Maplebear Inc. (NASDAQ:CART) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. reduced its position in shares of Maplebear Inc. (NASDAQ:CART) by 20.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,757 shares of the company’s stock after selling 2,232 shares during the period. Principal Financial Group Inc.’s holdings in Maplebear were worth $363,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. CIBC Asset Management Inc lifted its position in shares of Maplebear by 3.7% during the third quarter. CIBC Asset Management Inc now owns 8,114 shares of the company’s stock worth $331,000 after purchasing an additional 286 shares in the last quarter. Allworth Financial LP lifted its position in shares of 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 in the last quarter. Coldstream Capital Management Inc. raised its holdings in Maplebear by 1.6% in the third quarter. Coldstream Capital Management Inc. now owns 31,745 shares of the company’s stock valued at $1,294,000 after acquiring an additional 490 shares in the last quarter. Oppenheimer & Co. Inc. raised its holdings in Maplebear by 5.1% in the third quarter. Oppenheimer & Co. Inc. now owns 12,090 shares of the company’s stock valued at $493,000 after acquiring an additional 584 shares in the last quarter. Finally, Pier Capital LLC raised its holdings in Maplebear by 0.4% in the third quarter. Pier Capital LLC now owns 151,604 shares of the company’s stock valued at $6,176,000 after acquiring an additional 616 shares in the last quarter. 63.09% of the stock is owned by institutional investors and hedge funds.

Maplebear Stock Up 5.7 %

Shares of CART opened at $39.90 on Friday. The firm has a 50-day moving average price of $45.99 and a 200 day moving average price of $42.94. The firm has a market capitalization of $10.25 billion, a PE ratio of 26.78, a P/E/G ratio of 1.19 and a beta of 1.34. Maplebear Inc. has a 52-week low of $29.84 and a 52-week high of $53.44.

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

Wall Street Analysts Forecast Growth

CART has been the topic of several recent analyst reports. JMP Securities upped their price target on shares of Maplebear from $42.00 to $51.00 and gave the company a “market outperform” rating in a report on Wednesday, November 13th. Robert W. Baird upped their price target on shares of Maplebear from $44.00 to $51.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Morgan Stanley upped their price target on shares of Maplebear from $44.00 to $45.00 and gave the company an “equal weight” rating in a report on Wednesday, February 26th. Bank of America upped their price target on shares of Maplebear from $51.00 to $53.00 and gave the company a “neutral” rating in a report on Tuesday, February 25th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $55.00 price target on shares of Maplebear in a report on Wednesday, February 26th. Thirteen 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, Maplebear presently has an average rating of “Moderate Buy” and an average price target of $50.21.

Insider Buying and Selling at Maplebear

In other Maplebear news, CAO Alan Ramsay sold 2,247 shares of the firm’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $42.14, for a total value of $94,688.58. Following the completion of the transaction, the chief accounting officer now directly owns 87,735 shares in the company, valued at $3,697,152.90. This trade represents a 2.50 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Fidji Simo sold 20,750 shares of the firm’s stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $43.31, for a total transaction of $898,682.50. Following the completion of the transaction, the chief executive officer now owns 1,662,692 shares of the company’s stock, valued at approximately $72,011,190.52. The trade was a 1.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 46,061 shares of company stock valued at $1,987,318. 36.00% of the stock is owned by insiders.

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.