarter. Vanguard Group Inc. now owns 15,968,358 shares of the company's stock worth $661,409,000 after purchasing an additional 2,300,288 shares in the last quarter. Victory Capital Management Inc. increased its holdings in Maplebear by 11,501.2% in the fourth quarter. Victory Capital Management Inc. now owns 4,526,673 shares of the company's stock worth $187,495,000 after buying an additional 4,487,654 shares during the last quarter. Boston Partners bought a new position in shares of Maplebear during the 4th quarter valued at $111,506,000. Federated Hermes Inc. lifted its position in shares of Maplebear by 22.9% in the fourth quarter. Federated Hermes Inc. now owns 2,462,264 shares of the company's stock worth $102,035,000 after buying an additional 458,243 shares during the last quarter. Finally, Norges Bank bought a new stake in Maplebear during the fourth quarter worth approximately $95,162,000. Institutional investors own 63.09% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on CART. Oppenheimer decreased their target price on Maplebear from $65.00 to $60.00 and set an "outperform" rating for the company in a research note on Wednesday, February 26th. Seaport Res Ptn raised Maplebear to a "strong-buy" rating in a research note on Wednesday, February 12th. Wedbush dropped their price objective on shares of Maplebear from $48.00 to $46.00 and set a "neutral" rating for the company in a report on Wednesday, February 26th. Cantor Fitzgerald restated an "overweight" rating and issued a $55.00 target price on shares of Maplebear in a research note on Wednesday, February 26th. Finally, Benchmark reaffirmed a "hold" rating on shares of Maplebear in a report on Wednesday, February 26th. Twelve research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $51.04.

Maplebear Stock Up 1.5%

Shares of NASDAQ:CART traded up $0.64 during mid-day trading on Tuesday, reaching $44.25. 2,125,414 shares of the stock were exchanged, compared to its average volume of 4,101,895. Maplebear Inc. has a one year low of $29.84 and a one year high of $53.44. The stock's 50 day simple moving average is $40.66 and its 200-day simple moving average is $43.52. The company has a market cap of $11.62 billion, a P/E ratio of 29.70, 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). The business had revenue of $897.00 million for the quarter, compared to analyst estimates of $896.86 million. Maplebear had a return on equity of 13.78% and a net margin of 13.37%. The company's quarterly revenue was up 9.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.43 earnings per share. Analysts anticipate that Maplebear Inc. will post 1.43 EPS for the current fiscal year.

Insider Buying and Selling

In other news, General Counsel Morgan Fong sold 5,249 shares of the business's stock in a transaction dated Monday, April 21st. The shares were 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. The trade was a 1.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Fidji Simo sold 2,033 shares of the firm's stock in a transaction that occurred on Monday, March 17th. The stock was 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 in the company, valued at $66,182,360. This represents a 0.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 36,165 shares of company stock worth $1,541,785. 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.