Maplebear Inc. (NASDAQ:CART) Shares Sold by PDT Partners LLC

PDT Partners LLC cut its holdings in shares of Maplebear Inc. (NASDAQ:CART - Free Report) by 81.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 13,280 shares of the company's stock after selling 57,778 shares during the quarter. PDT Partners LLC's holdings in Maplebear were worth $541,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently bought and sold shares of CART. Huntington National Bank purchased a new position in Maplebear during the 3rd quarter valued at about $54,000. nVerses Capital LLC grew 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 valued at $55,000 after purchasing an additional 1,600 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Maplebear during the 3rd quarter worth approximately $74,000. Quarry LP lifted its holdings in Maplebear by 269.5% during the 2nd quarter. Quarry LP now owns 3,928 shares of the company's stock worth $126,000 after buying an additional 2,865 shares in the last quarter. Finally, Vinva Investment Management Ltd purchased a new position in Maplebear in the 3rd quarter valued at approximately $212,000. Institutional investors and hedge funds own 63.09% of the company's stock.

Insider Activity at Maplebear

In other Maplebear news, General Counsel Morgan Fong sold 10,992 shares of the business's stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $41.38, for a total transaction of $454,848.96. Following the completion of the transaction, the general counsel now directly owns 298,984 shares of the company's stock, valued at $12,371,957.92. The trade was a 3.55 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Alan Ramsay sold 2,559 shares of the firm's stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $42.97, for a total transaction of $109,960.23. Following the completion of the sale, the chief accounting officer now owns 96,666 shares in the company, valued at $4,153,738.02. The trade was a 2.58 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 110,954 shares of company stock valued at $4,890,405. Corporate insiders own 36.00% of the company's stock.

Maplebear Price Performance

CART traded up $0.19 during trading on Tuesday, hitting $43.70. The company had a trading volume of 2,421,295 shares, compared to its average volume of 4,577,560. The company has a market cap of $11.23 billion, a PE ratio of 29.33, a P/E/G ratio of 1.13 and a beta of 0.94. Maplebear Inc. has a 1-year low of $22.13 and a 1-year high of $50.01. The business has a 50-day moving average of $43.33 and a 200-day moving average of $37.28.

Maplebear (NASDAQ:CART - Get Free Report) last issued its quarterly 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 net margin of 13.37% and a return on equity of 13.78%. The business had revenue of $852.00 million for the quarter, compared to analysts' expectations of $844.03 million. During the same quarter last year, the company posted ($20.86) earnings per share. The company's quarterly revenue was up 11.5% compared to the same quarter last year. Research analysts forecast that Maplebear Inc. will post 1.4 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Oppenheimer raised their price target on Maplebear from $55.00 to $60.00 and gave the company an "outperform" rating in a research note on Wednesday, November 13th. Raymond James initiated coverage on shares of Maplebear in a research report on Tuesday, September 24th. They set a "market perform" rating for the company. BMO Capital Markets lifted their target price on Maplebear from $39.00 to $48.00 and gave the stock a "market perform" rating in a research report on Wednesday, November 13th. Piper Sandler upped their target price on Maplebear from $50.00 to $58.00 and gave the company an "overweight" rating in a research report on Wednesday, November 13th. Finally, Barclays lifted their price target on Maplebear from $48.00 to $56.00 and gave the stock an "overweight" rating in a research report on Wednesday, November 13th. Thirteen analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Maplebear currently has an average rating of "Moderate Buy" and an average target price of $46.82.

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.