BBR Partners LLC Cuts Position in Maplebear Inc. (NASDAQ:CART)

BBR Partners LLC trimmed its position in shares of Maplebear Inc. (NASDAQ:CART) by 30.1% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,897 shares of the company’s stock after selling 7,267 shares during the period. BBR Partners LLC’s holdings in Maplebear were worth $688,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of CART. Huntington National Bank acquired a new position in Maplebear during the 3rd quarter worth about $54,000. nVerses Capital LLC lifted its position in shares of Maplebear by 1,600.0% during the second quarter. nVerses Capital LLC now owns 1,700 shares of the company’s stock worth $55,000 after purchasing an additional 1,600 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Maplebear in the third quarter valued at approximately $74,000. Quarry LP grew its holdings in shares of Maplebear by 269.5% in the second quarter. Quarry LP now owns 3,928 shares of the company’s stock valued at $126,000 after purchasing an additional 2,865 shares in the last quarter. Finally, Watts Gwilliam & Co. LLC purchased a new stake in Maplebear during the 3rd quarter worth approximately $231,000. 63.09% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Maplebear

In other Maplebear news, General Counsel Morgan Fong sold 10,992 shares of Maplebear stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $41.38, for a total value of $454,848.96. Following the sale, the general counsel now owns 298,984 shares of the company’s stock, valued at approximately $12,371,957.92. The trade was a 3.55 % 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, CEO Fidji Simo sold 20,750 shares of the business’s stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $44.39, for a total value of $921,092.50. Following the transaction, the chief executive officer now owns 1,803,278 shares in the company, valued at $80,047,510.42. The trade was a 1.14 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 110,954 shares of company stock worth $4,890,405 in the last three months. Insiders own 36.00% of the company’s stock.

Maplebear Stock Performance

Shares of CART opened at $43.44 on Thursday. Maplebear Inc. has a fifty-two week low of $22.13 and a fifty-two week high of $50.01. The firm has a 50-day simple moving average of $43.13 and a 200-day simple moving average of $36.99. The company has a market capitalization of $11.16 billion, a price-to-earnings ratio of 29.15, a price-to-earnings-growth ratio of 1.13 and a beta of 1.12.

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

Analysts Set New Price Targets

Several analysts have recently issued reports on CART shares. Raymond James assumed coverage on Maplebear in a research note on Tuesday, September 24th. They issued a “market perform” rating on the stock. Bank of America lifted their price objective on Maplebear from $50.00 to $51.00 and gave the company a “neutral” rating in a research note on Wednesday, November 13th. Citigroup boosted their price objective on Maplebear from $44.00 to $47.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. Stifel Nicolaus lifted their price target on shares of Maplebear from $52.00 to $55.00 and gave the stock a “buy” rating in a research note on Monday, October 28th. Finally, Barclays increased their price objective on shares of Maplebear from $48.00 to $56.00 and gave the company an “overweight” rating in a research report on Wednesday, November 13th. Twelve analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $47.29.

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.