Sivia Capital Partners LLC Cuts Stake in Maplebear Inc. (NASDAQ:CART)

Sivia Capital Partners LLC reduced its position in Maplebear Inc. (NASDAQ:CART) by 28.2% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 7,094 shares of the company’s stock after selling 2,789 shares during the period. Sivia Capital Partners LLC’s holdings in Maplebear were worth $228,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CART. Norges Bank bought a new stake in shares of Maplebear during the fourth quarter valued at about $78,674,000. Vanguard Group Inc. increased its position in shares of Maplebear by 239.1% during the first quarter. Vanguard Group Inc. now owns 213,496 shares of the company’s stock valued at $7,961,000 after buying an additional 150,544 shares during the period. Assenagon Asset Management S.A. bought a new stake in shares of Maplebear during the second quarter valued at about $8,293,000. Investment House LLC bought a new stake in shares of Maplebear during the second quarter valued at about $750,000. Finally, GSA Capital Partners LLP bought a new stake in shares of Maplebear during the first quarter valued at about $1,673,000. 63.09% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Citigroup boosted their price objective on Maplebear from $44.00 to $47.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. KeyCorp started coverage on Maplebear in a report on Thursday, July 11th. They set a “sector weight” rating for the company. Benchmark reaffirmed a “hold” rating on shares of Maplebear in a research note on Wednesday, August 7th. Macquarie upped their target price on Maplebear from $44.00 to $45.00 and gave the stock an “outperform” rating in a research note on Thursday, August 8th. Finally, Wolfe Research started coverage on Maplebear in a research note on Tuesday, July 16th. They issued a “peer perform” rating for the company. Eleven research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $42.81.

Maplebear Stock Performance

Shares of NASDAQ:CART opened at $34.01 on Friday. Maplebear Inc. has a 1-year low of $22.13 and a 1-year high of $42.95. The business has a fifty day moving average price of $33.95 and a 200-day moving average price of $34.27.

Maplebear (NASDAQ:CART) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.20 EPS for the quarter, beating the consensus estimate of $0.13 by $0.07. Maplebear had a negative return on equity of 49.98% and a negative net margin of 52.21%. The company had revenue of $823.00 million for the quarter, compared to analysts’ expectations of $806.35 million. The firm’s revenue for the quarter was up 14.9% compared to the same quarter last year. As a group, equities analysts anticipate that Maplebear Inc. will post 1.14 EPS for the current fiscal year.

Insider Activity at Maplebear

In related news, CEO Fidji Simo sold 33,000 shares of the stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $35.27, for a total transaction of $1,163,910.00. Following the sale, the chief executive officer now directly owns 1,844,778 shares of the company’s stock, valued at $65,065,320.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Maplebear news, CAO Alan Ramsay sold 2,550 shares of the firm’s stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $33.86, for a total value of $86,343.00. Following the transaction, the chief accounting officer now directly owns 110,536 shares of the company’s stock, valued at $3,742,748.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Fidji Simo sold 33,000 shares of the firm’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $35.27, for a total value of $1,163,910.00. Following the completion of the transaction, the chief executive officer now directly owns 1,844,778 shares in the company, valued at $65,065,320.06. The disclosure for this sale can be found here. Insiders have sold 68,610 shares of company stock valued at $2,377,448 over the last ninety days. Insiders own 36.00% of the company’s stock.

About Maplebear

Maplebear Inc, doing business as Instacart, provides online grocery shopping services to households in North America. It sells and delivers grocery products. The company offers its services through a mobile application and website. It also provides software-as-a-service solutions to retailers. The company was incorporated in 2012 and is based in San Francisco, California.