Bank of Montreal Can Cuts Stake in Maplebear Inc. (NASDAQ:CART)

Bank of Montreal Can lessened its holdings in Maplebear Inc. (NASDAQ:CART - Free Report) by 92.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 7,765 shares of the company's stock after selling 92,591 shares during the quarter. Bank of Montreal Can's holdings in Maplebear were worth $322,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Jones Financial Companies Lllp grew its position in shares of Maplebear by 46.6% during the 4th quarter. Jones Financial Companies Lllp now owns 698 shares of the company's stock worth $29,000 after purchasing an additional 222 shares in the last quarter. Allworth Financial LP boosted its stake in shares of Maplebear by 101.4% in the fourth quarter. Allworth Financial LP now owns 834 shares of the company's stock valued at $37,000 after buying an additional 420 shares during the period. CIBC Asset Management Inc grew its position in Maplebear by 5.4% during the fourth quarter. CIBC Asset Management Inc now owns 8,554 shares of the company's stock worth $354,000 after buying an additional 440 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new position in Maplebear during the 3rd quarter worth $33,000. Finally, Adero Partners LLC raised its holdings in Maplebear by 7.4% in the 4th quarter. Adero Partners LLC now owns 12,019 shares of the company's stock valued at $498,000 after acquiring an additional 828 shares in the last quarter. 63.09% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently issued reports on CART shares. JMP Securities restated a "market outperform" rating and issued a $55.00 price target on shares of Maplebear in a research report on Friday, April 11th. BTIG Research raised shares of Maplebear from a "neutral" rating to a "buy" rating and set a $58.00 price target for the company in a report on Tuesday, January 14th. Wells Fargo & Company cut 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, April 3rd. Morgan Stanley boosted their price target on Maplebear from $44.00 to $45.00 and gave the stock an "equal weight" rating in a report on Wednesday, February 26th. Finally, Oppenheimer reduced their price objective on Maplebear from $65.00 to $60.00 and set an "outperform" rating on the stock in a research note on Wednesday, February 26th. Twelve research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $50.48.

Insider Buying and Selling at Maplebear

In related news, CEO Fidji Simo sold 2,033 shares of the firm's stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $40.00, for a total transaction of $81,320.00. Following the transaction, the chief executive officer now directly owns 1,654,559 shares of the company's stock, valued at $66,182,360. This trade represents a 0.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Morgan Fong sold 5,249 shares of the business's stock in a transaction dated Monday, April 21st. The stock was sold at an average price of $42.57, for a total transaction of $223,449.93. Following the transaction, the general counsel now owns 484,292 shares in the company, valued at approximately $20,616,310.44. This trade represents a 1.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 36,165 shares of company stock worth $1,541,785. Corporate insiders own 26.00% of the company's stock.

Maplebear Price Performance

Shares of NASDAQ:CART traded up $0.25 during midday trading on Friday, hitting $41.91. 2,619,129 shares of the company's stock were exchanged, compared to its average volume of 4,060,172. Maplebear Inc. has a 12 month low of $29.84 and a 12 month high of $53.44. The company has a market cap of $11.00 billion, a PE ratio of 28.13, a price-to-earnings-growth ratio of 1.19 and a beta of 1.20. The stock has a 50 day moving average price of $41.13 and a 200-day moving average price of $43.53.

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