National Bank of Canada FI Sells 8,000 Shares of Maplebear Inc. (NASDAQ:CART)

National Bank of Canada FI cut its stake in shares of Maplebear Inc. (NASDAQ:CART) by 87.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,181 shares of the company’s stock after selling 8,000 shares during the quarter. National Bank of Canada FI’s holdings in Maplebear were worth $38,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Parallel Advisors LLC grew its position in Maplebear by 139.3% in the fourth 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. nVerses Capital LLC lifted its stake in Maplebear by 1,600.0% during 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 during the last quarter. Cantor Fitzgerald L. P. boosted its holdings in shares of Maplebear by 389.5% in the 4th 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 in the last quarter. Kapitalo Investimentos Ltda bought a new position in shares of Maplebear during the 4th quarter valued at about $69,000. Finally, Amalgamated Bank purchased a new position in shares of Maplebear during the 4th quarter valued at about $94,000. Hedge funds and other institutional investors own 63.09% of the company’s stock.

Insider Activity at Maplebear

In other Maplebear news, General Counsel Morgan Fong sold 9,228 shares of the business’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 sale, the general counsel now directly owns 381,841 shares of the company’s stock, valued at $12,929,136.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, General Counsel Morgan Fong sold 9,228 shares of the stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $33.86, for a total transaction of $312,460.08. Following the sale, the general counsel now owns 381,841 shares in the company, valued at $12,929,136.26. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Fidji Simo sold 8,500 shares of the business’s stock in a transaction that occurred on Wednesday, June 26th. The stock was sold at an average price of $33.04, for a total transaction of $280,840.00. Following the completion of the transaction, the chief executive officer now owns 1,984,167 shares of the company’s stock, valued at $65,556,877.68. The disclosure for this sale can be found here. Insiders sold a total of 66,110 shares of company stock valued at $2,292,923 in the last 90 days. Corporate insiders own 36.00% of the company’s stock.

Maplebear Stock Performance

Shares of CART stock opened at $36.99 on Monday. The company’s fifty day moving average price is $34.17 and its 200-day moving average price is $34.48. Maplebear Inc. has a 12 month low of $22.13 and a 12 month high of $42.95.

Maplebear (NASDAQ:CART) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $0.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.13 by $0.07. Maplebear had a negative net margin of 52.21% and a negative return on equity of 49.98%. The business had revenue of $823.00 million for the quarter, compared to analysts’ expectations of $806.35 million. The company’s revenue for the quarter was up 14.9% on a year-over-year basis. As a group, research analysts expect that Maplebear Inc. will post 1.12 earnings per share for the current year.

Analyst Ratings Changes

CART has been the topic of a number of recent research reports. BMO Capital Markets increased their price target on shares of Maplebear from $36.00 to $39.00 and gave the company a “market perform” rating in a research report on Wednesday, August 7th. KeyCorp started coverage on shares of Maplebear in a research report on Thursday, July 11th. They issued a “sector weight” rating on the stock. Citigroup upped their price target on shares of Maplebear from $44.00 to $47.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. Wolfe Research assumed coverage on Maplebear in a report on Tuesday, July 16th. They issued a “peer perform” rating on the stock. Finally, Benchmark restated a “hold” rating on shares of Maplebear in a report on Wednesday, August 7th. Eleven analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $42.81.

Maplebear Company 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.