GSA Capital Partners LLP Sells 34,715 Shares of Maplebear Inc. (NASDAQ:CART)

GSA Capital Partners LLP lessened its holdings in Maplebear Inc. (NASDAQ:CART) by 65.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,316 shares of the company’s stock after selling 34,715 shares during the quarter. GSA Capital Partners LLP’s holdings in Maplebear were worth $746,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in CART. Sculptor Capital LP purchased a new position in shares of Maplebear in the 2nd quarter worth about $77,361,000. Federated Hermes Inc. boosted its stake in Maplebear by 102.2% in the second quarter. Federated Hermes Inc. now owns 1,734,264 shares of the company’s stock valued at $55,739,000 after acquiring an additional 876,439 shares during the last quarter. Industry Ventures L.L.C. grew its position in shares of Maplebear by 3.3% during the 2nd quarter. Industry Ventures L.L.C. now owns 980,458 shares of the company’s stock valued at $31,512,000 after acquiring an additional 31,175 shares during the period. Marshall Wace LLP increased its stake in shares of Maplebear by 34.1% during the 2nd quarter. Marshall Wace LLP now owns 726,582 shares of the company’s stock worth $23,352,000 after purchasing an additional 184,569 shares during the last quarter. Finally, Renaissance Technologies LLC bought a new stake in shares of Maplebear in the 2nd quarter worth approximately $22,816,000. 63.09% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Jefferies Financial Group initiated coverage on Maplebear in a research report on Wednesday, October 16th. They issued a “hold” rating and a $43.00 target price for the company. Benchmark reissued a “hold” rating on shares of Maplebear in a report on Wednesday, August 7th. JMP Securities upped their price objective on shares of Maplebear from $42.00 to $51.00 and gave the company a “market outperform” rating in a report on Wednesday, November 13th. Barclays lifted their target price on shares of Maplebear from $48.00 to $56.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. Finally, Oppenheimer boosted their price target on shares of Maplebear from $55.00 to $60.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Twelve equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $47.29.

Insider Buying and Selling at Maplebear

In related news, General Counsel Morgan Fong sold 8,345 shares of the firm’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $40.00, for a total transaction of $333,800.00. Following the transaction, the general counsel now directly owns 330,886 shares of the company’s stock, valued at approximately $13,235,440. This trade represents a 2.46 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Fidji Simo sold 33,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $35.27, for a total value of $1,163,910.00. Following the completion of the sale, the chief executive officer now directly owns 1,844,778 shares of the company’s stock, valued at approximately $65,065,320.06. This represents a 1.76 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 118,710 shares of company stock worth $4,978,164 over the last 90 days. Corporate insiders own 36.00% of the company’s stock.

Maplebear Price Performance

Shares of CART opened at $42.00 on Monday. Maplebear Inc. has a 1-year low of $22.13 and a 1-year high of $50.01. The company has a market capitalization of $10.79 billion, a P/E ratio of 28.19, a P/E/G ratio of 1.13 and a beta of 1.12. The firm’s 50 day simple moving average is $42.17 and its 200 day simple moving average is $36.63.

Maplebear (NASDAQ:CART) last posted its quarterly earnings data on Tuesday, November 12th. The company reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.20. Maplebear had a net margin of 13.37% and a return on equity of 13.78%. The firm had revenue of $852.00 million for the quarter, compared to analysts’ expectations of $844.03 million. During the same quarter last year, the company posted ($20.86) EPS. The business’s quarterly revenue was up 11.5% on a year-over-year basis. On average, equities analysts anticipate that Maplebear Inc. will post 1.4 earnings per share for the current year.

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.