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

Ieq Capital LLC reduced its position in shares of Maplebear Inc. (NASDAQ:CART) by 6.3% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 107,257 shares of the company’s stock after selling 7,253 shares during the period. Ieq Capital LLC’s holdings in Maplebear were worth $3,447,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Parallel Advisors LLC lifted its holdings in Maplebear by 139.3% in the fourth quarter. Parallel Advisors LLC now owns 1,065 shares of the company’s stock worth $25,000 after acquiring an additional 620 shares during the last quarter. Cantor Fitzgerald L. P. raised its position in shares of Maplebear by 389.5% during the 4th quarter. Cantor Fitzgerald L. P. now owns 1,850 shares of the company’s stock worth $43,000 after purchasing an additional 2,489 shares during the period. nVerses Capital LLC lifted its holdings in shares of Maplebear by 1,600.0% in the 2nd quarter. nVerses Capital LLC now owns 1,700 shares of the company’s stock worth $55,000 after purchasing an additional 1,600 shares during the last quarter. Kapitalo Investimentos Ltda acquired a new position in Maplebear during the 4th quarter valued at approximately $69,000. Finally, Amalgamated Bank bought a new position in Maplebear during the 4th quarter worth $94,000. 63.09% of the stock is currently owned by institutional investors.

Maplebear Price Performance

CART stock opened at $42.14 on Friday. Maplebear Inc. has a 12 month low of $22.13 and a 12 month high of $42.58. The firm has a 50 day simple moving average of $34.75 and a 200 day simple moving average of $34.71.

Maplebear (NASDAQ:CART) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.07. Maplebear had a negative return on equity of 49.98% and a negative net margin of 52.21%. The business had revenue of $823.00 million during the quarter, compared to analyst estimates of $806.35 million. Maplebear’s quarterly revenue was up 14.9% on a year-over-year basis. As a group, research analysts expect that Maplebear Inc. will post 1.12 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on CART shares. Cantor Fitzgerald initiated coverage on Maplebear in a research note on Thursday, September 5th. They issued an “overweight” rating and a $45.00 target price on the stock. Gordon Haskett upgraded shares of Maplebear from a “hold” rating to a “buy” rating and upped their target price for the stock from $37.00 to $45.00 in a research report on Wednesday, June 5th. Morgan Stanley lifted their price target on Maplebear from $43.00 to $45.00 and gave the company an “equal weight” rating in a report on Tuesday, July 23rd. Piper Sandler increased their price objective on Maplebear from $47.00 to $50.00 and gave the stock an “overweight” rating in a report on Wednesday, August 7th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Maplebear in a research note on Wednesday, August 7th. Eleven investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, Maplebear has a consensus rating of “Moderate Buy” and a consensus target price of $42.81.

Insider Buying and Selling at Maplebear

In other news, CEO Fidji Simo sold 33,000 shares of Maplebear stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $35.27, for a total value of $1,163,910.00. Following the transaction, the chief executive officer now directly owns 1,844,778 shares of the company’s stock, valued at $65,065,320.06. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, General Counsel Morgan Fong sold 10,992 shares of the company’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $41.38, for a total transaction of $454,848.96. Following the transaction, the general counsel now directly owns 298,984 shares of the company’s stock, valued at $12,371,957.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Fidji Simo sold 33,000 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer now owns 1,844,778 shares of the company’s stock, valued at $65,065,320.06. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 73,669 shares of company stock valued at $2,682,769. 36.00% of the stock is currently owned by corporate insiders.

Maplebear Profile

Maplebear Inc, doing business as Instacart, provides online grocery shopping services to households in North America. It sells and delivers grocery products. The company offers its services through a mobile application and website. It also provides software-as-a-service solutions to retailers. The company was incorporated in 2012 and is based in San Francisco, California.