Maplebear Inc. (NASDAQ:CART) Shares Sold by Blueshift Asset Management LLC

Blueshift Asset Management LLC lowered its stake in shares of Maplebear Inc. (NASDAQ:CART) by 64.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,784 shares of the company’s stock after selling 12,549 shares during the quarter. Blueshift Asset Management LLC’s holdings in Maplebear were worth $281,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in CART. Jones Financial Companies Lllp raised its stake in Maplebear by 46.6% during the fourth quarter. Jones Financial Companies Lllp now owns 698 shares of the company’s stock valued at $29,000 after buying an additional 222 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new stake in shares of Maplebear in the 3rd quarter valued at approximately $33,000. Allworth Financial LP raised its position in shares of Maplebear by 101.4% during the 4th quarter. Allworth Financial LP now owns 834 shares of the company’s stock valued at $37,000 after acquiring an additional 420 shares in the last quarter. Cullen Frost Bankers Inc. bought a new position in Maplebear during the fourth quarter worth $62,000. Finally, PNC Financial Services Group Inc. boosted its holdings in Maplebear by 243.3% in the fourth 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 period. Institutional investors own 63.09% of the company’s stock.

Insider Buying and Selling

In other news, CEO Fidji Simo sold 2,033 shares of the stock in a transaction on Monday, March 17th. The stock was sold at an average price of $40.00, for a total transaction of $81,320.00. Following the completion of the sale, the chief executive officer now owns 1,654,559 shares in the company, valued at approximately $66,182,360. This represents a 0.12 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Alan Ramsay sold 2,314 shares of Maplebear stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $46.28, for a total value of $107,091.92. Following the completion of the transaction, the chief accounting officer now owns 85,421 shares in the company, valued at $3,953,283.88. The trade was a 2.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 25,097 shares of company stock valued at $1,087,094 over the last three months. Company insiders own 36.00% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on CART. Wedbush reduced their price target on shares of Maplebear from $48.00 to $46.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 26th. Deutsche Bank Aktiengesellschaft started coverage on Maplebear in a research note on Tuesday, December 3rd. They issued a “hold” rating and a $37.00 target price for the company. Oppenheimer dropped their price target on Maplebear from $65.00 to $60.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 26th. Mizuho reduced their price objective on Maplebear from $55.00 to $52.00 and set an “outperform” rating for the company in a research report on Wednesday, February 26th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $56.00 target price on shares of Maplebear in a research report on Wednesday, February 26th. Thirteen equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Maplebear has an average rating of “Moderate Buy” and a consensus target price of $50.52.

Maplebear Price Performance

NASDAQ CART opened at $38.90 on Friday. Maplebear Inc. has a 12 month low of $29.84 and a 12 month high of $53.44. The firm has a market capitalization of $10.29 billion, a PE ratio of 26.11, a P/E/G ratio of 1.19 and a beta of 1.34. The company’s 50 day simple moving average is $45.10 and its 200 day simple moving average is $43.21.

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

Maplebear 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.