HighTower Advisors LLC Sells 57,047 Shares of Maplebear Inc. (NASDAQ:CART)

HighTower Advisors LLC lowered its holdings in Maplebear Inc. (NASDAQ:CART - Free Report) by 27.8% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 148,221 shares of the company's stock after selling 57,047 shares during the quarter. HighTower Advisors LLC owned approximately 0.06% of Maplebear worth $6,139,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of CART. Jones Financial Companies Lllp raised its position in shares of Maplebear by 46.6% in the 4th quarter. Jones Financial Companies Lllp now owns 698 shares of the company's stock worth $29,000 after acquiring an additional 222 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new position in shares of Maplebear in the 3rd quarter worth approximately $33,000. Allworth Financial LP raised its position in shares of Maplebear by 101.4% in the 4th quarter. Allworth Financial LP now owns 834 shares of the company's stock worth $37,000 after acquiring an additional 420 shares in the last quarter. Huntington National Bank bought a new position in shares of Maplebear in the 3rd quarter worth approximately $54,000. Finally, Cullen Frost Bankers Inc. bought a new position in shares of Maplebear in the 4th quarter worth approximately $62,000. Hedge funds and other institutional investors own 63.09% of the company's stock.

Insider Transactions at Maplebear

In other news, CAO Alan Ramsay sold 2,314 shares of Maplebear stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $46.28, for a total value of $107,091.92. Following 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 document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Fidji Simo sold 2,033 shares of Maplebear stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $40.00, for a total value of $81,320.00. Following the completion of the sale, the chief executive officer now directly owns 1,654,559 shares in the company, 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. Over the last three months, insiders have sold 25,097 shares of company stock valued at $1,087,094. 36.00% of the stock is currently owned by insiders.

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Maplebear Stock Performance

Shares of Maplebear stock traded down $0.03 during trading hours on Friday, hitting $38.90. The company's stock had a trading volume of 13,057,199 shares, compared to its average volume of 3,930,036. The business has a 50 day moving average price of $45.10 and a two-hundred day moving average price of $43.21. 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 $10.29 billion, a PE ratio of 26.11, a PEG ratio of 1.19 and a beta of 1.34.

Maplebear (NASDAQ:CART - Get Free Report) last announced its quarterly earnings data on Tuesday, February 25th. The company reported $0.53 EPS for the quarter, beating the consensus estimate of $0.37 by $0.16. Maplebear had a return on equity of 13.78% and a net margin of 13.37%. The business had revenue of $883.00 million for the quarter, compared to the consensus estimate of $889.98 million. As a group, research analysts anticipate that Maplebear Inc. will post 1.43 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have recently issued reports on CART shares. Loop Capital decreased their target price on Maplebear from $56.00 to $52.00 and set a "buy" rating for the company in a research report on Thursday, March 6th. Benchmark reaffirmed a "hold" rating on shares of Maplebear in a research report on Wednesday, February 26th. Deutsche Bank Aktiengesellschaft initiated coverage on Maplebear in a research report on Tuesday, December 3rd. They set a "hold" rating and a $37.00 price objective for the company. Stifel Nicolaus raised their price objective on Maplebear from $56.00 to $57.00 and gave the company a "buy" rating in a research report on Wednesday, February 26th. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $56.00 price objective on shares of Maplebear in a research report on Wednesday, February 26th. Thirteen equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $50.52.

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.