Maplebear Inc. (NASDAQ:CART) Shares Sold by Guggenheim Capital LLC

Guggenheim Capital LLC lowered its stake in Maplebear Inc. (NASDAQ:CART) by 19.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,927 shares of the company’s stock after selling 2,651 shares during the quarter. Guggenheim Capital LLC’s holdings in Maplebear were worth $453,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the stock. Jones Financial Companies Lllp raised its stake in shares of Maplebear by 46.6% in the 4th quarter. Jones Financial Companies Lllp now owns 698 shares of the company’s stock valued at $29,000 after acquiring an additional 222 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in Maplebear in the third quarter valued at approximately $33,000. Allworth Financial LP lifted its stake in Maplebear by 101.4% during the fourth quarter. Allworth Financial LP now owns 834 shares of the company’s stock worth $37,000 after purchasing an additional 420 shares in the last quarter. Cullen Frost Bankers Inc. purchased a new position in shares of Maplebear during the fourth quarter worth $62,000. Finally, PNC Financial Services Group Inc. grew its stake in shares of Maplebear by 243.3% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,399 shares of the company’s stock valued at $141,000 after buying an additional 2,409 shares in the last quarter. Hedge funds and other institutional investors own 63.09% of the company’s stock.

Maplebear Trading Up 0.6 %

Shares of Maplebear stock opened at $41.91 on Friday. The company has a fifty day simple moving average of $41.13 and a 200-day simple moving average of $43.53. The stock has a market cap of $11.00 billion, a price-to-earnings ratio of 28.13, a PEG ratio of 1.19 and a beta of 1.20. Maplebear Inc. has a 12-month low of $29.84 and a 12-month high of $53.44.

Maplebear (NASDAQ:CART) last released its quarterly earnings data on Tuesday, February 25th. The company reported $0.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.16. The company had revenue of $883.00 million during the quarter, compared to the consensus estimate of $889.98 million. Maplebear had a net margin of 13.37% and a return on equity of 13.78%. On average, analysts forecast that Maplebear Inc. will post 1.43 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Needham & Company LLC restated a “buy” rating and set a $56.00 target price on shares of Maplebear in a report on Wednesday, February 26th. Macquarie raised their price objective on shares of Maplebear from $52.00 to $55.00 and gave the company an “outperform” rating in a research note on Thursday, February 27th. Seaport Res Ptn raised shares of Maplebear to a “strong-buy” rating in a research note on Wednesday, February 12th. BMO Capital Markets increased their target price on shares of Maplebear from $48.00 to $49.00 and gave the stock a “market perform” rating in a report on Wednesday, February 26th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Maplebear from $50.00 to $44.00 and set an “overweight” rating for the company in a research note on Tuesday, April 8th. Twelve research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $50.48.

Insider Activity at Maplebear

In other news, CEO Fidji Simo sold 20,750 shares of Maplebear stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $43.31, for a total value of $898,682.50. Following the transaction, the chief executive officer now directly owns 1,662,692 shares of the company’s stock, valued at $72,011,190.52. The trade was a 1.23 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, General Counsel Morgan Fong sold 5,249 shares of the company’s stock in a transaction on Monday, April 21st. The shares were sold at an average price of $42.57, for a total transaction 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 approximately $20,616,310.44. This trade represents a 1.07 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 36,165 shares of company stock valued at $1,541,785 in the last three months. 26.00% of the stock is currently owned by company insiders.

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.