Wellington Management Group LLP Has $2.34 Million Position in Maplebear Inc. (NASDAQ:CART)

Wellington Management Group LLP reduced its position in Maplebear Inc. (NASDAQ:CART - Free Report) by 58.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 57,383 shares of the company's stock after selling 81,883 shares during the quarter. Wellington Management Group LLP's holdings in Maplebear were worth $2,338,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Two Sigma Advisers LP lifted its stake in Maplebear by 27.4% during the third quarter. Two Sigma Advisers LP now owns 1,657,800 shares of the company's stock worth $67,539,000 after purchasing an additional 356,700 shares during the period. State Street Corp raised its holdings in shares of Maplebear by 48.3% in the 3rd quarter. State Street Corp now owns 2,552,617 shares of the company's stock worth $103,994,000 after buying an additional 831,795 shares in the last quarter. Stifel Financial Corp lifted its position in shares of Maplebear by 10.3% during the 3rd quarter. Stifel Financial Corp now owns 25,561 shares of the company's stock worth $1,041,000 after buying an additional 2,386 shares during the period. Point72 Italy S.r.l. boosted its stake in Maplebear by 27.5% in the 3rd quarter. Point72 Italy S.r.l. now owns 217,736 shares of the company's stock valued at $8,871,000 after buying an additional 46,916 shares in the last quarter. Finally, Polar Asset Management Partners Inc. bought a new stake in Maplebear in the third quarter valued at $7,802,000. 63.09% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on CART. JPMorgan Chase & Co. lifted their price objective on Maplebear from $47.00 to $52.00 and gave the company an "overweight" rating in a report on Wednesday, November 13th. Barclays lifted their price target on shares of Maplebear from $48.00 to $56.00 and gave the company an "overweight" rating in a report on Wednesday, November 13th. JMP Securities upped their price objective on shares of Maplebear from $42.00 to $51.00 and gave the stock a "market outperform" rating in a research note on Wednesday, November 13th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $45.00 price objective on shares of Maplebear in a research report on Monday, October 7th. Finally, Oppenheimer raised their target price on Maplebear from $55.00 to $60.00 and gave the company an "outperform" rating in a research note on Wednesday, November 13th. Thirteen research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $47.14.

Insider Activity at Maplebear

In other Maplebear news, CAO Alan Ramsay sold 2,486 shares of Maplebear stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $41.39, for a total value of $102,895.54. Following the sale, the chief accounting officer now owns 99,225 shares of the company's stock, valued at $4,106,922.75. This trade represents a 2.44 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Fidji Simo sold 20,750 shares of the business's stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $44.39, for a total value of $921,092.50. Following the completion of the sale, the chief executive officer now owns 1,803,278 shares in the company, valued at approximately $80,047,510.42. This trade represents a 1.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 102,609 shares of company stock worth $4,556,605. 36.00% of the stock is owned by company insiders.

Maplebear Price Performance

Shares of NASDAQ CART traded up $0.12 during midday trading on Thursday, reaching $42.07. 6,207,364 shares of the stock were exchanged, compared to its average volume of 4,006,057. Maplebear Inc. has a 12 month low of $22.13 and a 12 month high of $50.01. The company has a market capitalization of $10.81 billion, a price-to-earnings ratio of 28.23, a P/E/G ratio of 1.08 and a beta of 0.94. The business has a 50-day simple moving average of $43.75 and a two-hundred day simple moving average of $38.08.

Maplebear (NASDAQ:CART - Get Free Report) last posted its earnings results on Tuesday, November 12th. The company reported $0.42 earnings per share 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 firm had revenue of $852.00 million for the quarter, compared to analyst estimates of $844.03 million. During the same period in the previous year, the company posted ($20.86) earnings per share. The company's revenue for the quarter was up 11.5% on a year-over-year basis. Equities research analysts expect that Maplebear Inc. will post 1.4 earnings per share for the current fiscal year.

Maplebear 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.