Private Client Services LLC Decreases Stock Position in Maplebear Inc. $CART

Private Client Services LLC cut its stake in shares of Maplebear Inc. (NASDAQ:CART) by 54.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 18,412 shares of the company’s stock after selling 22,319 shares during the quarter. Private Client Services LLC’s holdings in Maplebear were worth $828,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. Royal Bank of Canada raised its holdings in Maplebear by 51.2% during the 1st quarter. Royal Bank of Canada now owns 131,789 shares of the company’s stock valued at $5,256,000 after buying an additional 44,642 shares during the last quarter. NewEdge Advisors LLC lifted its stake in Maplebear by 71.6% in the first quarter. NewEdge Advisors LLC now owns 1,673 shares of the company’s stock worth $67,000 after acquiring an additional 698 shares during the period. Jones Financial Companies Lllp lifted its stake in Maplebear by 358.5% in the first quarter. Jones Financial Companies Lllp now owns 3,200 shares of the company’s stock worth $128,000 after acquiring an additional 2,502 shares during the period. Goldman Sachs Group Inc. boosted its holdings in Maplebear by 17.4% in the first quarter. Goldman Sachs Group Inc. now owns 390,711 shares of the company’s stock valued at $15,585,000 after acquiring an additional 57,879 shares in the last quarter. Finally, Empowered Funds LLC purchased a new position in Maplebear during the 1st quarter valued at $268,000. 63.09% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Maplebear

In other Maplebear news, CAO Lisa Blackwood-Kapral sold 9,390 shares of Maplebear stock in a transaction on Monday, March 16th. The stock was sold at an average price of $38.74, for a total value of $363,768.60. Following the completion of the sale, the chief accounting officer owned 47,510 shares of the company’s stock, valued at approximately $1,840,537.40. This trade represents a 16.50% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Morgan Fong sold 126,083 shares of the business’s stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of $37.09, for a total value of $4,676,418.47. Following the completion of the transaction, the general counsel owned 386,643 shares of the company’s stock, valued at $14,340,588.87. This represents a 24.59% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 140,387 shares of company stock valued at $5,262,349 in the last three months. 26.00% of the stock is owned by insiders.

Maplebear Stock Performance

Shares of CART stock opened at $36.93 on Friday. The company has a market capitalization of $8.89 billion, a price-to-earnings ratio of 23.23, a price-to-earnings-growth ratio of 0.56 and a beta of 0.98. Maplebear Inc. has a one year low of $32.73 and a one year high of $53.50. The company’s 50-day moving average is $37.42 and its 200 day moving average is $40.29.

Analyst Upgrades and Downgrades

Several research firms have recently commented on CART. Cantor Fitzgerald raised their target price on shares of Maplebear from $45.00 to $54.00 and gave the stock an “overweight” rating in a research report on Thursday, January 8th. Fox Advisors cut Maplebear from a “strong-buy” rating to a “hold” rating in a research report on Thursday, December 18th. Argus upgraded Maplebear to a “strong-buy” rating in a report on Thursday, March 5th. BNP Paribas Exane initiated coverage on Maplebear in a research note on Wednesday, January 14th. They issued an “underperform” rating and a $41.00 target price for the company. Finally, Stifel Nicolaus reduced their price target on Maplebear from $49.00 to $46.00 and set a “buy” rating on the stock in a research note on Tuesday, January 27th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, eleven have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, Maplebear presently has a consensus rating of “Hold” and a consensus target price of $51.04.

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.