Quadrature Capital Ltd Reduces Position in Maplebear Inc. (NASDAQ:CART)

Quadrature Capital Ltd lessened its holdings in Maplebear Inc. (NASDAQ:CART - Free Report) by 71.6% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 62,336 shares of the company's stock after selling 156,826 shares during the quarter. Quadrature Capital Ltd's holdings in Maplebear were worth $2,541,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CART. Vanguard Group Inc. lifted its holdings in shares of Maplebear by 239.1% in the first quarter. Vanguard Group Inc. now owns 213,496 shares of the company's stock worth $7,961,000 after acquiring an additional 150,544 shares during the last quarter. Diversified Trust Co acquired a new stake in shares of Maplebear in the second quarter valued at about $327,000. Great Valley Advisor Group Inc. lifted its stake in shares of Maplebear by 32.1% in the second quarter. Great Valley Advisor Group Inc. now owns 10,300 shares of the company's stock worth $331,000 after acquiring an additional 2,500 shares during the period. Assenagon Asset Management S.A. bought a new stake in Maplebear in the second quarter valued at approximately $8,293,000. Finally, Investment House LLC bought a new position in Maplebear during the 2nd quarter worth approximately $750,000. Institutional investors own 63.09% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on CART. Jefferies Financial Group began coverage on shares of Maplebear in a report on Wednesday, October 16th. They issued a "hold" rating and a $43.00 target price on the stock. Bank of America boosted their price objective on Maplebear from $50.00 to $51.00 and gave the company a "neutral" rating in a research note on Wednesday, November 13th. JPMorgan Chase & Co. boosted their price objective on Maplebear from $47.00 to $52.00 and gave the company an "overweight" rating in a research note on Wednesday, November 13th. Barclays boosted their price objective on Maplebear from $48.00 to $56.00 and gave the company an "overweight" rating in a research note on Wednesday, November 13th. Finally, Cantor Fitzgerald reissued an "overweight" rating and issued a $45.00 price objective on shares of Maplebear in a research note on Monday, October 7th. 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 presently has a consensus rating of "Moderate Buy" and an average target price of $46.82.

Maplebear Price Performance

Maplebear stock traded up $0.37 during trading hours on Friday, reaching $44.19. The company had a trading volume of 3,600,178 shares, compared to its average volume of 4,677,134. The firm has a market cap of $11.35 billion, a price-to-earnings ratio of 29.66, a P/E/G ratio of 1.18 and a beta of 0.94. The company has a 50-day moving average price of $43.61 and a 200 day moving average price of $37.50. 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 announced its earnings results on Tuesday, November 12th. The company reported $0.42 EPS for the quarter, topping analysts' consensus estimates of $0.22 by $0.20. The company had revenue of $852.00 million for the quarter, compared to analysts' expectations of $844.03 million. Maplebear had a return on equity of 13.78% and a net margin of 13.37%. Maplebear's revenue for the quarter was up 11.5% compared to the same quarter last year. During the same period last year, the firm earned ($20.86) EPS. As a group, research analysts expect that Maplebear Inc. will post 1.4 earnings per share for the current year.

Insider Buying and Selling at Maplebear

In other news, CAO Alan Ramsay sold 2,247 shares of the company's stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $41.06, for a total transaction of $92,261.82. Following the sale, the chief accounting officer now directly owns 89,982 shares of the company's stock, valued at $3,694,660.92. This represents a 2.44 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Fidji Simo sold 20,750 shares of the company's stock in a transaction on Monday, November 25th. The shares were sold at an average price of $42.97, for a total transaction of $891,627.50. Following the sale, the chief executive officer now directly owns 1,804,243 shares in the company, valued at approximately $77,528,321.71. The trade was a 1.14 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 110,954 shares of company stock valued at $4,890,405 in the last three months. 36.00% of the stock is currently owned by corporate insiders.

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.