Maplebear Inc. (NASDAQ:CART) Shares Sold by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd trimmed its stake in Maplebear Inc. (NASDAQ:CART) by 73.6% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 22,280 shares of the company’s stock after selling 62,267 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Maplebear were worth $923,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in CART. Wilmington Savings Fund Society FSB purchased a new stake in Maplebear during the 3rd quarter worth approximately $33,000. Allworth Financial LP increased its stake in Maplebear by 101.4% during the 4th quarter. Allworth Financial LP now owns 834 shares of the company’s stock worth $37,000 after buying an additional 420 shares during the period. Huntington National Bank purchased a new stake in Maplebear during the 3rd quarter worth approximately $54,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Maplebear during the 3rd quarter worth approximately $74,000. Finally, Newbridge Financial Services Group Inc. purchased a new stake in Maplebear during the 4th quarter worth approximately $151,000. 63.09% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Maplebear

In other news, CEO Fidji Simo sold 20,750 shares of the stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $42.74, for a total value of $886,855.00. Following the completion of the sale, the chief executive officer now directly owns 1,771,993 shares of the company’s stock, valued at $75,734,980.82. This represents a 1.16 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Alan Ramsay sold 2,247 shares of the stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $42.14, for a total value of $94,688.58. Following the completion of the transaction, the chief accounting officer now owns 87,735 shares in the company, valued at $3,697,152.90. This represents a 2.50 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 25,311 shares of company stock valued at $1,088,636. 36.00% of the stock is owned by insiders.

Maplebear Stock Down 4.8 %

CART stock opened at $40.74 on Friday. The company has a market capitalization of $10.47 billion, a P/E ratio of 27.34, a PEG ratio of 1.19 and a beta of 1.07. The company has a 50-day simple moving average of $46.45 and a 200 day simple moving average of $42.66. Maplebear Inc. has a fifty-two week low of $29.84 and a fifty-two week high of $53.44.

Maplebear (NASDAQ:CART) last posted its quarterly earnings data on Tuesday, February 25th. The company reported $0.53 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.16. Maplebear had a net margin of 13.37% and a return on equity of 13.78%. The business had revenue of $883.00 million during the quarter, compared to the consensus estimate of $889.98 million. Equities analysts anticipate that Maplebear Inc. will post 1.43 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have commented on CART shares. Seaport Res Ptn raised shares of Maplebear to a “strong-buy” rating in a research report on Wednesday, February 12th. Mizuho dropped their price objective on shares of Maplebear from $55.00 to $52.00 and set an “outperform” rating on the stock in a research report on Wednesday. JMP Securities increased their price objective on shares of Maplebear from $42.00 to $51.00 and gave the company a “market outperform” rating in a research report on Wednesday, November 13th. Barclays increased their price objective on shares of Maplebear from $56.00 to $58.00 and gave the company an “overweight” rating in a research report on Wednesday. Finally, Bank of America increased their price objective on shares of Maplebear from $51.00 to $53.00 and gave the company a “neutral” rating in a research report on Tuesday. Thirteen research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $49.92.

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.