JPMorgan Chase & Co. lowered its holdings in shares of Maplebear Inc. (NASDAQ:CART - Free Report) by 9.1% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 383,082 shares of the company's stock after selling 38,558 shares during the period. JPMorgan Chase & Co. owned about 0.15% of Maplebear worth $15,607,000 as of its most recent filing with the SEC.
A number of other large investors also recently added to or reduced their stakes in CART. Wilmington Savings Fund Society FSB purchased a new position in shares of Maplebear in the third quarter worth about $33,000. Huntington National Bank bought a new stake in Maplebear in the third quarter valued at approximately $54,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Maplebear during the third quarter valued at approximately $74,000. Quarry LP increased its stake in shares of Maplebear by 269.5% in the second quarter. Quarry LP now owns 3,928 shares of the company's stock worth $126,000 after buying an additional 2,865 shares during the period. Finally, Vinva Investment Management Ltd bought a new stake in Maplebear during the 3rd quarter valued at $212,000. Hedge funds and other institutional investors own 63.09% of the company's stock.
Insider Activity
In other Maplebear news, General Counsel Morgan Fong sold 11,325 shares of the business's stock in a transaction on Monday, October 21st. The shares were sold at an average price of $42.97, for a total transaction of $486,635.25. Following the completion of the sale, the general counsel now directly owns 287,659 shares in the company, valued at approximately $12,360,707.23. The trade was a 3.79 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Alan Ramsay sold 2,559 shares of the firm's stock in a transaction on Monday, October 21st. The stock was sold at an average price of $42.97, for a total value of $109,960.23. Following the completion of the transaction, the chief accounting officer now owns 96,666 shares in the company, valued at approximately $4,153,738.02. This trade represents a 2.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 112,128 shares of company stock valued at $4,980,404 over the last ninety days. 36.00% of the stock is currently owned by corporate insiders.
Maplebear Trading Down 1.3 %
NASDAQ:CART traded down $0.59 on Friday, reaching $44.23. 6,075,492 shares of the stock traded hands, compared to its average volume of 4,003,749. The company's fifty day simple moving average is $43.59 and its 200 day simple moving average is $39.33. The company has a market capitalization of $11.36 billion, a price-to-earnings ratio of 29.68, a PEG ratio of 1.08 and a beta of 1.04. Maplebear Inc. has a 12 month low of $22.60 and a 12 month high of $50.01.
Maplebear (NASDAQ:CART - Get Free Report) last announced its quarterly earnings data on Tuesday, November 12th. The company reported $0.42 earnings per share for the quarter, topping analysts' consensus estimates of $0.22 by $0.20. The company had revenue of $852.00 million during the quarter, compared to analyst estimates of $844.03 million. Maplebear had a net margin of 13.37% and a return on equity of 13.78%. The firm's revenue for the quarter was up 11.5% on a year-over-year basis. During the same period in the previous year, the business earned ($20.86) EPS. Equities analysts anticipate that Maplebear Inc. will post 1.4 EPS for the current fiscal year.
Wall Street Analyst Weigh In
A number of brokerages have issued reports on CART. Bank of America raised their price target on shares of Maplebear from $50.00 to $51.00 and gave the stock a "neutral" rating in a report on Wednesday, November 13th. Stifel Nicolaus boosted their price target on Maplebear from $52.00 to $55.00 and gave the company a "buy" rating in a report on Monday, October 28th. Macquarie lifted their price objective on Maplebear from $50.00 to $52.00 and gave the stock an "outperform" rating in a research report on Thursday, November 14th. Needham & Company LLC restated a "hold" rating on shares of Maplebear in a report on Wednesday, November 13th. Finally, Robert W. Baird lifted their price target on shares of Maplebear from $44.00 to $51.00 and gave the company an "outperform" rating in a report on Wednesday, November 13th. Fourteen investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $47.13.
Read Our Latest Report on Maplebear
Maplebear Company Profile
(
Free Report)
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.
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