Maplebear Inc. $CART Shares Sold by Franklin Resources Inc.

Franklin Resources Inc. lessened its position in shares of Maplebear Inc. (NASDAQ:CART) by 3.2% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 240,694 shares of the company’s stock after selling 7,913 shares during the quarter. Franklin Resources Inc. owned about 0.09% of Maplebear worth $10,889,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Sentry Investment Management LLC acquired a new stake in shares of Maplebear during the second quarter worth $391,000. Mitsubishi UFJ Trust & Banking Corp increased its stake in Maplebear by 261.8% in the 2nd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 99,868 shares of the company’s stock valued at $4,518,000 after buying an additional 72,265 shares during the period. Alpine Woods Capital Investors LLC lifted its stake in shares of Maplebear by 132.3% in the 2nd quarter. Alpine Woods Capital Investors LLC now owns 47,932 shares of the company’s stock worth $2,168,000 after acquiring an additional 27,297 shares during the period. Generate Investment Management Ltd purchased a new stake in shares of Maplebear in the second quarter valued at about $14,477,000. Finally, Geode Capital Management LLC boosted its holdings in shares of Maplebear by 6.1% in the second quarter. Geode Capital Management LLC now owns 3,099,372 shares of the company’s stock valued at $140,237,000 after acquiring an additional 178,792 shares in the last quarter. Institutional investors and hedge funds own 63.09% of the company’s stock.

Wall Street Analyst Weigh In

CART has been the topic of a number of analyst reports. Jefferies Financial Group lowered their price objective on Maplebear from $55.00 to $43.00 and set a “hold” rating on the stock in a report on Friday, October 17th. Guggenheim initiated coverage on Maplebear in a report on Wednesday, October 15th. They issued a “neutral” rating and a $40.00 price target for the company. Robert W. Baird dropped their price objective on Maplebear from $60.00 to $50.00 and set an “outperform” rating on the stock in a report on Wednesday, October 1st. Citigroup cut their price objective on Maplebear from $65.00 to $50.00 and set a “buy” rating for the company in a research report on Tuesday, November 11th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Maplebear from $65.00 to $55.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 11th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $51.40.

Maplebear Stock Performance

Shares of CART stock opened at $42.02 on Friday. The stock has a fifty day moving average price of $39.32 and a 200 day moving average price of $43.74. The stock has a market cap of $11.03 billion, a PE ratio of 23.09, a P/E/G ratio of 1.37 and a beta of 1.10. Maplebear Inc. has a 1 year low of $34.78 and a 1 year high of $53.50.

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

Insider Buying and Selling at Maplebear

In other Maplebear news, Director Fidji Simo sold 7,140 shares of Maplebear stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $47.30, for a total transaction of $337,722.00. Following the completion of the transaction, the director owned 573,807 shares in the company, valued at approximately $27,141,071.10. The trade was a 1.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, General Counsel Morgan Fong sold 3,546 shares of the company’s stock in a transaction dated Monday, October 20th. The shares were sold at an average price of $38.85, for a total transaction of $137,762.10. Following the completion of the sale, the general counsel directly owned 427,523 shares in the company, valued at $16,609,268.55. This trade represents a 0.82% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 27,556 shares of company stock worth $1,179,482. 26.00% of the stock is owned by corporate insiders.

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.