Maplebear Inc. (NASDAQ:CART) Shares Sold by D. E. Shaw & Co. Inc.

D. E. Shaw & Co. Inc. lessened its stake in Maplebear Inc. (NASDAQ:CART) by 19.4% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,214,058 shares of the company’s stock after selling 292,858 shares during the quarter. D. E. Shaw & Co. Inc.’s holdings in Maplebear were worth $39,020,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. Federated Hermes Inc. raised its position in Maplebear by 102.2% during the second quarter. Federated Hermes Inc. now owns 1,734,264 shares of the company’s stock valued at $55,739,000 after acquiring an additional 876,439 shares in the last quarter. Industry Ventures L.L.C. increased its holdings in shares of Maplebear by 3.3% during the 2nd quarter. Industry Ventures L.L.C. now owns 980,458 shares of the company’s stock valued at $31,512,000 after purchasing an additional 31,175 shares in the last quarter. SG Americas Securities LLC purchased a new position in shares of Maplebear during the 1st quarter valued at approximately $31,109,000. Lord Abbett & CO. LLC acquired a new position in shares of Maplebear in the 1st quarter valued at $28,674,000. Finally, Marshall Wace LLP boosted its holdings in Maplebear by 34.1% during the second quarter. Marshall Wace LLP now owns 726,582 shares of the company’s stock worth $23,352,000 after buying an additional 184,569 shares in the last quarter. Hedge funds and other institutional investors own 63.09% of the company’s stock.

Maplebear Stock Performance

Shares of Maplebear stock opened at $39.90 on Friday. Maplebear Inc. has a 1-year low of $22.13 and a 1-year high of $42.58. The stock’s 50 day simple moving average is $35.22 and its 200-day simple moving average is $34.91.

Maplebear (NASDAQ:CART) last issued its earnings results on Tuesday, August 6th. The company reported $0.20 earnings per share (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 during the quarter, compared to analysts’ expectations of $806.35 million. Maplebear’s revenue was up 14.9% on a year-over-year basis. On average, equities analysts expect that Maplebear Inc. will post 1.12 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on CART shares. Needham & Company LLC reiterated a “hold” rating on shares of Maplebear in a research report on Wednesday, August 7th. Bank of America upped their price target on Maplebear from $41.00 to $45.00 and gave the stock a “neutral” rating in a report on Tuesday. Wedbush raised their price objective on Maplebear from $35.00 to $38.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. BMO Capital Markets upped their target price on Maplebear from $36.00 to $39.00 and gave the stock a “market perform” rating in a research note on Wednesday, August 7th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $45.00 price target on shares of Maplebear in a research note on Monday, September 23rd. Eleven equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $43.33.

Insider Activity at Maplebear

In other Maplebear news, CAO Alan Ramsay sold 2,486 shares of Maplebear stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $41.39, for a total transaction of $102,895.54. Following the transaction, the chief accounting officer now directly owns 99,225 shares of the company’s stock, valued at $4,106,922.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Maplebear news, CAO Alan Ramsay sold 2,486 shares of the firm’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $41.39, for a total transaction of $102,895.54. Following the completion of the sale, the chief accounting officer now owns 99,225 shares of the company’s stock, valued at $4,106,922.75. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, General Counsel Morgan Fong sold 9,506 shares of Maplebear stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $35.02, for a total value of $332,900.12. Following the completion of the sale, the general counsel now owns 372,335 shares in the company, valued at approximately $13,039,171.70. The disclosure for this sale can be found here. Over the last quarter, insiders sold 67,655 shares of company stock valued at $2,504,824. 36.00% of the stock is owned by company insiders.

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.