Schroder Investment Management Group Trims Position in Maplebear Inc. (NASDAQ:CART)

Schroder Investment Management Group lowered its holdings in Maplebear Inc. (NASDAQ:CART) by 94.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,959 shares of the company’s stock after selling 145,817 shares during the period. Schroder Investment Management Group’s holdings in Maplebear were worth $377,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in CART. Jones Financial Companies Lllp grew its holdings in 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 buying 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 increased its position 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 during the last quarter. Cullen Frost Bankers Inc. purchased a new position in Maplebear during the fourth quarter worth approximately $62,000. Finally, PNC Financial Services Group Inc. boosted its holdings in shares of Maplebear by 243.3% in the 4th quarter. PNC Financial Services Group Inc. now owns 3,399 shares of the company’s stock valued at $141,000 after purchasing an additional 2,409 shares during the last quarter. 63.09% of the stock is currently owned by institutional investors and hedge funds.

Maplebear Price Performance

NASDAQ CART opened at $37.12 on Wednesday. The company has a market capitalization of $9.82 billion, a price-to-earnings ratio of 24.91, a price-to-earnings-growth 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. The company’s fifty day moving average price is $43.40 and its two-hundred day moving average price is $43.50.

Maplebear (NASDAQ:CART) last issued its quarterly earnings results on Tuesday, February 25th. The company reported $0.53 EPS for the quarter, topping the consensus estimate of $0.37 by $0.16. The business had revenue of $883.00 million for the quarter, compared to analysts’ expectations of $889.98 million. Maplebear had a net margin of 13.37% and a return on equity of 13.78%. As a group, analysts anticipate that Maplebear Inc. will post 1.43 EPS for the current year.

Insider Transactions at Maplebear

In other Maplebear news, CAO Alan Ramsay sold 2,314 shares of the stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $46.28, for a total transaction of $107,091.92. Following the sale, the chief accounting officer now directly owns 85,421 shares of the company’s stock, valued at approximately $3,953,283.88. This represents a 2.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Fidji Simo sold 2,033 shares of Maplebear stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $40.00, for a total transaction of $81,320.00. Following the completion of the transaction, the chief executive officer now directly owns 1,654,559 shares of the company’s stock, valued at $66,182,360. This trade represents a 0.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 25,097 shares of company stock worth $1,087,094. 36.00% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have recently commented on CART. BTIG Research upgraded Maplebear from a “neutral” rating to a “buy” rating and set a $58.00 price objective for the company in a report on Tuesday, January 14th. Wells Fargo & Company reduced their price objective on Maplebear from $47.00 to $44.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 3rd. Oppenheimer dropped their target price on shares of Maplebear from $65.00 to $60.00 and set an “outperform” rating for the company in a research report on Wednesday, February 26th. Morgan Stanley lifted their price target on shares of Maplebear from $44.00 to $45.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 26th. Finally, Benchmark reissued a “hold” rating on shares of Maplebear in a research report on Wednesday, February 26th. Thirteen analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $49.88.

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.