Swiss National Bank Trims Stock Position in Maplebear Inc. (NASDAQ:CART)

Swiss National Bank trimmed its holdings in shares of Maplebear Inc. (NASDAQ:CART) by 2.2% in the fourth quarter, HoldingsChannel reports. The firm owned 177,000 shares of the company’s stock after selling 3,900 shares during the period. Swiss National Bank’s holdings in Maplebear were worth $7,331,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the stock. Jones Financial Companies Lllp increased its position in Maplebear by 46.6% during the fourth quarter. Jones Financial Companies Lllp now owns 698 shares of the company’s stock worth $29,000 after buying an additional 222 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in Maplebear during the 3rd quarter worth about $33,000. Allworth Financial LP raised its stake in Maplebear by 101.4% in the 4th quarter. Allworth Financial LP now owns 834 shares of the company’s stock valued at $37,000 after purchasing an additional 420 shares during the last quarter. Cullen Frost Bankers Inc. purchased a new position in Maplebear in the 4th quarter valued at about $62,000. Finally, PNC Financial Services Group Inc. boosted its stake in shares of Maplebear by 243.3% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,399 shares of the company’s stock worth $141,000 after purchasing an additional 2,409 shares during the last quarter. 63.09% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently issued reports on CART shares. Macquarie upped their price objective on shares of Maplebear from $52.00 to $55.00 and gave the company an “outperform” rating in a research note on Thursday, February 27th. Seaport Res Ptn raised Maplebear to a “strong-buy” rating in a research note on Wednesday, February 12th. BTIG Research raised Maplebear from a “neutral” rating to a “buy” rating and set a $58.00 price objective for the company in a research report on Tuesday, January 14th. Wedbush reduced their target price on Maplebear from $48.00 to $46.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 26th. Finally, Oppenheimer lowered their price target on Maplebear from $65.00 to $60.00 and set an “outperform” rating for the company in a report on Wednesday, February 26th. Thirteen research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Maplebear presently has an average rating of “Moderate Buy” and an average price target of $50.52.

Maplebear Trading Down 0.1 %

Shares of CART stock opened at $38.90 on Friday. The firm has a fifty day simple moving average of $45.10 and a 200-day simple moving average of $43.27. The company has a market capitalization of $10.29 billion, a PE ratio of 26.11, a price-to-earnings-growth ratio of 1.19 and a beta of 1.34. Maplebear Inc. has a twelve month low of $29.84 and a twelve month high of $53.44.

Maplebear (NASDAQ:CART) last posted its quarterly earnings data on Tuesday, February 25th. The company reported $0.53 earnings per share for the quarter, beating analysts’ consensus estimates of $0.37 by $0.16. Maplebear had a net margin of 13.37% and a return on equity of 13.78%. The company had revenue of $883.00 million during the quarter, compared to analysts’ expectations of $889.98 million. Equities research analysts predict that Maplebear Inc. will post 1.43 EPS for the current year.

Insider Buying and Selling at Maplebear

In other news, CAO Alan Ramsay sold 2,314 shares of the stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $46.28, for a total transaction of $107,091.92. Following the transaction, the chief accounting officer now owns 85,421 shares of the company’s stock, valued at approximately $3,953,283.88. This trade represents a 2.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Fidji Simo sold 2,033 shares of the business’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $40.00, for a total value of $81,320.00. Following the completion of the sale, the chief executive officer now directly owns 1,654,559 shares of the company’s stock, valued at approximately $66,182,360. This represents a 0.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 25,097 shares of company stock worth $1,087,094 in the last 90 days. 36.00% of the stock is owned by corporate insiders.

Maplebear Company Profile

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.