Maplebear Inc. (NASDAQ:CART) Position Lessened by Ieq Capital LLC

Ieq Capital LLC lowered its position in Maplebear Inc. (NASDAQ:CART) by 6.3% during the second quarter, HoldingsChannel.com reports. The firm owned 107,257 shares of the company’s stock after selling 7,253 shares during the quarter. Ieq Capital LLC’s holdings in Maplebear were worth $3,447,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of Maplebear during the 4th quarter valued at about $78,674,000. Vanguard Group Inc. grew its position in Maplebear by 239.1% in the first quarter. Vanguard Group Inc. now owns 213,496 shares of the company’s stock worth $7,961,000 after acquiring an additional 150,544 shares in the last quarter. Assenagon Asset Management S.A. acquired a new position in shares of Maplebear during the 2nd quarter worth $8,293,000. Investment House LLC bought a new position in shares of Maplebear during the 2nd quarter valued at $750,000. Finally, GSA Capital Partners LLP acquired a new stake in shares of Maplebear in the 1st quarter valued at $1,673,000. 63.09% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on CART. Cantor Fitzgerald initiated coverage on Maplebear in a report on Thursday, September 5th. They set an “overweight” rating and a $45.00 target price on the stock. Macquarie increased their price objective on Maplebear from $44.00 to $45.00 and gave the company an “outperform” rating in a report on Thursday, August 8th. Citigroup upped their target price on Maplebear from $44.00 to $47.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. BMO Capital Markets lifted 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. Finally, Morgan Stanley upped their price objective on shares of Maplebear from $43.00 to $45.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 23rd. Eleven analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $42.81.

Insider Buying and Selling at Maplebear

In other news, CEO Fidji Simo sold 33,000 shares of the stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $65,065,320.06. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, CEO Fidji Simo sold 33,000 shares of the stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $35.27, for a total transaction of $1,163,910.00. Following the completion of the sale, the chief executive officer now owns 1,844,778 shares in the company, valued at approximately $65,065,320.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Morgan Fong sold 9,506 shares of Maplebear stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $35.02, for a total transaction of $332,900.12. Following the transaction, the general counsel now directly owns 372,335 shares of the company’s stock, valued at $13,039,171.70. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 73,669 shares of company stock valued at $2,682,769. 36.00% of the stock is currently owned by corporate insiders.

Maplebear Stock Up 0.7 %

Shares of CART stock opened at $42.14 on Friday. Maplebear Inc. has a one year low of $22.13 and a one year high of $42.58. The stock has a fifty day moving average price of $34.75 and a 200 day moving average price of $34.71.

Maplebear (NASDAQ:CART) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.13 by $0.07. The company had revenue of $823.00 million during the quarter, compared to the consensus estimate of $806.35 million. Maplebear had a negative net margin of 52.21% and a negative return on equity of 49.98%. Maplebear’s revenue was up 14.9% compared to the same quarter last year. On average, research analysts forecast that Maplebear Inc. will post 1.12 EPS for the current fiscal year.

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.