Tabor Asset Management LP Has $7.03 Million Stock Holdings in Maplebear Inc. (NASDAQ:CART)

Tabor Asset Management LP lessened its holdings in shares of Maplebear Inc. (NASDAQ:CART - Free Report) by 16.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 172,636 shares of the company's stock after selling 34,288 shares during the quarter. Maplebear accounts for approximately 3.4% of Tabor Asset Management LP's holdings, making the stock its 11th largest holding. Tabor Asset Management LP owned 0.07% of Maplebear worth $7,033,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Huntington National Bank bought a new stake in shares of Maplebear in the third quarter valued at about $54,000. nVerses Capital LLC raised its holdings in Maplebear by 1,600.0% during the second quarter. nVerses Capital LLC now owns 1,700 shares of the company's stock worth $55,000 after acquiring an additional 1,600 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new stake in Maplebear during the third quarter worth about $74,000. Quarry LP raised its holdings 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 acquiring an additional 2,865 shares in the last quarter. Finally, Vinva Investment Management Ltd bought a new stake in Maplebear during the third quarter worth about $212,000. Institutional investors and hedge funds own 63.09% of the company's stock.

Maplebear Trading Down 0.3 %

NASDAQ CART traded down $0.15 on Friday, hitting $43.67. 1,946,936 shares of the company's stock were exchanged, compared to its average volume of 3,984,167. Maplebear Inc. has a 52 week low of $22.13 and a 52 week high of $50.01. The stock has a market cap of $11.22 billion, a price-to-earnings ratio of 29.41, a P/E/G ratio of 1.13 and a beta of 0.94. The stock has a 50-day moving average of $43.52 and a 200-day moving average of $37.38.

Maplebear (NASDAQ:CART - Get Free Report) last announced its quarterly earnings results on Tuesday, November 12th. The company reported $0.42 EPS for the quarter, beating analysts' consensus estimates 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 analysts' expectations of $844.03 million. During the same period in the prior year, the company earned ($20.86) EPS. Maplebear's revenue was up 11.5% compared to the same quarter last year. As a group, analysts predict that Maplebear Inc. will post 1.4 earnings per share for the current year.

Insider Activity

In other Maplebear news, CEO Fidji Simo sold 20,750 shares of the 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 completion of the sale, the chief executive officer now directly owns 1,804,243 shares in the company, valued at approximately $77,528,321.71. This trade represents a 1.14 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, General Counsel Morgan Fong sold 8,345 shares of the stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $40.00, for a total value of $333,800.00. Following the sale, the general counsel now owns 330,886 shares of the company's stock, valued at approximately $13,235,440. The trade was a 2.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 110,954 shares of company stock worth $4,890,405. Insiders own 36.00% of the company's stock.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Oppenheimer upped their target price on Maplebear from $55.00 to $60.00 and gave the stock an "outperform" rating in a report on Wednesday, November 13th. Morgan Stanley dropped their target price on Maplebear from $45.00 to $41.00 and set an "equal weight" rating on the stock in a report on Tuesday, September 24th. Bank of America upped their target price on Maplebear from $50.00 to $51.00 and gave the stock a "neutral" rating in a report on Wednesday, November 13th. Robert W. Baird boosted their price target on Maplebear from $44.00 to $51.00 and gave the stock an "outperform" rating in a research report on Wednesday, November 13th. Finally, Jefferies Financial Group assumed coverage on Maplebear in a research report on Wednesday, October 16th. They set a "hold" rating and a $43.00 price target on the stock. Thirteen investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $46.82.

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.