AH Capital Management L.L.C. Reduces Stock Holdings in Maplebear Inc. (NASDAQ:CART)

AH Capital Management L.L.C. cut its holdings in Maplebear Inc. (NASDAQ:CART) by 50.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,802,058 shares of the company’s stock after selling 2,802,065 shares during the quarter. Maplebear makes up about 8.6% of AH Capital Management L.L.C.’s holdings, making the stock its 5th biggest holding. AH Capital Management L.L.C. owned 1.07% of Maplebear worth $114,156,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the business. Portman Ltd bought a new position in shares of Maplebear during the third quarter valued at $3,196,000. Vanguard Group Inc. grew its holdings in shares of Maplebear by 239.1% during the first quarter. Vanguard Group Inc. now owns 213,496 shares of the company’s stock valued at $7,961,000 after buying an additional 150,544 shares during the last quarter. Assenagon Asset Management S.A. bought a new stake in shares of Maplebear during the second quarter valued at approximately $8,293,000. Investment House LLC purchased a new position in Maplebear in the 2nd quarter worth approximately $750,000. Finally, Eos Management L.P. raised its holdings in Maplebear by 98.1% in the 3rd quarter. Eos Management L.P. now owns 31,508 shares of the company’s stock worth $1,284,000 after acquiring an additional 15,600 shares during the last quarter. 63.09% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have commented on CART shares. Barclays lifted their target price on Maplebear from $48.00 to $56.00 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. Raymond James began coverage on Maplebear in a research report on Tuesday, September 24th. They issued a “market perform” rating for the company. JPMorgan Chase & Co. raised their price target on shares of Maplebear from $47.00 to $52.00 and gave the company an “overweight” rating in a report on Wednesday, November 13th. Oppenheimer boosted their price objective on shares of Maplebear from $55.00 to $60.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Finally, Macquarie lifted their target price on shares of Maplebear from $50.00 to $52.00 and gave the stock an “outperform” rating in a research report on Thursday, November 14th. Twelve investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $47.29.

Maplebear Stock Down 0.2 %

Shares of Maplebear stock opened at $43.54 on Wednesday. The stock’s 50-day simple moving average is $43.06 and its 200-day simple moving average is $36.94. The company has a market capitalization of $11.18 billion, a price-to-earnings ratio of 29.22, a PEG ratio of 1.13 and a beta of 1.12. Maplebear Inc. has a 52 week low of $22.13 and a 52 week high of $50.01.

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

Insider Buying and Selling

In other news, CAO Alan Ramsay sold 2,247 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $41.06, for a total transaction of $92,261.82. Following the transaction, the chief accounting officer now owns 89,982 shares of the company’s stock, valued at approximately $3,694,660.92. The trade was a 2.44 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, General Counsel Morgan Fong sold 29,253 shares of Maplebear stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $48.03, for a total transaction of $1,405,021.59. Following the transaction, the general counsel now directly owns 258,406 shares of the company’s stock, valued at $12,411,240.18. The trade was a 10.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 90,204 shares of company stock worth $3,998,778. Corporate insiders own 36.00% of the company’s stock.

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.