Wellington Management Group LLP Has $2.34 Million Stock Holdings in Maplebear Inc. (NASDAQ:CART)

Wellington Management Group LLP lowered its stake in shares of Maplebear Inc. (NASDAQ:CART) by 58.8% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 57,383 shares of the company’s stock after selling 81,883 shares during the period. Wellington Management Group LLP’s holdings in Maplebear were worth $2,338,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of CART. Huntington National Bank acquired a new stake in Maplebear during the third quarter valued at $54,000. nVerses Capital LLC lifted its holdings in shares of Maplebear by 1,600.0% during the 2nd quarter. nVerses Capital LLC now owns 1,700 shares of the company’s stock valued at $55,000 after buying an additional 1,600 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Maplebear in the 3rd quarter valued at approximately $74,000. Quarry LP increased its holdings in Maplebear by 269.5% in the second quarter. Quarry LP now owns 3,928 shares of the company’s stock worth $126,000 after buying an additional 2,865 shares during the last quarter. Finally, Vinva Investment Management Ltd bought a new position in Maplebear during the third quarter valued at approximately $212,000. 63.09% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Maplebear

In other news, CAO Alan Ramsay sold 2,486 shares of the company’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $41.39, for a total value of $102,895.54. Following the sale, the chief accounting officer now directly owns 99,225 shares in the company, valued at approximately $4,106,922.75. This represents a 2.44 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, General Counsel Morgan Fong sold 10,992 shares of the firm’s 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 transaction, the general counsel now owns 298,984 shares of the company’s stock, valued at $12,371,957.92. This trade represents a 3.55 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 102,609 shares of company stock valued at $4,556,605 in the last 90 days. 36.00% of the stock is currently owned by company insiders.

Maplebear Stock Down 2.0 %

CART stock opened at $41.95 on Thursday. Maplebear Inc. has a twelve month low of $22.13 and a twelve month high of $50.01. The company has a market cap of $10.78 billion, a PE ratio of 28.15, a price-to-earnings-growth ratio of 1.08 and a beta of 0.94. The business’s 50-day simple moving average is $43.75 and its 200 day simple moving average is $38.08.

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

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. JPMorgan Chase & Co. boosted their target price on shares of Maplebear from $47.00 to $52.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 13th. Piper Sandler increased their target price on shares of Maplebear from $50.00 to $58.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 13th. Loop Capital boosted their price target on Maplebear from $49.00 to $56.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Macquarie upped their price target on Maplebear from $50.00 to $52.00 and gave the stock an “outperform” rating in a research note on Thursday, November 14th. Finally, Oppenheimer raised their price objective on Maplebear from $55.00 to $60.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Thirteen equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $47.14.

About Maplebear

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.