Maplebear Inc. (NASDAQ:CART) Shares Sold by NBC Securities Inc.

NBC Securities Inc. trimmed its holdings in Maplebear Inc. (NASDAQ:CART) by 1.5% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 16,675 shares of the company’s stock after selling 250 shares during the period. NBC Securities Inc.’s holdings in Maplebear were worth $679,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Creative Planning raised its position in shares of Maplebear by 1,141.9% during the 3rd quarter. Creative Planning now owns 118,802 shares of the company’s stock valued at $4,840,000 after acquiring an additional 109,236 shares in the last quarter. Exchange Traded Concepts LLC increased its position in Maplebear by 3.2% in the third quarter. Exchange Traded Concepts LLC now owns 64,943 shares of the company’s stock worth $2,646,000 after buying an additional 1,993 shares during the period. Paragon Capital Management Ltd increased its position in Maplebear by 50.0% in the third quarter. Paragon Capital Management Ltd now owns 9,555 shares of the company’s stock worth $389,000 after buying an additional 3,185 shares during the period. Watts Gwilliam & Co. LLC acquired a new stake in Maplebear in the third quarter worth $231,000. Finally, FCF Advisors LLC acquired a new stake in Maplebear in the third quarter worth $1,672,000. 63.09% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently issued reports on CART shares. Piper Sandler increased their price target on Maplebear from $47.00 to $50.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 7th. BMO Capital Markets increased their price target on Maplebear from $36.00 to $39.00 and gave the company a “market perform” rating in a research report on Wednesday, August 7th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $45.00 price target on shares of Maplebear in a research report on Monday, October 7th. Citigroup increased their price objective on Maplebear from $44.00 to $47.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. Finally, Raymond James initiated coverage on Maplebear in a research note on Tuesday, September 24th. They set a “market perform” rating for the company. Twelve analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $43.10.

Maplebear Stock Down 2.3 %

NASDAQ CART opened at $41.99 on Thursday. Maplebear Inc. has a twelve month low of $22.13 and a twelve month high of $45.01. The company has a market cap of $11.11 billion and a price-to-earnings ratio of -2.12. The business’s fifty day moving average is $37.40 and its 200 day moving average is $35.35.

Maplebear (NASDAQ:CART) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.20 earnings per share 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 for the quarter, compared to the consensus estimate of $806.35 million. The business’s revenue for the quarter was up 14.9% on a year-over-year basis. On average, research analysts anticipate that Maplebear Inc. will post 1.14 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Maplebear news, CAO Alan Ramsay sold 2,626 shares of Maplebear stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $35.02, for a total transaction of $91,962.52. Following the transaction, the chief accounting officer now directly owns 107,910 shares of the company’s stock, valued at approximately $3,779,008.20. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, General Counsel Morgan Fong sold 9,506 shares of the business’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 transaction, the general counsel now directly owns 372,335 shares of the company’s stock, valued at $13,039,171.70. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Alan Ramsay sold 2,626 shares of the business’s stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $35.02, for a total value of $91,962.52. Following the completion of the transaction, the chief accounting officer now directly owns 107,910 shares in the company, valued at $3,779,008.20. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 66,955 shares of company stock valued at $2,480,317. 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.