Franklin Resources Inc. Cuts Stock Holdings in Maplebear Inc. (NASDAQ:CART)

Franklin Resources Inc. lowered its position in shares of Maplebear Inc. (NASDAQ:CART - Free Report) by 5.9% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 256,946 shares of the company's stock after selling 15,982 shares during the period. Franklin Resources Inc. owned about 0.10% of Maplebear worth $10,643,000 at the end of the most recent reporting period.

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

Maplebear Trading Up 1.4 %

CART stock traded up $0.57 during mid-day trading on Monday, reaching $41.74. The company's stock had a trading volume of 490,990 shares, compared to its average volume of 4,056,875. Maplebear Inc. has a fifty-two week low of $29.84 and a fifty-two week high of $53.44. The stock has a market cap of $10.96 billion, a PE ratio of 28.01, a P/E/G ratio of 1.19 and a beta of 1.20. The company's 50 day moving average is $42.67 and its two-hundred day moving average is $43.48.

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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. Maplebear had a net margin of 13.37% and a return on equity of 13.78%. The company had revenue of $883.00 million for the quarter, compared to the consensus estimate of $889.98 million. On average, analysts forecast that Maplebear Inc. will post 1.43 earnings per share for the current fiscal year.

Insider Buying and Selling at Maplebear

In other news, CAO Alan Ramsay sold 2,314 shares of Maplebear stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $46.28, for a total value of $107,091.92. Following the completion of the sale, the chief accounting officer now directly owns 85,421 shares of the company's stock, valued at approximately $3,953,283.88. The trade was a 2.64 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, 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 value of $81,320.00. Following the transaction, the chief executive officer now 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 disclosure for this sale can be found here. Insiders have sold 25,097 shares of company stock worth $1,087,094 over the last quarter. 36.00% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms have recently commented on CART. Macquarie increased their target price on Maplebear from $52.00 to $55.00 and gave the stock an "outperform" rating in a research note on Thursday, February 27th. Seaport Res Ptn upgraded shares of Maplebear to a "strong-buy" rating in a report on Wednesday, February 12th. Needham & Company LLC reaffirmed a "buy" rating and issued a $56.00 price objective on shares of Maplebear in a research report on Wednesday, February 26th. Stifel Nicolaus upped their price target on Maplebear from $56.00 to $57.00 and gave the company a "buy" rating in a report on Wednesday, February 26th. Finally, BMO Capital Markets lifted their price objective on Maplebear from $48.00 to $49.00 and gave the stock a "market perform" rating in a report on Wednesday, February 26th. Twelve investment 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 company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $50.61.

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.