Maplebear Inc. $CART Shares Sold by Aviva PLC

Aviva PLC trimmed its holdings in shares of Maplebear Inc. (NASDAQ:CART) by 27.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,473 shares of the company’s stock after selling 4,004 shares during the period. Aviva PLC’s holdings in Maplebear were worth $474,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of Maplebear by 3.4% during the 1st quarter. Vanguard Group Inc. now owns 16,514,830 shares of the company’s stock worth $658,777,000 after purchasing an additional 546,472 shares in the last quarter. T. Rowe Price Investment Management Inc. increased its holdings in shares of Maplebear by 10.2% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 5,226,979 shares of the company’s stock valued at $208,505,000 after purchasing an additional 482,327 shares in the last quarter. Altimeter Capital Management LP lifted its stake in shares of Maplebear by 31.9% in the first quarter. Altimeter Capital Management LP now owns 3,348,128 shares of the company’s stock valued at $133,557,000 after purchasing an additional 810,510 shares during the period. William Blair Investment Management LLC purchased a new stake in Maplebear during the second quarter worth about $151,364,000. Finally, Federated Hermes Inc. boosted its holdings in Maplebear by 15.0% during the first quarter. Federated Hermes Inc. now owns 2,832,384 shares of the company’s stock worth $112,984,000 after buying an additional 370,120 shares in the last quarter. 63.09% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Maplebear news, Director Fidji Simo sold 7,140 shares of Maplebear stock in a transaction on Monday, September 15th. The shares were sold at an average price of $47.30, for a total value of $337,722.00. Following the transaction, the director owned 573,807 shares in the company, valued at $27,141,071.10. This trade represents a 1.23% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Chris Rogers sold 9,259 shares of the business’s stock in a transaction on Monday, September 22nd. The shares were sold at an average price of $42.37, for a total transaction of $392,303.83. Following the sale, the chief executive officer directly owned 739,880 shares of the company’s stock, valued at $31,348,715.60. This represents a 1.24% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 27,556 shares of company stock valued at $1,179,482 over the last quarter. Company insiders own 26.00% of the company’s stock.

Maplebear Price Performance

CART opened at $41.05 on Friday. Maplebear Inc. has a 12 month low of $34.78 and a 12 month high of $53.50. The business has a 50-day moving average of $40.14 and a two-hundred day moving average of $43.89. The stock has a market capitalization of $10.78 billion, a price-to-earnings ratio of 22.56, a price-to-earnings-growth ratio of 1.32 and a beta of 1.10.

Maplebear (NASDAQ:CART) last released its earnings results on Monday, November 10th. The company reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.01. Maplebear had a net margin of 14.09% and a return on equity of 15.72%. The business had revenue of $939.00 million for the quarter, compared to analysts’ expectations of $933.76 million. During the same period last year, the company earned $0.42 earnings per share. The company’s quarterly revenue was up 10.2% on a year-over-year basis. Equities research analysts anticipate that Maplebear Inc. will post 1.43 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on CART shares. Needham & Company LLC reduced their price target on shares of Maplebear from $66.00 to $50.00 and set a “buy” rating for the company in a research report on Tuesday. Barclays raised their price objective on Maplebear from $61.00 to $65.00 and gave the company an “overweight” rating in a research note on Friday, August 8th. Mizuho started coverage on Maplebear in a research report on Tuesday, September 30th. They set a “neutral” rating and a $45.00 target price on the stock. Jefferies Financial Group dropped their price target on Maplebear from $55.00 to $43.00 and set a “hold” rating for the company in a research report on Friday, October 17th. Finally, Fox Advisors raised Maplebear from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Maplebear currently has an average rating of “Moderate Buy” and an average price target of $51.40.

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.