Blueshift Asset Management LLC Cuts Position in Maplebear Inc. (NASDAQ:CART)

Blueshift Asset Management LLC lessened its holdings in shares of Maplebear Inc. (NASDAQ:CART - Free Report) by 64.9% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 6,784 shares of the company's stock after selling 12,549 shares during the period. Blueshift Asset Management LLC's holdings in Maplebear were worth $281,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in CART. Jones Financial Companies Lllp grew its holdings in shares of Maplebear by 46.6% during the fourth quarter. Jones Financial Companies Lllp now owns 698 shares of the company's stock worth $29,000 after purchasing an additional 222 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in Maplebear during the 3rd quarter worth $33,000. Allworth Financial LP boosted its stake in shares of Maplebear by 101.4% during the fourth quarter. Allworth Financial LP now owns 834 shares of the company's stock worth $37,000 after buying an additional 420 shares during the period. Cullen Frost Bankers Inc. purchased a new position in shares of Maplebear during the fourth quarter worth about $62,000. Finally, PNC Financial Services Group Inc. lifted its position in Maplebear by 243.3% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,399 shares of the company's stock worth $141,000 after acquiring an additional 2,409 shares during the period. Hedge funds and other institutional investors own 63.09% of the company's stock.

Wall Street Analyst Weigh In

CART has been the topic of a number of recent research reports. Wells Fargo & Company assumed coverage on Maplebear in a report on Friday, January 10th. They issued an "equal weight" rating and a $47.00 target price on the stock. Oppenheimer dropped their price objective on shares of Maplebear from $65.00 to $60.00 and set an "outperform" rating on the stock in a research note on Wednesday, February 26th. Loop Capital reduced their target price on shares of Maplebear from $56.00 to $52.00 and set a "buy" rating for the company in a research note on Thursday, March 6th. Wedbush lowered their target price on shares of Maplebear from $48.00 to $46.00 and set a "neutral" rating on the stock in a report on Wednesday, February 26th. Finally, Needham & Company LLC reissued a "buy" rating and set a $56.00 price target on shares of Maplebear in a report on Wednesday, February 26th. Thirteen investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Maplebear has a consensus rating of "Moderate Buy" and an average price target of $50.52.

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Maplebear Price Performance

Shares of NASDAQ CART traded down $1.53 on Wednesday, hitting $40.35. The company's stock had a trading volume of 2,153,860 shares, compared to its average volume of 3,940,531. The stock has a 50 day moving average of $44.94 and a 200-day moving average of $43.44. The company has a market capitalization of $10.68 billion, a price-to-earnings ratio of 27.08, a price-to-earnings-growth ratio of 1.19 and a beta of 1.34. Maplebear Inc. has a 12-month low of $29.84 and a 12-month high of $53.44.

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

Insider Activity at Maplebear

In other news, CAO Alan Ramsay sold 2,314 shares of Maplebear stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $46.28, for a total transaction of $107,091.92. Following the completion of the sale, the chief accounting officer now directly owns 85,421 shares in the company, valued at $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 is available through the SEC website. Also, CEO Fidji Simo sold 20,750 shares of the company's stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $43.31, for a total transaction of $898,682.50. Following the transaction, the chief executive officer now directly owns 1,662,692 shares in the company, valued at $72,011,190.52. The trade was a 1.23 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 25,097 shares of company stock valued at $1,087,094 over the last quarter. Insiders own 36.00% of the company's stock.

Maplebear Company 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.