Maplebear Inc. (NASDAQ:CART) Shares Sold by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. lessened its stake in shares of Maplebear Inc. (NASDAQ:CART - Free Report) by 1.7% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 1,463,709 shares of the company's stock after selling 25,946 shares during the period. Charles Schwab Investment Management Inc. owned about 0.57% of Maplebear worth $60,627,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of CART. Jones Financial Companies Lllp lifted its position in shares of Maplebear by 46.6% during the 4th quarter. Jones Financial Companies Lllp now owns 698 shares of the company's stock valued at $29,000 after acquiring an additional 222 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of Maplebear during the 3rd quarter valued at $33,000. Allworth Financial LP lifted its position in shares of Maplebear by 101.4% during the 4th quarter. Allworth Financial LP now owns 834 shares of the company's stock valued at $37,000 after acquiring an additional 420 shares during the last quarter. Huntington National Bank purchased a new stake in shares of Maplebear in the third quarter valued at $54,000. Finally, Newbridge Financial Services Group Inc. purchased a new stake in shares of Maplebear in the fourth quarter valued at $151,000. Institutional investors and hedge funds own 63.09% of the company's stock.

Maplebear Price Performance

Maplebear stock opened at $38.80 on Thursday. Maplebear Inc. has a one year low of $29.84 and a one year high of $53.44. The company's fifty day moving average price is $45.79 and its two-hundred day moving average price is $43.09. The company has a market capitalization of $10.27 billion, a price-to-earnings ratio of 26.04, a PEG ratio of 1.19 and a beta of 1.34.

Remove Ads

Maplebear (NASDAQ:CART - Get Free Report) last released its quarterly 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. Maplebear had a net margin of 13.37% and a return on equity of 13.78%. The company had revenue of $883.00 million during the quarter, compared to analysts' expectations of $889.98 million. As a group, sell-side analysts anticipate that Maplebear Inc. will post 1.43 earnings per share for the current year.

Insider Buying and Selling at Maplebear

In related news, CAO Alan Ramsay sold 2,314 shares of the stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $46.28, for a total value of $107,091.92. Following the completion of the sale, the chief accounting officer now owns 85,421 shares in the company, valued at approximately $3,953,283.88. This trade represents a 2.64 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Fidji Simo sold 20,750 shares of the stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $42.74, for a total transaction of $886,855.00. Following the completion of the sale, the chief executive officer now owns 1,771,993 shares of the company's stock, valued at approximately $75,734,980.82. The trade was a 1.16 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 46,061 shares of company stock worth $1,987,318 over the last ninety days. Company insiders own 36.00% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on CART. Needham & Company LLC restated a "buy" rating and issued a $56.00 target price on shares of Maplebear in a report on Wednesday, February 26th. JPMorgan Chase & Co. reduced their target price on Maplebear from $52.00 to $50.00 and set an "overweight" rating for the company in a report on Wednesday, February 26th. Deutsche Bank Aktiengesellschaft began coverage on Maplebear in a report on Tuesday, December 3rd. They issued a "hold" rating and a $37.00 target price for the company. Loop Capital reduced their target price on Maplebear from $56.00 to $52.00 and set a "buy" rating for the company in a report on Thursday, March 6th. Finally, Seaport Res Ptn upgraded Maplebear to a "strong-buy" rating in a report on Wednesday, February 12th. Thirteen investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Maplebear presently has a consensus rating of "Moderate Buy" and an average price target of $50.21.

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.

Want to see what other hedge funds are holding CART? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Maplebear Inc. (NASDAQ:CART - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.