Rhumbline Advisers Sells 1,564 Shares of Maplebear Inc. (NASDAQ:CART)

Rhumbline Advisers trimmed its position in shares of Maplebear Inc. (NASDAQ:CART) by 1.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 160,093 shares of the company’s stock after selling 1,564 shares during the quarter. Rhumbline Advisers owned approximately 0.06% of Maplebear worth $6,631,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the company. Wilmington Savings Fund Society FSB acquired a new position in shares of Maplebear in the 3rd quarter worth approximately $33,000. Huntington National Bank bought a new position in Maplebear in the 3rd quarter valued at $54,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in Maplebear in the third quarter worth $74,000. Newbridge Financial Services Group Inc. bought a new stake in shares of Maplebear during the fourth quarter worth $151,000. Finally, KBC Group NV increased its stake in shares of Maplebear by 56.5% in the fourth quarter. KBC Group NV now owns 3,808 shares of the company’s stock valued at $158,000 after buying an additional 1,374 shares in the last quarter. Institutional investors and hedge funds own 63.09% of the company’s stock.

Maplebear Trading Down 12.3 %

CART stock opened at $42.80 on Thursday. The business’s 50-day moving average price is $46.48 and its two-hundred day moving average price is $42.68. Maplebear Inc. has a 1-year low of $29.84 and a 1-year high of $53.44. The firm has a market cap of $11.00 billion, a PE ratio of 28.72, a P/E/G ratio of 1.19 and a beta of 1.07.

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

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on CART shares. JMP Securities increased their price objective on shares of Maplebear from $42.00 to $51.00 and gave the stock a “market outperform” rating in a report on Wednesday, November 13th. Barclays increased their price target on shares of Maplebear from $56.00 to $58.00 and gave the company an “overweight” rating in a research note on Wednesday. Bank of America boosted their price objective on shares of Maplebear from $51.00 to $53.00 and gave the stock a “neutral” rating in a research report on Tuesday. Deutsche Bank Aktiengesellschaft initiated coverage on Maplebear in a research report on Tuesday, December 3rd. They issued a “hold” rating and a $37.00 price objective on the stock. Finally, BMO Capital Markets lifted their target price on Maplebear from $48.00 to $49.00 and gave the company a “market perform” rating in a research note on Wednesday. Thirteen equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $49.80.

Insiders Place Their Bets

In other news, CAO Alan Ramsay sold 2,314 shares of the stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $46.28, for a total transaction of $107,091.92. Following the transaction, the chief accounting officer now owns 85,421 shares in the company, valued at approximately $3,953,283.88. This trade 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 accessible through this link. Also, CEO Fidji Simo sold 20,750 shares of Maplebear stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $42.74, for a total value of $886,855.00. Following the sale, the chief executive officer now directly owns 1,771,993 shares of the company’s stock, valued at approximately $75,734,980.82. The trade was a 1.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 25,311 shares of company stock valued at $1,088,636 over the last 90 days. 36.00% of the stock is currently owned by insiders.

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.