Maplebear Inc. $CART Shares Sold by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. decreased its position in Maplebear Inc. (NASDAQ:CART) by 68.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 653 shares of the company’s stock after selling 1,403 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Maplebear were worth $30,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Proathlete Wealth Management LLC purchased a new stake in shares of Maplebear in the 1st quarter valued at approximately $26,000. UMB Bank n.a. increased its position in shares of Maplebear by 914.1% in the 1st quarter. UMB Bank n.a. now owns 1,004 shares of the company’s stock valued at $40,000 after purchasing an additional 905 shares during the last quarter. Brooklyn Investment Group purchased a new stake in shares of Maplebear in the 1st quarter valued at approximately $40,000. Spire Wealth Management purchased a new stake in shares of Maplebear in the 1st quarter valued at approximately $41,000. Finally, CWM LLC increased its position in shares of Maplebear by 35.1% in the 1st quarter. CWM LLC now owns 1,058 shares of the company’s stock valued at $42,000 after purchasing an additional 275 shares during the last quarter. 63.09% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO Chris Rogers sold 9,259 shares of the business’s stock in a transaction that occurred on Monday, September 22nd. The stock was sold at an average price of $42.37, for a total value of $392,303.83. Following the transaction, the chief executive officer owned 739,880 shares of the company’s stock, valued at approximately $31,348,715.60. The trade was a 1.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, General Counsel Morgan Fong sold 4,680 shares of the business’s stock in a transaction that occurred on Monday, July 21st. The shares were sold at an average price of $49.16, for a total value of $230,068.80. Following the completion of the transaction, the general counsel directly owned 452,000 shares in the company, valued at approximately $22,220,320. The trade was a 1.02% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 4,972,134 shares of company stock valued at $237,530,070. 26.00% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. JMP Securities boosted their target price on Maplebear from $55.00 to $60.00 and gave the stock a “market outperform” rating in a research note on Friday, August 8th. Weiss Ratings restated a “hold (c)” rating on shares of Maplebear in a research note on Saturday, September 27th. Needham & Company LLC boosted their target price on Maplebear from $56.00 to $66.00 and gave the stock a “buy” rating in a research note on Friday, August 8th. Benchmark upgraded Maplebear from a “hold” rating to a “buy” rating and set a $67.00 target price for the company in a research note on Friday, August 8th. Finally, Mizuho assumed coverage on Maplebear in a research note on Tuesday, September 30th. They set a “neutral” rating and a $45.00 target price for the company. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $53.42.

Maplebear Trading Down 2.0%

Shares of NASDAQ CART opened at $38.31 on Monday. Maplebear Inc. has a twelve month low of $34.87 and a twelve month high of $53.50. The stock has a 50 day moving average of $43.87 and a two-hundred day moving average of $44.27. The stock has a market cap of $10.09 billion, a P/E ratio of 22.14, a P/E/G ratio of 1.18 and a beta of 1.10.

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

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.