Maplebear Inc. (NASDAQ:CART) Holdings Trimmed by Renaissance Capital LLC

Renaissance Capital LLC cut its holdings in shares of Maplebear Inc. (NASDAQ:CART - Free Report) by 17.5% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 153,189 shares of the company's stock after selling 32,404 shares during the period. Maplebear accounts for 4.2% of Renaissance Capital LLC's holdings, making the stock its 8th biggest holding. Renaissance Capital LLC owned about 0.06% of Maplebear worth $6,345,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of CART. Sei Investments Co. bought a new position in Maplebear in the second quarter worth about $825,000. The Manufacturers Life Insurance Company grew its position in shares of Maplebear by 8.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 48,646 shares of the company's stock worth $1,563,000 after buying an additional 3,770 shares during the last quarter. Algert Global LLC bought a new position in shares of Maplebear during the 2nd quarter worth approximately $301,000. Creative Planning lifted its position in Maplebear by 9.5% during the second quarter. Creative Planning now owns 9,566 shares of the company's stock valued at $307,000 after acquiring an additional 831 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Maplebear during the second quarter valued at approximately $1,575,000. 63.09% of the stock is owned by hedge funds and other institutional investors.

Maplebear Stock Up 1.3 %

NASDAQ:CART traded up $0.62 on Friday, reaching $49.21. The company's stock had a trading volume of 2,542,468 shares, compared to its average volume of 4,283,458. Maplebear Inc. has a 12-month low of $24.43 and a 12-month high of $50.11. The stock has a 50 day moving average price of $44.50 and a 200 day moving average price of $40.99. The firm has a market cap of $12.64 billion, a price-to-earnings ratio of 33.03, a price-to-earnings-growth ratio of 1.09 and a beta of 1.07.

Maplebear (NASDAQ:CART - Get Free Report) last issued its quarterly earnings data on Tuesday, November 12th. The company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.20. The firm had revenue of $852.00 million for the quarter, compared to analyst estimates 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 period in the previous year, the firm earned ($20.86) EPS. Equities research analysts expect that Maplebear Inc. will post 1.43 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on CART shares. Wells Fargo & Company assumed coverage on shares of Maplebear in a report on Friday, January 10th. They issued an "equal weight" rating and a $47.00 price target on the stock. Barclays boosted their target price on Maplebear from $48.00 to $56.00 and gave the stock an "overweight" rating in a research note on Wednesday, November 13th. Bank of America increased their price target on Maplebear from $50.00 to $51.00 and gave the company a "neutral" rating in a research note on Wednesday, November 13th. Loop Capital boosted their price target on Maplebear from $49.00 to $56.00 and gave the stock a "buy" rating in a research note on Monday, December 9th. Finally, Oppenheimer upped their price objective on shares of Maplebear from $55.00 to $60.00 and gave the company an "outperform" rating in a report on Wednesday, November 13th. Thirteen investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Maplebear has an average rating of "Moderate Buy" and an average price target of $48.96.

Insider Activity

In other Maplebear news, CAO Alan Ramsay sold 2,247 shares of Maplebear stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $41.06, for a total value of $92,261.82. Following the completion of the transaction, the chief accounting officer now directly owns 89,982 shares of the company's stock, valued at $3,694,660.92. The trade was a 2.44 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Fidji Simo sold 20,750 shares of the business's stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $42.97, for a total transaction of $891,627.50. Following the sale, the chief executive officer now owns 1,804,243 shares in the company, valued at $77,528,321.71. This trade represents a 1.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 50,555 shares of company stock valued at $2,164,787. Company insiders own 36.00% of the company's stock.

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.