Schroder Investment Management Group Trims Stake in Maplebear Inc. (NASDAQ:CART)

Schroder Investment Management Group lowered its position in Maplebear Inc. (NASDAQ:CART - Free Report) by 94.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,959 shares of the company's stock after selling 145,817 shares during the quarter. Schroder Investment Management Group's holdings in Maplebear were worth $377,000 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. Victory Capital Management Inc. raised its position in shares of Maplebear by 11,501.2% in the 4th quarter. Victory Capital Management Inc. now owns 4,526,673 shares of the company's stock valued at $187,495,000 after buying an additional 4,487,654 shares in the last quarter. Boston Partners bought a new position in Maplebear in the 4th quarter worth $111,506,000. Vanguard Group Inc. raised its stake in shares of Maplebear by 16.8% in the fourth quarter. Vanguard Group Inc. now owns 15,968,358 shares of the company's stock worth $661,409,000 after purchasing an additional 2,300,288 shares during the last quarter. Norges Bank bought a new position in shares of Maplebear in the fourth quarter worth approximately $95,162,000. Finally, Geode Capital Management LLC lifted its holdings in shares of Maplebear by 151.7% in the 3rd quarter. Geode Capital Management LLC now owns 2,732,738 shares of the company's stock valued at $111,361,000 after acquiring an additional 1,647,081 shares during the last quarter. 63.09% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CART has been the topic of a number of recent analyst reports. Mizuho lowered their price target on Maplebear from $55.00 to $52.00 and set an "outperform" rating on the stock in a research report on Wednesday, February 26th. Morgan Stanley raised their price objective on shares of Maplebear from $44.00 to $45.00 and gave the stock an "equal weight" rating in a report on Wednesday, February 26th. Wells Fargo & Company dropped their price target on Maplebear from $47.00 to $44.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 3rd. BMO Capital Markets upped their target price on shares of Maplebear from $48.00 to $49.00 and gave the company a "market perform" rating in a research note on Wednesday, February 26th. Finally, Needham & Company LLC reissued a "buy" rating and issued a $56.00 target price on shares of Maplebear in a research note on Wednesday, February 26th. Twelve equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Maplebear currently has an average rating of "Moderate Buy" and a consensus price target of $50.61.

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Maplebear Price Performance

NASDAQ:CART traded up $0.94 during trading hours on Monday, reaching $42.11. 226,010 shares of the company were exchanged, compared to its average volume of 4,056,152. Maplebear Inc. has a 52-week low of $29.84 and a 52-week high of $53.44. The stock has a 50 day simple moving average of $42.67 and a 200 day simple moving average of $43.48. The firm has a market cap of $11.05 billion, a price-to-earnings ratio of 28.28, a PEG ratio of 1.19 and a beta of 1.20.

Maplebear (NASDAQ:CART - Get Free Report) last released its earnings results on Tuesday, February 25th. The company reported $0.53 EPS for the quarter, beating the consensus estimate of $0.37 by $0.16. The business had revenue of $883.00 million during the quarter, compared to analyst estimates of $889.98 million. Maplebear had a net margin of 13.37% and a return on equity of 13.78%. On average, analysts predict that Maplebear Inc. will post 1.43 EPS for the current fiscal year.

Insider Activity at Maplebear

In other news, CAO Alan Ramsay sold 2,314 shares of the business's stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $46.28, for a total value of $107,091.92. Following the completion of the sale, the chief accounting officer now owns 85,421 shares of the company's stock, valued at approximately $3,953,283.88. The trade was a 2.64 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Fidji Simo sold 20,750 shares of Maplebear stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $43.31, for a total value of $898,682.50. Following the sale, the chief executive officer now directly owns 1,662,692 shares in the company, valued at $72,011,190.52. The trade was a 1.23 % decrease in their ownership of the stock. 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 ninety days. 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.