FNY Investment Advisers LLC Trims Stock Holdings in Maplebear Inc. (NASDAQ:CART)

FNY Investment Advisers LLC reduced its holdings in shares of Maplebear Inc. (NASDAQ:CARTFree Report) by 20.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 972 shares of the company’s stock after selling 250 shares during the quarter. FNY Investment Advisers LLC’s holdings in Maplebear were worth $40,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Maplebear during the fourth quarter worth $1,166,000. Watts Gwilliam & Co. LLC lifted its holdings in Maplebear by 39.0% during the 4th quarter. Watts Gwilliam & Co. LLC now owns 7,300 shares of the company’s stock worth $313,000 after purchasing an additional 2,047 shares in the last quarter. Nordea Investment Management AB bought a new position in Maplebear in the 4th quarter worth about $2,078,000. Lord Abbett & CO. LLC grew its holdings in Maplebear by 370.9% during the 3rd quarter. Lord Abbett & CO. LLC now owns 859,006 shares of the company’s stock valued at $34,996,000 after buying an additional 676,605 shares in the last quarter. Finally, Franklin Resources Inc. increased its position in shares of Maplebear by 182.0% during the third quarter. Franklin Resources Inc. now owns 272,928 shares of the company’s stock valued at $11,692,000 after buying an additional 176,137 shares during the period. 63.09% of the stock is owned by institutional investors.

Insider Buying and Selling at Maplebear

In related news, General Counsel Morgan Fong sold 11,325 shares of the company’s stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $42.97, for a total transaction of $486,635.25. Following the completion of the transaction, the general counsel now owns 287,659 shares in the company, valued at $12,360,707.23. This represents a 3.79 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Fidji Simo sold 20,750 shares of the firm’s stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $44.39, for a total value of $921,092.50. Following the completion of the sale, the chief executive officer now directly owns 1,803,278 shares of the company’s stock, valued at $80,047,510.42. The trade was a 1.14 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 112,128 shares of company stock worth $4,980,404. 36.00% of the stock is currently owned by company insiders.

Maplebear Price Performance

Shares of CART stock opened at $45.11 on Thursday. The business has a 50-day moving average of $43.61 and a 200 day moving average of $39.57. The stock has a market capitalization of $11.59 billion, a PE ratio of 30.28, a P/E/G ratio of 1.08 and a beta of 1.04. Maplebear Inc. has a 1-year low of $22.70 and a 1-year high of $50.01.

Maplebear (NASDAQ:CARTGet Free Report) last issued its earnings results on Tuesday, November 12th. The company reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.20. Maplebear had a net margin of 13.37% and a return on equity of 13.78%. The firm had revenue of $852.00 million for the quarter, compared to analysts’ expectations of $844.03 million. During the same quarter last year, the business earned ($20.86) earnings per share. The business’s revenue was up 11.5% on a year-over-year basis. Analysts anticipate that Maplebear Inc. will post 1.4 EPS for the current year.

Analyst Ratings Changes

Several brokerages recently commented on CART. Wells Fargo & Company assumed coverage on shares of Maplebear in a research note on Friday, January 10th. They set an “equal weight” rating and a $47.00 price objective for the company. Robert W. Baird boosted their price target on shares of Maplebear from $44.00 to $51.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Needham & Company LLC upgraded Maplebear from a “hold” rating to a “buy” rating and set a $56.00 price objective on the stock in a research report on Monday. Macquarie boosted their target price on Maplebear from $50.00 to $52.00 and gave the stock an “outperform” rating in a research report on Thursday, November 14th. Finally, Stifel Nicolaus raised their price target on Maplebear from $52.00 to $55.00 and gave the company a “buy” rating in a report on Monday, October 28th. Thirteen investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Maplebear has an average rating of “Moderate Buy” and a consensus target price of $48.31.

View Our Latest Stock Report on Maplebear

Maplebear Profile

(Free Report)

Maplebear Inc, doing business as Instacart, engages in the provision of online grocery shopping services to households in North America. It sells and delivers grocery products, as well as pickup services through a mobile application and website. It also operates virtual convenience stores; and provides software-as-a-service solutions to retailers.

See Also

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Institutional Ownership by Quarter for Maplebear (NASDAQ:CART)

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