William Blair Investment Management LLC Cuts Stake in Maplebear Inc. $CART

William Blair Investment Management LLC decreased its holdings in Maplebear Inc. (NASDAQ:CART) by 30.1% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,220,018 shares of the company’s stock after selling 957,810 shares during the period. William Blair Investment Management LLC’s holdings in Maplebear were worth $99,856,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Hantz Financial Services Inc. boosted its stake in shares of Maplebear by 78.6% in the 3rd quarter. Hantz Financial Services Inc. now owns 884 shares of the company’s stock valued at $32,000 after purchasing an additional 389 shares in the last quarter. Allworth Financial LP boosted its stake in shares of Maplebear by 35.7% in the 3rd quarter. Allworth Financial LP now owns 928 shares of the company’s stock valued at $34,000 after purchasing an additional 244 shares in the last quarter. Abich Financial Wealth Management LLC purchased a new stake in shares of Maplebear in the 3rd quarter valued at $43,000. IFP Advisors Inc boosted its stake in shares of Maplebear by 761.3% in the 4th quarter. IFP Advisors Inc now owns 956 shares of the company’s stock valued at $43,000 after purchasing an additional 845 shares in the last quarter. Finally, Sunbelt Securities Inc. boosted its stake in shares of Maplebear by 212.7% in the 3rd quarter. Sunbelt Securities Inc. now owns 1,157 shares of the company’s stock valued at $43,000 after purchasing an additional 787 shares in the last quarter. Hedge funds and other institutional investors own 63.09% of the company’s stock.

Maplebear Stock Up 2.8%

NASDAQ:CART opened at $41.22 on Friday. The company has a fifty day moving average of $39.85 and a 200 day moving average of $40.03. Maplebear Inc. has a 52 week low of $32.73 and a 52 week high of $53.50. The firm has a market capitalization of $9.69 billion, a P/E ratio of 23.03, a P/E/G ratio of 0.57 and a beta of 0.96.

Maplebear (NASDAQ:CART) last posted its quarterly earnings results on Wednesday, May 6th. The company reported $0.57 EPS for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.01). Maplebear had a net margin of 12.50% and a return on equity of 18.67%. The firm had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.01 billion. During the same quarter in the prior year, the company earned $0.37 earnings per share. The company’s quarterly revenue was up 13.6% compared to the same quarter last year. As a group, analysts anticipate that Maplebear Inc. will post 2.43 EPS for the current year.

Insider Buying and Selling at Maplebear

In other Maplebear news, General Counsel Morgan Fong sold 126,083 shares of the company’s stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $37.09, for a total value of $4,676,418.47. Following the completion of the transaction, the general counsel directly owned 386,643 shares in the company, valued at approximately $14,340,588.87. This represents a 24.59% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Lisa Blackwood-Kapral sold 9,390 shares of the company’s stock in a transaction on Wednesday, April 15th. The stock was sold at an average price of $40.25, for a total transaction of $377,947.50. Following the completion of the transaction, the chief accounting officer owned 58,971 shares of the company’s stock, valued at $2,373,582.75. This trade represents a 13.74% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 144,863 shares of company stock valued at $5,418,135 over the last 90 days. Company insiders own 24.00% of the company’s stock.

Wall Street Analysts Forecast Growth

CART has been the subject of a number of research reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $55.00 price objective on shares of Maplebear in a research note on Thursday, May 7th. Stifel Nicolaus lowered their price target on shares of Maplebear from $49.00 to $46.00 and set a “buy” rating for the company in a report on Tuesday, January 27th. Wall Street Zen lowered shares of Maplebear from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. Barclays upped their price target on shares of Maplebear from $65.00 to $69.00 and gave the company an “overweight” rating in a report on Thursday, May 7th. Finally, Benchmark lowered their price target on shares of Maplebear from $60.00 to $53.00 and set a “buy” rating for the company in a report on Tuesday, February 10th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $51.09.

Maplebear Company Profile

Maplebear, Inc, doing business as Instacart, operates a leading online grocery and essentials marketplace that connects consumers, retail partners and personal shoppers through its digital platform. The company enables customers to order groceries, household items and specialty products for same-day or scheduled delivery, as well as in-store pickup. By integrating its technology with retailers’ existing inventory and point-of-sale systems, Maplebear streamlines the shopping experience and provides real-time availability and pricing.

Founded in 2012 and headquartered in San Francisco, Maplebear has grown from a regional startup to a publicly traded company listed on NASDAQ under the ticker CART.