Penserra Capital Management LLC Cuts Stock Position in Maplebear Inc. (NASDAQ:CART)

Penserra Capital Management LLC lowered its holdings in Maplebear Inc. (NASDAQ:CART - Free Report) by 18.7% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 94,787 shares of the company's stock after selling 21,864 shares during the period. Penserra Capital Management LLC's holdings in Maplebear were worth $3,861,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Huntington National Bank bought a new position in shares of Maplebear in the 3rd quarter worth $54,000. nVerses Capital LLC increased its stake in 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 acquiring an additional 1,600 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Maplebear during the third quarter valued at about $74,000. Quarry LP lifted its stake in Maplebear by 269.5% during 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, Watts Gwilliam & Co. LLC purchased a new position in shares of Maplebear in the 3rd quarter worth about $231,000. Institutional investors own 63.09% of the company's stock.

Maplebear Stock Down 0.2 %

Maplebear stock traded down $0.07 during trading hours on Tuesday, hitting $43.54. The stock had a trading volume of 2,760,911 shares, compared to its average volume of 4,011,404. The stock's 50-day moving average price is $42.95 and its 200-day moving average price is $36.88. Maplebear Inc. has a 12-month low of $22.13 and a 12-month high of $50.01. The stock has a market capitalization of $11.18 billion, a P/E ratio of 29.27, a price-to-earnings-growth ratio of 1.12 and a beta of 1.12.

Maplebear (NASDAQ:CART - Get Free Report) last released its quarterly earnings data 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 company had revenue of $852.00 million during the quarter, compared to the consensus estimate of $844.03 million. During the same period last year, the company earned ($20.86) EPS. Maplebear's revenue for the quarter was up 11.5% on a year-over-year basis. On average, research analysts expect that Maplebear Inc. will post 1.4 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on CART shares. JMP Securities upped their price objective on shares of Maplebear from $42.00 to $51.00 and gave the company a "market outperform" rating in a research note on Wednesday, November 13th. Oppenheimer increased their price objective on Maplebear from $55.00 to $60.00 and gave the company an "outperform" rating in a research note on Wednesday, November 13th. Wedbush lifted their target price on shares of Maplebear from $35.00 to $38.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 7th. Macquarie upped their price target on shares of Maplebear from $50.00 to $52.00 and gave the company an "outperform" rating in a report on Thursday, November 14th. Finally, Robert W. Baird boosted their price objective on shares of Maplebear from $44.00 to $51.00 and gave the company an "outperform" rating in a research report on Wednesday, November 13th. Twelve investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $47.29.

Insider Activity at Maplebear

In other Maplebear news, CEO Fidji Simo sold 33,000 shares of the stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $35.27, for a total transaction of $1,163,910.00. Following the completion of the sale, the chief executive officer now directly owns 1,844,778 shares of the company's stock, valued at $65,065,320.06. This trade represents a 1.76 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, General Counsel Morgan Fong sold 8,345 shares of the business's stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $40.00, for a total transaction of $333,800.00. Following the completion of the transaction, the general counsel now directly owns 330,886 shares in the company, valued at $13,235,440. This trade represents a 2.46 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 123,204 shares of company stock worth $5,162,688. 36.00% of the stock is owned by company insiders.

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.