Bokf Na Trims Stake in Maplebear Inc. (NASDAQ:CART)

Bokf Na cut its stake in Maplebear Inc. (NASDAQ:CART) by 16.5% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 49,085 shares of the company’s stock after selling 9,714 shares during the period. Bokf Na’s holdings in Maplebear were worth $1,578,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Parallel Advisors LLC raised its position in shares of Maplebear by 139.3% in the 4th quarter. Parallel Advisors LLC now owns 1,065 shares of the company’s stock worth $25,000 after acquiring an additional 620 shares in the last quarter. Cantor Fitzgerald L. P. grew its stake in Maplebear by 389.5% in the fourth quarter. Cantor Fitzgerald L. P. now owns 1,850 shares of the company’s stock worth $43,000 after purchasing an additional 2,489 shares during the period. nVerses Capital LLC raised its holdings in Maplebear by 1,600.0% in the second quarter. nVerses Capital LLC now owns 1,700 shares of the company’s stock worth $55,000 after purchasing an additional 1,600 shares in the last quarter. Kapitalo Investimentos Ltda purchased a new position in Maplebear during the fourth quarter valued at $69,000. Finally, Amalgamated Bank bought a new stake in shares of Maplebear during the 4th quarter valued at $94,000. 63.09% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, General Counsel Morgan Fong sold 9,228 shares of the firm’s stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $33.86, for a total value of $312,460.08. Following the transaction, the general counsel now owns 381,841 shares of the company’s stock, valued at $12,929,136.26. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, General Counsel Morgan Fong sold 9,228 shares of the firm’s stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $33.86, for a total value of $312,460.08. Following the transaction, the general counsel now directly owns 381,841 shares of the company’s stock, valued at approximately $12,929,136.26. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO Alan Ramsay sold 2,550 shares of the business’s stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $33.86, for a total value of $86,343.00. Following the sale, the chief accounting officer now directly owns 110,536 shares of the company’s stock, valued at approximately $3,742,748.96. The disclosure for this sale can be found here. Insiders sold 66,110 shares of company stock valued at $2,292,923 in the last quarter. 36.00% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several brokerages recently issued reports on CART. Needham & Company LLC reiterated a “hold” rating on shares of Maplebear in a research note on Wednesday, August 7th. KeyCorp assumed coverage on shares of Maplebear in a research note on Thursday, July 11th. They set a “sector weight” rating for the company. Macquarie boosted their price target on Maplebear from $44.00 to $45.00 and gave the stock an “outperform” rating in a research report on Thursday, August 8th. Gordon Haskett raised Maplebear from a “hold” rating to a “buy” rating and raised their price objective for the company from $37.00 to $45.00 in a research report on Wednesday, June 5th. Finally, Wedbush boosted their target price on Maplebear from $35.00 to $38.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. Eleven investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, Maplebear has a consensus rating of “Moderate Buy” and a consensus target price of $42.81.

Maplebear Stock Up 1.8 %

NASDAQ:CART opened at $36.99 on Friday. The company has a 50 day simple moving average of $34.17 and a two-hundred day simple moving average of $34.46. Maplebear Inc. has a 12 month low of $22.13 and a 12 month high of $42.95.

Maplebear (NASDAQ:CART) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.20 EPS for the quarter, topping 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 during the quarter, compared to analyst estimates of $806.35 million. The business’s revenue was up 14.9% compared to the same quarter last year. As a group, equities analysts forecast that Maplebear Inc. will post 1.12 earnings per share for the current year.

Maplebear Profile

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.