Maplebear Inc. (NASDAQ:CART) Position Lessened by Cresset Asset Management LLC

Cresset Asset Management LLC decreased its stake in Maplebear Inc. (NASDAQ:CART) by 6.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 16,396 shares of the company’s stock after selling 1,189 shares during the period. Cresset Asset Management LLC’s holdings in Maplebear were worth $679,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in CART. Wealth Enhancement Advisory Services LLC bought a new stake in shares of Maplebear in the 4th quarter worth approximately $1,166,000. Paragon Capital Management Ltd lifted its holdings in shares of Maplebear by 33.3% in the 4th quarter. Paragon Capital Management Ltd now owns 12,740 shares of the company’s stock worth $528,000 after purchasing an additional 3,185 shares during the last quarter. SG Americas Securities LLC bought a new stake in shares of Maplebear in the 4th quarter worth approximately $1,401,000. Janney Montgomery Scott LLC lifted its holdings in shares of Maplebear by 212.1% in the 4th quarter. Janney Montgomery Scott LLC now owns 23,938 shares of the company’s stock worth $992,000 after purchasing an additional 16,267 shares during the last quarter. Finally, Arkfeld Wealth Strategies L.L.C. lifted its holdings in shares of Maplebear by 70.1% in the 4th quarter. Arkfeld Wealth Strategies L.L.C. now owns 18,628 shares of the company’s stock worth $829,000 after purchasing an additional 7,680 shares during the last quarter. Institutional investors own 63.09% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on CART shares. Citigroup raised their target price on Maplebear from $55.00 to $57.00 and gave the company a “buy” rating in a research report on Tuesday. JMP Securities restated a “market outperform” rating and issued a $55.00 target price on shares of Maplebear in a research report on Friday, April 11th. Needham & Company LLC restated a “buy” rating and issued a $56.00 target price on shares of Maplebear in a research report on Friday, May 2nd. Benchmark restated a “hold” rating on shares of Maplebear in a research report on Wednesday, February 26th. Finally, Wells Fargo & Company lowered their target price on Maplebear from $47.00 to $44.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 3rd. Twelve investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Maplebear currently has a consensus rating of “Moderate Buy” and a consensus price target of $51.04.

Maplebear Stock Up 1.6%

Shares of NASDAQ CART opened at $44.31 on Wednesday. The stock has a market capitalization of $11.63 billion, a price-to-earnings ratio of 29.74, a PEG ratio of 1.19 and a beta of 1.19. The stock’s fifty day simple moving average is $40.79 and its 200 day simple moving average is $43.52. Maplebear Inc. has a 52-week low of $29.84 and a 52-week high of $53.44.

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

Insider Buying and Selling

In other news, General Counsel Morgan Fong sold 5,249 shares of the firm’s stock in a transaction on Monday, April 21st. The stock was sold at an average price of $42.57, for a total value of $223,449.93. Following the completion of the sale, the general counsel now owns 484,292 shares of the company’s stock, valued at $20,616,310.44. This trade represents a 1.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Fidji Simo sold 2,033 shares of the firm’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $40.00, for a total value of $81,320.00. Following the completion of the sale, the chief executive officer now directly owns 1,654,559 shares of the company’s stock, valued at approximately $66,182,360. This trade represents a 0.12% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 36,165 shares of company stock worth $1,541,785 in the last three months. 26.00% of the stock is currently owned by insiders.

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.