Ardmore Road Asset Management LP Has $9.32 Million Holdings in Maplebear Inc. (NASDAQ:CART)

Ardmore Road Asset Management LP lessened its holdings in shares of Maplebear Inc. (NASDAQ:CART - Free Report) by 25.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 225,000 shares of the company's stock after selling 75,000 shares during the period. Maplebear accounts for about 1.4% of Ardmore Road Asset Management LP's investment portfolio, making the stock its 28th biggest holding. Ardmore Road Asset Management LP owned 0.09% of Maplebear worth $9,320,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in CART. Trexquant Investment LP bought a new stake in shares of Maplebear during the fourth quarter valued at about $2,753,000. National Bank of Canada FI lifted its stake in shares of Maplebear by 3,628.1% in the 4th quarter. National Bank of Canada FI now owns 41,867 shares of the company's stock worth $1,734,000 after acquiring an additional 40,744 shares during the period. Alliancebernstein L.P. boosted its holdings in shares of Maplebear by 343.6% in the fourth quarter. Alliancebernstein L.P. now owns 371,140 shares of the company's stock valued at $15,373,000 after acquiring an additional 287,477 shares in the last quarter. Wellington Management Group LLP boosted its holdings in shares of Maplebear by 867.0% in the fourth quarter. Wellington Management Group LLP now owns 554,882 shares of the company's stock valued at $22,983,000 after acquiring an additional 497,499 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of Maplebear during the fourth quarter valued at approximately $95,162,000. 63.09% of the stock is currently owned by institutional investors and hedge funds.

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Maplebear Trading Down 1.0 %

NASDAQ CART traded down $0.36 on Monday, reaching $37.01. The stock had a trading volume of 2,157,982 shares, compared to its average volume of 4,018,874. The company has a market capitalization of $9.79 billion, a price-to-earnings ratio of 24.87, a P/E/G ratio of 1.19 and a beta of 1.19. Maplebear Inc. has a 1 year low of $29.84 and a 1 year high of $53.44. The business has a 50 day moving average price of $43.98 and a 200 day moving average price of $43.61.

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

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on CART. Barclays upped their target price on Maplebear from $56.00 to $58.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 26th. Wells Fargo & Company decreased their target price on Maplebear from $47.00 to $44.00 and set an "equal weight" rating for the company in a research note on Thursday. Needham & Company LLC reiterated a "buy" rating and issued a $56.00 price target on shares of Maplebear in a research report on Wednesday, February 26th. JPMorgan Chase & Co. cut their price target on shares of Maplebear from $52.00 to $50.00 and set an "overweight" rating for the company in a report on Wednesday, February 26th. Finally, Morgan Stanley lifted their price objective on shares of Maplebear from $44.00 to $45.00 and gave the stock an "equal weight" rating in a research note on Wednesday, February 26th. Thirteen investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, Maplebear presently has an average rating of "Moderate Buy" and a consensus target price of $50.13.

Insider Activity at Maplebear

In other Maplebear news, CEO Fidji Simo sold 20,750 shares of the stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $43.31, for a total transaction of $898,682.50. Following the transaction, the chief executive officer now owns 1,662,692 shares in the company, valued at $72,011,190.52. This trade represents a 1.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Alan Ramsay sold 2,314 shares of the business's 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 completion of the sale, the chief accounting officer now owns 85,421 shares of the company's stock, 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. In the last 90 days, insiders sold 25,097 shares of company stock valued at $1,087,094. Insiders own 36.00% of the company's stock.

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.