Maplebear Inc. (NASDAQ:CART) Shares Sold by Worldquant Millennium Advisors LLC

Worldquant Millennium Advisors LLC trimmed its holdings in shares of Maplebear Inc. (NASDAQ:CART - Free Report) by 48.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 12,860 shares of the company's stock after selling 12,247 shares during the period. Worldquant Millennium Advisors LLC's holdings in Maplebear were worth $524,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Huntington National Bank bought a new stake in Maplebear during the third quarter valued at about $54,000. nVerses Capital LLC increased its holdings in shares of Maplebear by 1,600.0% in the second quarter. nVerses Capital LLC now owns 1,700 shares of the company's stock worth $55,000 after purchasing an additional 1,600 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Maplebear in the third quarter worth about $74,000. Quarry LP increased its holdings in shares of Maplebear by 269.5% in the second quarter. Quarry LP now owns 3,928 shares of the company's stock worth $126,000 after purchasing an additional 2,865 shares during the last quarter. Finally, Vinva Investment Management Ltd bought a new stake in shares of Maplebear in the third quarter worth about $212,000. 63.09% of the stock is currently owned by hedge funds and other institutional investors.

Maplebear Price Performance

Shares of CART stock traded down $1.72 during trading hours on Monday, reaching $42.47. The company had a trading volume of 4,040,593 shares, compared to its average volume of 3,992,253. The business has a fifty day simple moving average of $43.61 and a 200-day simple moving average of $37.53. The company has a market cap of $10.91 billion, a price-to-earnings ratio of 28.59, a price-to-earnings-growth ratio of 1.15 and a beta of 0.94. 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 posted its earnings results on Tuesday, November 12th. The company reported $0.42 EPS for the quarter, topping the consensus estimate of $0.22 by $0.20. Maplebear had a return on equity of 13.78% and a net margin of 13.37%. The business had revenue of $852.00 million during the quarter, compared to analysts' expectations of $844.03 million. During the same period in the previous year, the business earned ($20.86) earnings per share. The firm's revenue was up 11.5% on a year-over-year basis. On average, equities research analysts expect that Maplebear Inc. will post 1.4 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Fidji Simo sold 20,750 shares of the stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $44.39, for a total value of $921,092.50. Following the completion of the transaction, the chief executive officer now owns 1,803,278 shares of the company's stock, valued at approximately $80,047,510.42. This trade represents a 1.14 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Morgan Fong sold 29,253 shares of the stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $48.03, for a total transaction of $1,405,021.59. Following the completion of the transaction, the general counsel now directly owns 258,406 shares of the company's stock, valued at approximately $12,411,240.18. The trade was a 10.17 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 110,954 shares of company stock worth $4,890,405. Company insiders own 36.00% of the company's stock.

Wall Street Analyst Weigh In

CART has been the topic of several research reports. Robert W. Baird lifted their target price on Maplebear from $44.00 to $51.00 and gave the stock an "outperform" rating in a report on Wednesday, November 13th. Piper Sandler lifted their price target on Maplebear from $50.00 to $58.00 and gave the stock an "overweight" rating in a research report on Wednesday, November 13th. Needham & Company LLC reiterated a "hold" rating on shares of Maplebear in a research report on Wednesday, November 13th. Macquarie boosted their target price on Maplebear from $50.00 to $52.00 and gave the company an "outperform" rating in a research report on Thursday, November 14th. Finally, Jefferies Financial Group started coverage on Maplebear in a research report on Wednesday, October 16th. They set a "hold" rating and a $43.00 target price for the company. Thirteen investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, Maplebear has a consensus rating of "Moderate Buy" and an average target price of $47.14.

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.