Y Intercept Hong Kong Ltd Lowers Stake in Maplebear Inc. (NASDAQ:CART)

Y Intercept Hong Kong Ltd lowered its position in Maplebear Inc. (NASDAQ:CART - Free Report) by 73.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 22,280 shares of the company's stock after selling 62,267 shares during the quarter. Y Intercept Hong Kong Ltd's holdings in Maplebear were worth $923,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the company. Portman Ltd acquired a new stake in shares of Maplebear in the 3rd quarter valued at $3,196,000. State Street Corp increased its holdings in Maplebear by 48.3% in the third quarter. State Street Corp now owns 2,552,617 shares of the company's stock valued at $103,994,000 after buying an additional 831,795 shares during the last quarter. Cerity Partners LLC acquired a new stake in Maplebear in the third quarter valued at $1,442,000. Charles Schwab Investment Management Inc. lifted its holdings in Maplebear by 5,191.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,489,655 shares of the company's stock worth $60,689,000 after buying an additional 1,461,501 shares during the last quarter. Finally, Zacks Investment Management purchased a new stake in Maplebear during the 3rd quarter worth about $4,853,000. Hedge funds and other institutional investors own 63.09% of the company's stock.

Maplebear Trading Down 5.4 %

Shares of CART traded down $2.21 during trading hours on Monday, reaching $38.88. The company had a trading volume of 4,432,104 shares, compared to its average volume of 4,494,143. The firm has a 50 day simple moving average of $46.43 and a 200-day simple moving average of $42.88. Maplebear Inc. has a 12-month low of $29.84 and a 12-month high of $53.44. The company has a market capitalization of $9.99 billion, a price-to-earnings ratio of 26.09, a PEG ratio of 1.19 and a beta of 1.07.

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

Insider Buying and Selling

In other news, CAO Alan Ramsay sold 2,247 shares of Maplebear stock in a transaction on Friday, December 20th. The stock was sold at an average price of $42.14, for a total transaction of $94,688.58. Following the completion of the transaction, the chief accounting officer now owns 87,735 shares of the company's stock, valued at $3,697,152.90. The trade was a 2.50 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Fidji Simo sold 20,750 shares of the business's stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $42.74, for a total transaction of $886,855.00. Following the completion of the sale, the chief executive officer now owns 1,771,993 shares in the company, valued at $75,734,980.82. This represents a 1.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 46,061 shares of company stock valued at $1,987,318. 36.00% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on CART. Cantor Fitzgerald reissued an "overweight" rating and set a $55.00 target price on shares of Maplebear in a research report on Wednesday, February 26th. Seaport Res Ptn raised shares of Maplebear to a "strong-buy" rating in a report on Wednesday, February 12th. Loop Capital upped their target price on shares of Maplebear from $49.00 to $56.00 and gave the company a "buy" rating in a report on Monday, December 9th. Wells Fargo & Company assumed coverage on shares of Maplebear in a research report on Friday, January 10th. They issued an "equal weight" rating and a $47.00 target price on the stock. Finally, Benchmark reissued a "hold" rating on shares of Maplebear in a research report on Wednesday, February 26th. Thirteen equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Maplebear has an average rating of "Moderate Buy" and an average price target of $49.92.

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.