Maplebear Inc. (NASDAQ:CART) Shares Sold by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. lessened its holdings in Maplebear Inc. (NASDAQ:CART - Free Report) by 47.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 135,431 shares of the company's stock after selling 123,234 shares during the quarter. Assenagon Asset Management S.A. owned 0.05% of Maplebear worth $5,610,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Pacer Advisors Inc. acquired a new stake in shares of Maplebear in the third quarter valued at about $158,701,000. Geode Capital Management LLC lifted its position in shares of Maplebear by 151.7% during the 3rd quarter. Geode Capital Management LLC now owns 2,732,738 shares of the company's stock valued at $111,361,000 after acquiring an additional 1,647,081 shares during the period. Maverick Capital Ltd. boosted its stake in shares of Maplebear by 19.7% during the 3rd quarter. Maverick Capital Ltd. now owns 2,684,425 shares of the company's stock worth $109,363,000 after acquiring an additional 441,156 shares in the last quarter. State Street Corp boosted its stake in shares of Maplebear by 48.3% during the 3rd quarter. State Street Corp now owns 2,552,617 shares of the company's stock worth $103,994,000 after acquiring an additional 831,795 shares in the last quarter. Finally, Southpoint Capital Advisors LP grew its holdings in shares of Maplebear by 56.3% in the 3rd quarter. Southpoint Capital Advisors LP now owns 2,500,000 shares of the company's stock worth $101,850,000 after acquiring an additional 900,000 shares during the period. Institutional investors and hedge funds own 63.09% of the company's stock.

Insider Buying and Selling

In other Maplebear news, General Counsel Morgan Fong sold 29,253 shares of the company's stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $48.03, for a total transaction of $1,405,021.59. Following the sale, the general counsel now owns 258,406 shares in the company, valued at $12,411,240.18. This represents a 10.17 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CAO Alan Ramsay sold 2,247 shares of Maplebear stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $41.06, for a total value of $92,261.82. Following the completion of the transaction, the chief accounting officer now owns 89,982 shares of the company's stock, valued at approximately $3,694,660.92. The trade was a 2.44 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 98,244 shares of company stock worth $4,383,809. Insiders own 36.00% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on CART shares. Oppenheimer lifted their price objective on Maplebear from $55.00 to $60.00 and gave the stock an "outperform" rating in a report on Wednesday, November 13th. Mizuho started coverage on shares of Maplebear in a research report on Tuesday, January 14th. They issued an "outperform" rating and a $55.00 price objective on the stock. Jefferies Financial Group assumed coverage on shares of Maplebear in a research note on Wednesday, October 16th. They issued a "hold" rating and a $43.00 price objective on the stock. BTIG Research upgraded shares of Maplebear from a "neutral" rating to a "buy" rating and set a $58.00 target price for the company in a research report on Tuesday, January 14th. Finally, Bank of America increased their price target on shares of Maplebear from $50.00 to $51.00 and gave the company a "neutral" rating in a research report on Wednesday, November 13th. Thirteen 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. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $48.31.

Maplebear Trading Up 0.2 %

NASDAQ:CART traded up $0.11 on Tuesday, reaching $46.43. The stock had a trading volume of 3,636,006 shares, compared to its average volume of 5,967,884. The company has a 50-day moving average of $43.46 and a 200 day moving average of $39.92. The stock has a market cap of $11.93 billion, a P/E ratio of 31.16, a price-to-earnings-growth ratio of 1.05 and a beta of 1.04. Maplebear Inc. has a 12-month low of $23.59 and a 12-month high of $50.01.

Maplebear (NASDAQ:CART - Get Free Report) last issued its quarterly earnings data on Tuesday, November 12th. The company reported $0.42 earnings per share for the quarter, beating analysts' consensus estimates of $0.22 by $0.20. Maplebear had a return on equity of 13.78% and a net margin of 13.37%. The firm had revenue of $852.00 million during the quarter, compared to analyst estimates of $844.03 million. During the same quarter last year, the firm earned ($20.86) EPS. Maplebear's quarterly revenue was up 11.5% on a year-over-year basis. On average, equities analysts predict that Maplebear Inc. will post 1.4 EPS for the current year.

About Maplebear

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.