Maplebear Inc. (NASDAQ:CART) Shares Sold by Shannon River Fund Management LLC

Shannon River Fund Management LLC trimmed its holdings in Maplebear Inc. (NASDAQ:CART - Free Report) by 6.0% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 414,065 shares of the company's stock after selling 26,271 shares during the period. Maplebear makes up about 2.5% of Shannon River Fund Management LLC's holdings, making the stock its 11th largest holding. Shannon River Fund Management LLC owned approximately 0.16% of Maplebear worth $17,151,000 as of its most recent SEC filing.

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

Analysts Set New Price Targets

CART has been the subject of several research analyst reports. Seaport Res Ptn upgraded Maplebear to a "strong-buy" rating in a research report on Wednesday, February 12th. Wedbush reduced their price target on Maplebear from $48.00 to $46.00 and set a "neutral" rating on the stock in a research report on Wednesday, February 26th. JPMorgan Chase & Co. lowered their target price on shares of Maplebear from $50.00 to $44.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. Wells Fargo & Company cut their price target on Maplebear from $47.00 to $44.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 3rd. Finally, BMO Capital Markets upped their price objective on Maplebear from $48.00 to $49.00 and gave the stock a "market perform" rating in a research report on Wednesday, February 26th. Twelve research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $50.61.

Insider Activity

In other news, CAO Alan Ramsay sold 2,314 shares of the stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $46.28, for a total value of $107,091.92. Following the sale, the chief accounting officer now directly owns 85,421 shares in the company, valued at $3,953,283.88. This represents a 2.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Fidji Simo sold 20,750 shares of the firm's stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $43.31, for a total value of $898,682.50. Following the transaction, the chief executive officer now directly owns 1,662,692 shares of the company's stock, 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 sold 33,230 shares of company stock valued at $1,425,427 in the last three months. 36.00% of the stock is currently owned by company insiders.

Maplebear Stock Performance

Maplebear stock traded up $0.91 during trading hours on Friday, reaching $42.99. 5,453,705 shares of the stock were exchanged, compared to its average volume of 4,077,897. Maplebear Inc. has a 52-week low of $29.84 and a 52-week high of $53.44. The stock has a market cap of $11.29 billion, a P/E ratio of 28.85, a P/E/G ratio of 1.19 and a beta of 1.20. The firm's 50 day moving average is $41.98 and its 200 day moving average is $43.53.

Maplebear (NASDAQ:CART - Get Free Report) last announced its quarterly earnings data on Tuesday, February 25th. The company reported $0.53 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 firm had revenue of $883.00 million during the quarter, compared to the consensus estimate of $889.98 million. Equities research analysts expect that Maplebear Inc. will post 1.43 EPS for the current fiscal year.

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.