Alpine Woods Capital Investors LLC Trims Holdings in Maplebear Inc. (NASDAQ:CART)

Alpine Woods Capital Investors LLC decreased its holdings in Maplebear Inc. (NASDAQ:CART - Free Report) by 38.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 36,035 shares of the company's stock after selling 22,258 shares during the quarter. Alpine Woods Capital Investors LLC's holdings in Maplebear were worth $1,493,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Jones Financial Companies Lllp boosted its stake in shares of Maplebear by 46.6% in the fourth quarter. Jones Financial Companies Lllp now owns 698 shares of the company's stock valued at $29,000 after purchasing an additional 222 shares during the period. CIBC Asset Management Inc boosted its stake in shares of Maplebear by 3.7% in the third quarter. CIBC Asset Management Inc now owns 8,114 shares of the company's stock valued at $331,000 after purchasing an additional 286 shares during the period. Allworth Financial LP lifted its stake in Maplebear by 101.4% in the fourth quarter. Allworth Financial LP now owns 834 shares of the company's stock worth $37,000 after acquiring an additional 420 shares during the last quarter. Coldstream Capital Management Inc. lifted its stake in Maplebear by 1.6% in the third quarter. Coldstream Capital Management Inc. now owns 31,745 shares of the company's stock worth $1,294,000 after acquiring an additional 490 shares during the last quarter. Finally, Oppenheimer & Co. Inc. lifted its stake in Maplebear by 5.1% in the third quarter. Oppenheimer & Co. Inc. now owns 12,090 shares of the company's stock worth $493,000 after acquiring an additional 584 shares during the last quarter. Hedge funds and other institutional investors own 63.09% of the company's stock.

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Insiders Place Their Bets

In related news, CAO Alan Ramsay sold 2,247 shares of the business's stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $42.14, for a total value of $94,688.58. Following the sale, the chief accounting officer now directly owns 87,735 shares in the company, valued at $3,697,152.90. The trade was a 2.50 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Fidji Simo sold 20,750 shares of the business's stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $42.74, for a total transaction of $886,855.00. Following the completion of the sale, the chief executive officer now owns 1,771,993 shares in the company, valued at $75,734,980.82. This represents a 1.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 46,061 shares of company stock worth $1,987,318. Corporate insiders own 36.00% of the company's stock.

Maplebear Stock Down 1.2 %

NASDAQ:CART traded down $0.48 during midday trading on Tuesday, reaching $40.16. The stock had a trading volume of 3,631,633 shares, compared to its average volume of 3,888,370. The firm has a fifty day simple moving average of $45.48 and a two-hundred day simple moving average of $43.21. Maplebear Inc. has a 12-month low of $29.84 and a 12-month high of $53.44. The stock has a market cap of $10.63 billion, a P/E ratio of 26.95, a P/E/G ratio of 1.19 and a beta of 1.34.

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

Analysts Set New Price Targets

A number of research analysts recently issued reports on CART shares. Cantor Fitzgerald reiterated an "overweight" rating and issued a $55.00 price target on shares of Maplebear in a research note on Wednesday, February 26th. BMO Capital Markets lifted their price target on shares of Maplebear from $48.00 to $49.00 and gave the stock a "market perform" rating in a research note on Wednesday, February 26th. Loop Capital decreased their price target on shares of Maplebear from $56.00 to $52.00 and set a "buy" rating for the company in a research note on Thursday, March 6th. Needham & Company LLC reissued a "buy" rating and set a $56.00 price objective on shares of Maplebear in a report on Wednesday, February 26th. Finally, Bank of America raised their price objective on shares of Maplebear from $51.00 to $53.00 and gave the stock a "neutral" rating in a report on Tuesday, February 25th. Thirteen investment 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. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $50.52.

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.