Acadian Asset Management LLC Sells 1,126,923 Shares of Maplebear Inc. $CART

Acadian Asset Management LLC cut its stake in Maplebear Inc. (NASDAQ:CART) by 91.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 108,903 shares of the company’s stock after selling 1,126,923 shares during the quarter. Acadian Asset Management LLC’s holdings in Maplebear were worth $4,340,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Proathlete Wealth Management LLC bought a new stake in Maplebear in the first quarter worth $26,000. Brooklyn Investment Group bought a new stake in Maplebear in the first quarter worth $40,000. UMB Bank n.a. lifted its position in Maplebear by 914.1% in the first quarter. UMB Bank n.a. now owns 1,004 shares of the company’s stock worth $40,000 after buying an additional 905 shares during the last quarter. Spire Wealth Management bought a new stake in Maplebear in the first quarter worth $41,000. Finally, CWM LLC lifted its position in Maplebear by 35.1% in the first quarter. CWM LLC now owns 1,058 shares of the company’s stock worth $42,000 after buying an additional 275 shares during the last quarter. 63.09% of the stock is currently owned by institutional investors.

Insider Transactions at Maplebear

In other Maplebear news, General Counsel Morgan Fong sold 4,680 shares of Maplebear stock in a transaction dated Monday, July 21st. The stock was sold at an average price of $49.16, for a total value of $230,068.80. Following the transaction, the general counsel owned 452,000 shares in the company, valued at $22,220,320. The trade was a 1.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Fidji Simo sold 6,640 shares of Maplebear stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $50.00, for a total value of $332,000.00. Following the completion of the transaction, the chief executive officer owned 1,958,805 shares in the company, valued at $97,940,250. This trade represents a 0.34% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 4,971,102 shares of company stock valued at $237,536,372. Insiders own 26.00% of the company’s stock.

Maplebear Price Performance

CART stock opened at $46.36 on Monday. The business has a 50-day moving average price of $46.82 and a 200 day moving average price of $44.05. The company has a market capitalization of $12.21 billion, a P/E ratio of 26.80, a PEG ratio of 1.55 and a beta of 1.22. Maplebear Inc. has a 1-year low of $35.14 and a 1-year high of $53.50.

Maplebear (NASDAQ:CART) last released its quarterly earnings data on Thursday, August 7th. The company reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.02. The firm had revenue of $914.00 million during the quarter, compared to the consensus estimate of $896.55 million. Maplebear had a return on equity of 15.69% and a net margin of 13.76%.The firm’s quarterly revenue was up 11.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.20 earnings per share. On average, analysts anticipate that Maplebear Inc. will post 1.43 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. JMP Securities raised their price target on Maplebear from $55.00 to $60.00 and gave the stock a “market outperform” rating in a research report on Friday, August 8th. Wedbush reiterated an “underperform” rating and set a $42.00 target price (down from $55.00) on shares of Maplebear in a research report on Thursday, August 21st. Morgan Stanley lifted their target price on Maplebear from $45.00 to $48.00 and gave the stock an “equal weight” rating in a research report on Friday, August 15th. Loop Capital lifted their target price on Maplebear from $52.00 to $58.00 and gave the stock a “buy” rating in a research report on Monday, May 19th. Finally, Needham & Company LLC lifted their target price on Maplebear from $56.00 to $66.00 and gave the stock a “buy” rating in a research report on Friday, August 8th. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Maplebear currently has an average rating of “Moderate Buy” and an average price target of $55.71.

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.