Maplebear Inc. (NASDAQ:CART) is AlpInvest Partners B.V.'s 4th Largest Position

AlpInvest Partners B.V. reduced its stake in Maplebear Inc. (NASDAQ:CART - Free Report) by 40.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 358,614 shares of the company's stock after selling 238,874 shares during the period. Maplebear makes up approximately 15.6% of AlpInvest Partners B.V.'s investment portfolio, making the stock its 4th biggest position. AlpInvest Partners B.V. owned about 0.14% of Maplebear worth $14,854,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CART. Victory Capital Management Inc. boosted its position in shares of Maplebear by 11,501.2% during the fourth quarter. Victory Capital Management Inc. now owns 4,526,673 shares of the company's stock worth $187,495,000 after acquiring an additional 4,487,654 shares during the last quarter. Boston Partners purchased a new position in Maplebear during the fourth quarter worth $111,506,000. Vanguard Group Inc. boosted its position in Maplebear by 16.8% in the 4th quarter. Vanguard Group Inc. now owns 15,968,358 shares of the company's stock valued at $661,409,000 after buying an additional 2,300,288 shares during the last quarter. Norges Bank bought a new stake in shares of Maplebear during the fourth quarter valued at about $95,162,000. Finally, Geode Capital Management LLC lifted its position in Maplebear by 151.7% in the 3rd quarter. Geode Capital Management LLC now owns 2,732,738 shares of the company's stock worth $111,361,000 after buying an additional 1,647,081 shares in the last quarter. 63.09% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Wells Fargo & Company cut their price objective on shares of Maplebear from $47.00 to $44.00 and set an "equal weight" rating on the stock in a report on Thursday, April 3rd. Benchmark reiterated a "hold" rating on shares of Maplebear in a report on Wednesday, February 26th. Loop Capital cut their price target on shares of Maplebear from $56.00 to $52.00 and set a "buy" rating on the stock in a report on Thursday, March 6th. BMO Capital Markets boosted their price objective on Maplebear from $48.00 to $49.00 and gave the stock a "market perform" rating in a research note on Wednesday, February 26th. Finally, JMP Securities reiterated a "market outperform" rating and set a $55.00 price target on shares of Maplebear in a research note on Friday, April 11th. Twelve analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $50.61.

Maplebear Price Performance

Shares of Maplebear stock traded up $0.91 during trading hours on Friday, reaching $42.99. The company's stock had a trading volume of 5,453,705 shares, compared to its average volume of 4,085,975. Maplebear Inc. has a one year low of $29.84 and a one year high of $53.44. The stock has a market cap of $11.29 billion, a P/E ratio of 28.85, a P/E/G ratio of 1.19 and a beta of 1.20. The firm has a 50 day moving average price of $42.12 and a 200-day moving average price of $43.49.

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 analysts' consensus estimates of $0.37 by $0.16. The firm had revenue of $883.00 million during the quarter, compared to the consensus estimate of $889.98 million. Maplebear had a net margin of 13.37% and a return on equity of 13.78%. As a group, sell-side analysts forecast that Maplebear Inc. will post 1.43 EPS for the current fiscal year.

Insider Activity

In other news, CEO Fidji Simo sold 20,750 shares of the company's stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $43.31, for a total value of $898,682.50. Following the transaction, the chief executive officer now owns 1,662,692 shares of the company's stock, valued at approximately $72,011,190.52. This represents a 1.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Alan Ramsay sold 2,314 shares of the stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $46.28, for a total transaction of $107,091.92. Following the sale, 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 disclosure for this sale can be found here. Insiders sold 33,230 shares of company stock worth $1,425,427 over the last three months. Corporate insiders own 36.00% of the company's stock.

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.