Maplebear Inc. $CART Stock Holdings Decreased by William Blair Investment Management LLC

William Blair Investment Management LLC reduced its holdings in shares of Maplebear Inc. (NASDAQ:CART) by 2.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,787,339 shares of the company’s stock after selling 38,687 shares during the quarter. William Blair Investment Management LLC owned approximately 0.77% of Maplebear worth $77,070,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Angeles Wealth Management LLC raised its holdings in shares of Maplebear by 3.7% in the third quarter. Angeles Wealth Management LLC now owns 4,965 shares of the company’s stock worth $214,000 after acquiring an additional 179 shares during the last quarter. Brighton Jones LLC increased its position in Maplebear by 3.2% during the 3rd quarter. Brighton Jones LLC now owns 8,286 shares of the company’s stock worth $357,000 after purchasing an additional 254 shares in the last quarter. Fifth Third Wealth Advisors LLC increased its position in Maplebear by 5.1% during the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 5,363 shares of the company’s stock worth $231,000 after purchasing an additional 260 shares in the last quarter. Wedmont Private Capital increased its position in Maplebear by 4.3% during the 3rd quarter. Wedmont Private Capital now owns 7,026 shares of the company’s stock worth $325,000 after purchasing an additional 290 shares in the last quarter. Finally, CX Institutional raised its stake in Maplebear by 91.5% in the 3rd quarter. CX Institutional now owns 944 shares of the company’s stock valued at $41,000 after purchasing an additional 451 shares during the last quarter. Institutional investors and hedge funds own 63.09% of the company’s stock.

Insider Activity at Maplebear

In other Maplebear news, CFO Emily Reuter sold 50,000 shares of the stock in a transaction that occurred on Friday, October 23rd. The shares were sold at an average price of $55.00, for a total transaction of $2,750,000.00. Following the transaction, the chief financial officer owned 599,337 shares of the company’s stock, valued at $32,963,535. This trade represents a 7.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Lisa Blackwood-Kapral sold 3,017 shares of Maplebear stock in a transaction on Tuesday, September 15th. The shares were sold at an average price of $47.08, for a total transaction of $142,040.36. Following the completion of the transaction, the chief accounting officer owned 37,715 shares in the company, valued at approximately $1,775,622.20. This trade represents a 7.41% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 309,928 shares of company stock valued at $16,121,073 over the last 90 days. 24.00% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on CART shares. Sanford C. Bernstein lowered shares of Maplebear from an “outperform” rating to a “hold” rating and upped their target price for the company from $60.00 to $65.00 in a report on Friday, October 30th. Cantor Fitzgerald downgraded shares of Maplebear from an “overweight” rating to a “hold” rating and lifted their price target for the stock from $63.00 to $65.00 in a report on Friday, October 30th. Weiss Ratings raised shares of Maplebear from a “hold (c+)” rating to a “buy (b)” rating in a research report on Monday, November 9th. Raymond James Financial downgraded shares of Maplebear from a “moderate buy” rating to a “hold” rating in a research note on Thursday, October 29th. Finally, Wedbush lowered shares of Maplebear from an “outperform” rating to a “hold” rating and raised their target price for the stock from $63.00 to $65.00 in a research report on Friday, October 30th. Seven investment analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the stock. According to data from MarketBeat, Maplebear currently has an average rating of “Hold” and an average target price of $59.12.

Maplebear Trading Up 0.7%

Shares of NASDAQ CART traded up $0.39 on Friday, reaching $58.87. 2,552,054 shares of the company traded hands, compared to its average volume of 8,346,106. Maplebear Inc. has a fifty-two week low of $32.73 and a fifty-two week high of $62.00. The company has a 50 day moving average of $50.55 and a 200 day moving average of $44.25. The stock has a market capitalization of $13.93 billion, a PE ratio of 30.66, a P/E/G ratio of 1.16 and a beta of 0.69.

Maplebear (NASDAQ:CART) last released its earnings results on Thursday, October 29th. The company reported $0.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.63 by ($0.03). Maplebear had a return on equity of 22.14% and a net margin of 11.59%. The company had revenue of $1.09 billion during the quarter, compared to analyst estimates of $1.07 billion. During the same period in the prior year, the business posted $0.42 earnings per share. Maplebear’s revenue was up 16.6% on a year-over-year basis. As a group, research analysts expect that Maplebear Inc. will post 2.28 earnings per share for the current year.

About Maplebear

Maplebear Inc., which operates as Instacart, provides an online grocery and retail marketplace in the United States and Canada. Its platform connects customers with local grocery stores and other retailers, enabling them to order products for delivery or pickup. In addition to its consumer app and website, Instacart offers retailers technology and services for online ordering, fulfillment and digital advertising. The company was founded in 2012 and is led by CEO Fidji Simo.