HighVista Strategies LLC Reduces Holdings in Maplebear Inc. (NASDAQ:CART)

HighVista Strategies LLC reduced its position in Maplebear Inc. (NASDAQ:CART - Free Report) by 15.6% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 78,500 shares of the company's stock after selling 14,488 shares during the period. Maplebear comprises 1.1% of HighVista Strategies LLC's holdings, making the stock its 24th largest position. HighVista Strategies LLC's holdings in Maplebear were worth $3,198,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in CART. Simcoe Capital Management LLC boosted its holdings in shares of Maplebear by 216.5% during the third quarter. Simcoe Capital Management LLC now owns 1,225,690 shares of the company's stock worth $49,935,000 after acquiring an additional 838,470 shares during the period. Maverick Capital Ltd. boosted its position in shares of Maplebear by 19.7% in the third quarter. Maverick Capital Ltd. now owns 2,684,425 shares of the company's stock valued at $109,363,000 after acquiring an additional 441,156 shares during the period. Southpoint Capital Advisors LP grew its stake in shares of Maplebear by 56.3% in the third quarter. Southpoint Capital Advisors LP now owns 2,500,000 shares of the company's stock valued at $101,850,000 after acquiring an additional 900,000 shares in the last quarter. Verition Fund Management LLC increased its position in Maplebear by 54.0% during the third quarter. Verition Fund Management LLC now owns 630,809 shares of the company's stock worth $25,699,000 after acquiring an additional 221,091 shares during the period. Finally, Vinva Investment Management Ltd acquired a new stake in Maplebear in the 3rd quarter worth about $212,000. Institutional investors and hedge funds own 63.09% of the company's stock.

Analyst Upgrades and Downgrades

CART has been the topic of several recent research reports. JPMorgan Chase & Co. raised their target price on shares of Maplebear from $47.00 to $52.00 and gave the stock an "overweight" rating in a report on Wednesday, November 13th. Bank of America upped their price objective on shares of Maplebear from $50.00 to $51.00 and gave the stock a "neutral" rating in a research report on Wednesday, November 13th. JMP Securities raised their price target on shares of Maplebear from $42.00 to $51.00 and gave the stock a "market outperform" rating in a report on Wednesday, November 13th. BMO Capital Markets upped their price objective on shares of Maplebear from $39.00 to $48.00 and gave the company a "market perform" rating in a research note on Wednesday, November 13th. Finally, Wedbush lifted their target price on shares of Maplebear from $35.00 to $38.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 7th. Thirteen research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $46.82.

Insider Transactions at Maplebear

In other Maplebear news, CAO Alan Ramsay sold 2,247 shares of the company's stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $41.06, for a total value of $92,261.82. Following the transaction, the chief accounting officer now directly owns 89,982 shares in the company, valued at $3,694,660.92. This represents a 2.44 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Fidji Simo sold 20,750 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $42.97, for a total value of $891,627.50. Following the transaction, the chief executive officer now owns 1,804,243 shares in the company, valued at $77,528,321.71. This trade represents a 1.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 110,954 shares of company stock worth $4,890,405. 36.00% of the stock is owned by company insiders.

Maplebear Trading Up 0.4 %

Shares of NASDAQ:CART traded up $0.19 during midday trading on Tuesday, reaching $43.70. The company had a trading volume of 2,421,129 shares, compared to its average volume of 3,984,209. The stock has a market cap of $11.23 billion, a P/E ratio of 29.20, a P/E/G ratio of 1.13 and a beta of 0.94. Maplebear Inc. has a 52-week low of $22.13 and a 52-week high of $50.01. The company's 50 day moving average price is $43.20 and its 200 day moving average price is $37.14.

Maplebear (NASDAQ:CART - Get Free Report) last posted its quarterly earnings results on Tuesday, November 12th. The company reported $0.42 EPS for the quarter, topping analysts' consensus estimates of $0.22 by $0.20. Maplebear had a net margin of 13.37% and a return on equity of 13.78%. The company had revenue of $852.00 million for the quarter, compared to analysts' expectations of $844.03 million. During the same quarter in the previous year, the firm posted ($20.86) EPS. Maplebear's revenue was up 11.5% on a year-over-year basis. Research analysts forecast that Maplebear Inc. will post 1.4 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.