Vanguard Group Inc. Lowers Holdings in Maplebear Inc. $CART

Vanguard Group Inc. reduced its stake in shares of Maplebear Inc. (NASDAQ:CART) by 0.8% during the 3rd quarter, Holdings Channel.com reports. The firm owned 19,105,503 shares of the company’s stock after selling 144,391 shares during the quarter. Vanguard Group Inc. owned about 0.07% of Maplebear worth $702,318,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently modified their holdings of CART. Smartleaf Asset Management LLC grew its holdings in Maplebear by 9.6% during the second quarter. Smartleaf Asset Management LLC now owns 2,978 shares of the company’s stock worth $134,000 after acquiring an additional 261 shares during the period. Rafferty Asset Management LLC boosted its position in Maplebear by 2.5% in the 2nd quarter. Rafferty Asset Management LLC now owns 11,000 shares of the company’s stock worth $498,000 after purchasing an additional 273 shares in the last quarter. Hantz Financial Services Inc. grew its stake in shares of Maplebear by 78.6% during the 3rd quarter. Hantz Financial Services Inc. now owns 884 shares of the company’s stock worth $32,000 after purchasing an additional 389 shares during the period. ProShare Advisors LLC grew its stake in shares of Maplebear by 5.7% during the 2nd quarter. ProShare Advisors LLC now owns 7,284 shares of the company’s stock worth $330,000 after purchasing an additional 390 shares during the period. Finally, Arizona State Retirement System increased its holdings in shares of Maplebear by 0.8% during the 3rd quarter. Arizona State Retirement System now owns 50,139 shares of the company’s stock valued at $1,843,000 after purchasing an additional 393 shares in the last quarter. Hedge funds and other institutional investors own 63.09% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. Cantor Fitzgerald increased their price target on shares of Maplebear from $45.00 to $54.00 and gave the stock an “overweight” rating in a report on Thursday, January 8th. BNP Paribas Exane began coverage on Maplebear in a research note on Wednesday, January 14th. They issued an “underperform” rating and a $41.00 price target for the company. Citigroup reduced their price target on Maplebear from $65.00 to $50.00 and set a “buy” rating for the company in a report on Tuesday, November 11th. Benchmark dropped their price objective on Maplebear from $60.00 to $53.00 and set a “buy” rating on the stock in a report on Tuesday, February 10th. Finally, Stifel Nicolaus reduced their target price on Maplebear from $49.00 to $46.00 and set a “buy” rating for the company in a research note on Tuesday, January 27th. Fifteen equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, Maplebear has an average rating of “Hold” and a consensus target price of $51.38.

Insider Activity

In related news, General Counsel Morgan Fong sold 4,914 shares of the business’s stock in a transaction on Monday, December 22nd. The stock was sold at an average price of $45.21, for a total value of $222,161.94. Following the sale, the general counsel owned 404,940 shares in the company, valued at approximately $18,307,337.40. The trade was a 1.20% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 26.00% of the company’s stock.

Maplebear Stock Performance

Maplebear stock opened at $36.16 on Tuesday. The company has a market capitalization of $9.49 billion, a PE ratio of 22.74, a price-to-earnings-growth ratio of 0.55 and a beta of 1.00. Maplebear Inc. has a fifty-two week low of $32.73 and a fifty-two week high of $53.50. The firm has a 50 day moving average price of $40.15 and a 200 day moving average price of $41.27.

Maplebear Company Profile

Maplebear, Inc, doing business as Instacart, operates a leading online grocery and essentials marketplace that connects consumers, retail partners and personal shoppers through its digital platform. The company enables customers to order groceries, household items and specialty products for same-day or scheduled delivery, as well as in-store pickup. By integrating its technology with retailers’ existing inventory and point-of-sale systems, Maplebear streamlines the shopping experience and provides real-time availability and pricing.

Founded in 2012 and headquartered in San Francisco, Maplebear has grown from a regional startup to a publicly traded company listed on NASDAQ under the ticker CART.