Maplebear Inc. (NASDAQ:CART) Shares Sold by Blueshift Asset Management LLC

Blueshift Asset Management LLC decreased its position in shares of Maplebear Inc. (NASDAQ:CART) by 64.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,784 shares of the company’s stock after selling 12,549 shares during the quarter. Blueshift Asset Management LLC’s holdings in Maplebear were worth $281,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of CART. Teacher Retirement System of Texas purchased a new stake in Maplebear during the fourth quarter worth $1,587,000. Investment House LLC raised its stake in shares of Maplebear by 73.1% during the 4th quarter. Investment House LLC now owns 196,665 shares of the company’s stock worth $8,146,000 after buying an additional 83,045 shares during the last quarter. Vinva Investment Management Ltd raised its stake in shares of Maplebear by 229.3% during the 4th quarter. Vinva Investment Management Ltd now owns 17,143 shares of the company’s stock worth $710,000 after buying an additional 11,937 shares during the last quarter. Xponance Inc. boosted its position in shares of Maplebear by 18.5% in the 4th quarter. Xponance Inc. now owns 7,704 shares of the company’s stock worth $319,000 after buying an additional 1,205 shares in the last quarter. Finally, Boston Partners acquired a new stake in Maplebear in the 4th quarter valued at about $111,506,000. Institutional investors and hedge funds own 63.09% of the company’s stock.

Maplebear Stock Performance

CART opened at $38.90 on Friday. The company has a market cap of $10.29 billion, a PE ratio of 26.11, a price-to-earnings-growth ratio of 1.19 and a beta of 1.34. Maplebear Inc. has a 1 year low of $29.84 and a 1 year high of $53.44. The firm has a 50 day moving average price of $45.10 and a 200 day moving average price of $43.21.

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

Analyst Ratings Changes

A number of equities analysts have issued reports on CART shares. Wells Fargo & Company started coverage on shares of Maplebear in a research report on Friday, January 10th. They set an “equal weight” rating and a $47.00 target price for the company. Seaport Res Ptn raised Maplebear to a “strong-buy” rating in a research note on Wednesday, February 12th. Wedbush dropped their price target on Maplebear from $48.00 to $46.00 and set a “neutral” rating for the company in a research report on Wednesday, February 26th. BTIG Research upgraded Maplebear from a “neutral” rating to a “buy” rating and set a $58.00 price objective on the stock in a research report on Tuesday, January 14th. Finally, Bank of America lifted their price objective on Maplebear from $51.00 to $53.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 25th. Thirteen analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Maplebear has an average rating of “Moderate Buy” and an average price target of $50.52.

Insider Buying and Selling at Maplebear

In other news, CAO Alan Ramsay sold 2,314 shares of the company’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $46.28, for a total value of $107,091.92. Following the completion of the transaction, the chief accounting officer now directly owns 85,421 shares in the company, valued at approximately $3,953,283.88. This 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 can be accessed through this link. Also, CEO Fidji Simo sold 20,750 shares of Maplebear stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $43.31, for a total transaction of $898,682.50. Following the sale, the chief executive officer now directly owns 1,662,692 shares in the company, valued at $72,011,190.52. This trade represents a 1.23 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 25,097 shares of company stock valued at $1,087,094 over the last three months. 36.00% of the stock is owned by company insiders.

Maplebear 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.