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Crestwood Capital Management L.P. Cuts Stock Holdings in Maplebear Inc. (NASDAQ:CART)

Maplebear logo with Retail/Wholesale background

Crestwood Capital Management L.P. reduced its position in shares of Maplebear Inc. (NASDAQ:CART - Free Report) by 12.4% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 447,041 shares of the company's stock after selling 63,138 shares during the quarter. Maplebear accounts for about 14.1% of Crestwood Capital Management L.P.'s investment portfolio, making the stock its biggest holding. Crestwood Capital Management L.P. owned 0.17% of Maplebear worth $18,212,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of CART. Portman Ltd bought a new stake in shares of Maplebear in the third quarter worth approximately $3,196,000. Vanguard Group Inc. grew its stake in shares of Maplebear by 239.1% in the first quarter. Vanguard Group Inc. now owns 213,496 shares of the company's stock worth $7,961,000 after acquiring an additional 150,544 shares during the period. Assenagon Asset Management S.A. bought a new stake in shares of Maplebear in the second quarter worth approximately $8,293,000. Investment House LLC bought a new stake in shares of Maplebear in the second quarter worth approximately $750,000. Finally, Eos Management L.P. grew its stake in shares of Maplebear by 98.1% in the third quarter. Eos Management L.P. now owns 31,508 shares of the company's stock worth $1,284,000 after acquiring an additional 15,600 shares during the period. 63.09% of the stock is currently owned by institutional investors.

Maplebear Stock Down 0.2 %

Maplebear stock traded down $0.07 during mid-day trading on Tuesday, reaching $43.54. 2,762,324 shares of the company's stock traded hands, compared to its average volume of 4,011,410. The company has a market cap of $11.18 billion, a price-to-earnings ratio of 29.22, a PEG ratio of 1.12 and a beta of 1.12. The stock has a 50 day moving average of $43.06 and a two-hundred day moving average of $36.94. Maplebear Inc. has a 12-month low of $22.13 and a 12-month high of $50.01.

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

Insider Activity at Maplebear

In related news, General Counsel Morgan Fong sold 8,345 shares of the company's stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $40.00, for a total transaction of $333,800.00. Following the sale, the general counsel now owns 330,886 shares of the company's stock, valued at $13,235,440. This represents a 2.46 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Alan Ramsay sold 2,247 shares of the business's stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $41.06, for a total transaction of $92,261.82. Following the transaction, the chief accounting officer now owns 89,982 shares in the company, valued at $3,694,660.92. This trade represents a 2.44 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 123,204 shares of company stock valued at $5,162,688 over the last 90 days. 36.00% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

CART has been the subject of a number of research analyst reports. Benchmark reiterated a "hold" rating on shares of Maplebear in a research note on Wednesday, August 7th. Wedbush boosted their target price on shares of Maplebear from $35.00 to $38.00 and gave the company a "neutral" rating in a research report on Wednesday, August 7th. Citigroup boosted their target price on shares of Maplebear from $44.00 to $47.00 and gave the company a "buy" rating in a research report on Thursday, August 8th. Raymond James started coverage on shares of Maplebear in a research report on Tuesday, September 24th. They set a "market perform" rating for the company. Finally, BMO Capital Markets lifted their price target on shares of Maplebear from $39.00 to $48.00 and gave the company a "market perform" rating in a report on Wednesday, November 13th. Twelve research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $47.29.

View Our Latest Stock Analysis 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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Institutional Ownership by Quarter for Maplebear (NASDAQ:CART)

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