Point72 Italy S.r.l. Decreases Stock Position in Maplebear Inc. (NASDAQ:CART)

Point72 Italy S.r.l. lessened its stake in shares of Maplebear Inc. (NASDAQ:CART) by 24.0% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 170,820 shares of the company’s stock after selling 53,911 shares during the quarter. Maplebear makes up approximately 2.4% of Point72 Italy S.r.l.’s portfolio, making the stock its 12th biggest position. Point72 Italy S.r.l. owned 0.06% of Maplebear worth $5,490,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Parallel Advisors LLC raised its holdings in Maplebear by 139.3% during the 4th quarter. Parallel Advisors LLC now owns 1,065 shares of the company’s stock valued at $25,000 after buying an additional 620 shares during the last quarter. Cantor Fitzgerald L. P. raised its stake in shares of Maplebear by 389.5% during the fourth quarter. Cantor Fitzgerald L. P. now owns 1,850 shares of the company’s stock valued at $43,000 after acquiring an additional 2,489 shares during the last quarter. nVerses Capital LLC boosted its holdings in shares of 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 period. Kapitalo Investimentos Ltda bought a new stake in shares of Maplebear in the fourth quarter worth about $69,000. Finally, Oppenheimer & Co. Inc. purchased a new position in Maplebear during the 1st quarter valued at about $213,000. Hedge funds and other institutional investors own 63.09% of the company’s stock.

Maplebear Stock Down 0.3 %

Shares of NASDAQ:CART opened at $40.08 on Wednesday. Maplebear Inc. has a 1 year low of $22.13 and a 1 year high of $42.58. The stock’s fifty day moving average price is $34.86 and its 200-day moving average price is $34.76.

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

Wall Street Analysts Forecast Growth

CART has been the topic of several recent analyst reports. Raymond James assumed coverage on shares of Maplebear in a report on Tuesday. They issued a “market perform” rating on the stock. Gordon Haskett upgraded shares of Maplebear from a “hold” rating to a “buy” rating and raised their price objective for the stock from $37.00 to $45.00 in a report on Wednesday, June 5th. Morgan Stanley cut their price objective on Maplebear from $45.00 to $41.00 and set an “equal weight” rating on the stock in a research report on Tuesday. Citigroup increased 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. Finally, Benchmark restated a “hold” rating on shares of Maplebear in a research report on Wednesday, August 7th. Eleven analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $43.33.

Insider Buying and Selling at Maplebear

In other news, General Counsel Morgan Fong sold 9,506 shares of the company’s stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $35.02, for a total value of $332,900.12. Following the completion of the transaction, the general counsel now owns 372,335 shares of the company’s stock, valued at $13,039,171.70. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CAO Alan Ramsay sold 2,486 shares of the stock in a transaction that occurred 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 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 filing with the SEC, which is available through this link. Also, General Counsel Morgan Fong sold 9,506 shares of the company’s stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $35.02, for a total transaction of $332,900.12. Following the sale, the general counsel now directly owns 372,335 shares in the company, valued at approximately $13,039,171.70. The disclosure for this sale can be found here. Insiders have sold a total of 67,655 shares of company stock valued at $2,504,824 over the last ninety days. 36.00% of the stock is currently owned by company insiders.

Maplebear 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.