Maplebear Inc. (NASDAQ:CART) Shares Sold by Legal & General Group Plc

Legal & General Group Plc cut its position in shares of Maplebear Inc. (NASDAQ:CART - Free Report) by 4.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 181,939 shares of the company's stock after selling 7,949 shares during the quarter. Legal & General Group Plc owned approximately 0.07% of Maplebear worth $7,536,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of Maplebear by 16.8% during the 4th quarter. Vanguard Group Inc. now owns 15,968,358 shares of the company's stock worth $661,409,000 after purchasing an additional 2,300,288 shares during the last quarter. Victory Capital Management Inc. raised its stake in shares of Maplebear by 11,501.2% during the 4th quarter. Victory Capital Management Inc. now owns 4,526,673 shares of the company's stock valued at $187,495,000 after purchasing an additional 4,487,654 shares during the period. Boston Partners purchased a new stake in Maplebear during the 4th quarter worth about $111,506,000. Federated Hermes Inc. boosted its stake in Maplebear by 22.9% in the 4th quarter. Federated Hermes Inc. now owns 2,462,264 shares of the company's stock worth $102,035,000 after purchasing an additional 458,243 shares during the period. Finally, Norges Bank purchased a new stake in shares of Maplebear in the fourth quarter worth about $95,162,000. Hedge funds and other institutional investors own 63.09% of the company's stock.

Maplebear Stock Down 1.3 %

CART stock traded down $0.55 during mid-day trading on Thursday, hitting $41.46. 1,395,325 shares of the company were exchanged, compared to its average volume of 4,042,611. Maplebear Inc. has a 12-month low of $29.84 and a 12-month high of $53.44. The business has a fifty day simple moving average of $41.48 and a 200-day simple moving average of $43.55. The firm has a market capitalization of $10.88 billion, a P/E ratio of 27.79, a PEG ratio of 1.19 and a beta of 1.20.

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

Analyst Upgrades and Downgrades

Several research firms recently weighed in on CART. JMP Securities restated a "market outperform" rating and issued a $55.00 price objective on shares of Maplebear in a research report on Friday, April 11th. Macquarie lifted their price objective on Maplebear from $52.00 to $55.00 and gave the company an "outperform" rating in a research report on Thursday, February 27th. BTIG Research raised Maplebear from a "neutral" rating to a "buy" rating and set a $58.00 price target on the stock in a research note on Tuesday, January 14th. FBN Securities initiated coverage on Maplebear in a research report on Friday, March 28th. They set a "sector perform" rating and a $44.00 price objective for the company. Finally, Wedbush lowered their price target on Maplebear from $48.00 to $46.00 and set a "neutral" rating for the company in a research 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 given a strong buy rating to the stock. Based on data from MarketBeat.com, Maplebear presently has a consensus rating of "Moderate Buy" and a consensus target price of $50.48.

Insider Activity

In other Maplebear news, General Counsel Morgan Fong sold 5,249 shares of Maplebear stock in a transaction on Monday, April 21st. The shares were sold at an average price of $42.57, for a total value of $223,449.93. Following the transaction, the general counsel now directly owns 484,292 shares in the company, valued at approximately $20,616,310.44. The trade was a 1.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Fidji Simo sold 8,133 shares of the business's stock in a transaction that occurred on Monday, April 14th. The shares were sold at an average price of $41.60, for a total value of $338,332.80. Following the completion of the transaction, the chief executive officer now directly owns 1,646,426 shares in the company, valued at approximately $68,491,321.60. The trade was a 0.49 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 36,165 shares of company stock worth $1,541,785. 26.00% of the stock is currently owned by insiders.

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.