Geode Capital Management LLC Sells 56,320 Shares of Maplebear Inc. (NASDAQ:CART)

Geode Capital Management LLC lessened its stake in shares of Maplebear Inc. (NASDAQ:CART - Free Report) by 2.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,676,418 shares of the company's stock after selling 56,320 shares during the period. Geode Capital Management LLC owned approximately 1.04% of Maplebear worth $110,893,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in shares of Maplebear by 16.8% during the fourth quarter. Vanguard Group Inc. now owns 15,968,358 shares of the company's stock valued at $661,409,000 after acquiring an additional 2,300,288 shares in the last quarter. Victory Capital Management Inc. raised its holdings in Maplebear by 11,501.2% in the fourth quarter. Victory Capital Management Inc. now owns 4,526,673 shares of the company's stock worth $187,495,000 after buying an additional 4,487,654 shares during the last quarter. Boston Partners bought a new position in shares of Maplebear in the fourth quarter worth approximately $111,506,000. State Street Corp increased its position in shares of Maplebear by 48.3% during the third quarter. State Street Corp now owns 2,552,617 shares of the company's stock valued at $103,994,000 after acquiring an additional 831,795 shares in the last quarter. Finally, Norges Bank purchased a new position in Maplebear in the 4th quarter worth approximately $95,162,000. Hedge funds and other institutional investors own 63.09% of the company's stock.

Maplebear Price Performance

Shares of NASDAQ CART traded up $0.38 during mid-day trading on Tuesday, reaching $42.18. The company's stock had a trading volume of 667,324 shares, compared to its average volume of 4,062,069. The stock has a fifty day moving average of $42.54 and a two-hundred day moving average of $43.49. The firm has a market capitalization of $11.07 billion, a PE ratio of 28.31, a P/E/G ratio of 1.19 and a beta of 1.20. Maplebear Inc. has a 52 week low of $29.84 and a 52 week high of $53.44.

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Maplebear (NASDAQ:CART - Get Free Report) last announced its quarterly earnings data 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 business had revenue of $883.00 million during the quarter, compared to analyst estimates of $889.98 million. Analysts anticipate that Maplebear Inc. will post 1.43 EPS for the current fiscal year.

Insider Buying and Selling at Maplebear

In other news, CEO Fidji Simo sold 20,750 shares of the stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $43.31, for a total transaction of $898,682.50. Following the completion of the transaction, the chief executive officer now directly owns 1,662,692 shares in the company, valued at approximately $72,011,190.52. This represents a 1.23 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Alan Ramsay sold 2,314 shares of the business's stock in a transaction on Tuesday, January 21st. The stock was 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 owns 85,421 shares in the company, valued at $3,953,283.88. This represents a 2.64 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 25,097 shares of company stock valued at $1,087,094 in the last 90 days. Insiders own 36.00% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. JPMorgan Chase & Co. reduced their target price on Maplebear from $50.00 to $44.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. Morgan Stanley upped their target price on shares of Maplebear from $44.00 to $45.00 and gave the company an "equal weight" rating in a research note on Wednesday, February 26th. JMP Securities reaffirmed a "market outperform" rating and set a $55.00 price target on shares of Maplebear in a report on Friday. Stifel Nicolaus boosted their price objective on shares of Maplebear from $56.00 to $57.00 and gave the company a "buy" rating in a report on Wednesday, February 26th. Finally, Oppenheimer dropped their target price on shares of Maplebear from $65.00 to $60.00 and set an "outperform" rating on the stock in a 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 issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $50.61.

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.