KPCB DGF II Associates LLC Has $109.33 Million Stock Holdings in Maplebear Inc. (NASDAQ:CART)

KPCB DGF II Associates LLC decreased its position in Maplebear Inc. (NASDAQ:CART) by 33.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,683,614 shares of the company’s stock after selling 1,342,806 shares during the period. Maplebear makes up approximately 94.5% of KPCB DGF II Associates LLC’s holdings, making the stock its biggest position. KPCB DGF II Associates LLC owned 1.01% of Maplebear worth $109,330,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in CART. nVerses Capital LLC grew its stake in shares of Maplebear by 1,600.0% in the second quarter. nVerses Capital LLC now owns 1,700 shares of the company’s stock worth $55,000 after acquiring an additional 1,600 shares during the period. Quarry LP lifted its position in Maplebear by 269.5% during the second quarter. Quarry LP now owns 3,928 shares of the company’s stock valued at $126,000 after purchasing an additional 2,865 shares in the last quarter. Oppenheimer & Co. Inc. bought a new stake in Maplebear during the first quarter valued at about $213,000. Watts Gwilliam & Co. LLC purchased a new stake in Maplebear in the third quarter worth about $231,000. Finally, CIBC Asset Management Inc bought a new position in shares of Maplebear in the second quarter worth about $252,000. 63.09% of the stock is currently owned by hedge funds and other institutional investors.

Maplebear Trading Up 0.1 %

Shares of NASDAQ:CART opened at $42.76 on Monday. The company has a market capitalization of $11.32 billion and a price-to-earnings ratio of -2.16. Maplebear Inc. has a 12 month low of $22.13 and a 12 month high of $45.01. The firm’s 50-day moving average is $37.83 and its 200 day moving average is $35.42.

Maplebear (NASDAQ:CART) last released its earnings results on Tuesday, August 6th. The company reported $0.20 EPS for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $823.00 million for the quarter, compared to analysts’ expectations of $806.35 million. The business’s quarterly revenue was up 14.9% on a year-over-year basis. As a group, equities analysts forecast that Maplebear Inc. will post 1.14 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CAO Alan Ramsay sold 2,486 shares of the business’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $41.39, for a total transaction of $102,895.54. Following the completion of the sale, the chief accounting officer now directly owns 99,225 shares of the company’s stock, valued at approximately $4,106,922.75. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Maplebear news, General Counsel Morgan Fong sold 8,345 shares of Maplebear stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $40.00, for a total transaction of $333,800.00. Following the completion of the sale, the general counsel now directly owns 330,886 shares of the company’s stock, valued at $13,235,440. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Alan Ramsay sold 2,486 shares of the stock in a transaction 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 transaction, the chief accounting officer now directly owns 99,225 shares in the company, valued at $4,106,922.75. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 54,823 shares of company stock worth $2,055,455 over the last quarter. Company insiders own 36.00% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on CART. Benchmark reiterated a “hold” rating on shares of Maplebear in a research note on Wednesday, August 7th. Jefferies Financial Group initiated coverage on Maplebear in a research note on Wednesday, October 16th. They issued a “hold” rating and a $43.00 price target for the company. Macquarie upped their price target on Maplebear from $44.00 to $45.00 and gave the stock an “outperform” rating in a research note on Thursday, August 8th. Needham & Company LLC reiterated a “hold” rating on shares of Maplebear in a report on Wednesday, August 7th. Finally, Morgan Stanley dropped their price objective on shares of Maplebear from $45.00 to $41.00 and set an “equal weight” rating for the company in a report on Tuesday, September 24th. Twelve analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $43.10.

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.