Maplebear Inc. (NASDAQ:CART) Shares Sold by Wells Fargo & Company MN

Wells Fargo & Company MN cut its stake in Maplebear Inc. (NASDAQ:CART) by 84.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 13,702 shares of the company’s stock after selling 73,045 shares during the period. Wells Fargo & Company MN’s holdings in Maplebear were worth $568,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Victory Capital Management Inc. grew its holdings in 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 acquired a new position in shares of Maplebear during the 4th quarter valued at about $111,506,000. Vanguard Group Inc. grew its holdings 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 valued at $661,409,000 after purchasing an additional 2,300,288 shares during the period. Norges Bank acquired a new stake in Maplebear during the fourth quarter worth about $95,162,000. Finally, Jupiter Asset Management Ltd. purchased a new position in Maplebear during the fourth quarter worth about $26,523,000. Institutional investors and hedge funds own 63.09% of the company’s stock.

Insider Buying and Selling

In other Maplebear news, CEO Fidji Simo sold 20,750 shares of Maplebear stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $43.31, for a total transaction of $898,682.50. Following the completion of the sale, the chief executive officer now directly owns 1,662,692 shares of the company’s stock, valued at $72,011,190.52. The trade was a 1.23 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Morgan Fong sold 5,249 shares of the stock in a transaction dated Monday, April 21st. The shares were sold at an average price of $42.57, for a total value of $223,449.93. Following the completion of the transaction, the general counsel now owns 484,292 shares in the company, valued at approximately $20,616,310.44. The trade was a 1.07 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 36,165 shares of company stock worth $1,541,785 over the last 90 days. 26.00% of the stock is owned by insiders.

Maplebear Trading Up 13.6 %

NASDAQ:CART opened at $45.22 on Friday. Maplebear Inc. has a 12-month low of $29.84 and a 12-month high of $53.44. The firm has a market cap of $11.87 billion, a PE ratio of 30.35, a price-to-earnings-growth ratio of 1.19 and a beta of 1.20. The stock has a fifty day moving average price of $40.10 and a 200 day moving average price of $43.46.

Maplebear (NASDAQ:CART) last announced its quarterly earnings data on Thursday, May 1st. The company reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.01). Maplebear had a net margin of 13.37% and a return on equity of 13.78%. The company had revenue of $897.00 million during the quarter, compared to analysts’ expectations of $896.86 million. During the same quarter in the previous year, the business posted $0.43 EPS. The business’s quarterly revenue was up 9.4% compared to the same quarter last year. Equities analysts forecast that Maplebear Inc. will post 1.43 EPS for the current year.

Analyst Ratings Changes

Several research firms have recently weighed in on CART. Oppenheimer dropped their price target on shares of Maplebear from $65.00 to $60.00 and set an “outperform” rating for the company in a research note on Wednesday, February 26th. JMP Securities reiterated a “market outperform” rating and issued a $55.00 price objective on shares of Maplebear in a report on Friday, April 11th. FBN Securities initiated coverage on Maplebear in a research note on Friday, March 28th. They set a “sector perform” rating and a $44.00 target price for the company. BMO Capital Markets upped their price target on Maplebear from $48.00 to $49.00 and gave the company a “market perform” rating in a research note on Wednesday, February 26th. Finally, Morgan Stanley increased their price target on Maplebear from $44.00 to $45.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 26th. Twelve 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 company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $50.61.

Maplebear Company 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.