Alpha DNA Investment Management LLC Trims Stock Position in Maplebear Inc. (NASDAQ:CART)

Alpha DNA Investment Management LLC lessened its stake in Maplebear Inc. (NASDAQ:CART) by 15.1% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 12,606 shares of the company’s stock after selling 2,250 shares during the period. Alpha DNA Investment Management LLC’s holdings in Maplebear were worth $514,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of the stock. Huntington National Bank acquired a new position in Maplebear in the third quarter valued at approximately $54,000. nVerses Capital LLC lifted its stake in shares of Maplebear by 1,600.0% in the 2nd quarter. nVerses Capital LLC now owns 1,700 shares of the company’s stock valued at $55,000 after purchasing an additional 1,600 shares during the period. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Maplebear during the third quarter worth $74,000. Quarry LP grew 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 buying an additional 2,865 shares during the period. Finally, Watts Gwilliam & Co. LLC purchased a new position in Maplebear in the third quarter valued at $231,000. Hedge funds and other institutional investors own 63.09% of the company’s stock.

Maplebear Stock Down 0.1 %

CART stock opened at $43.22 on Friday. Maplebear Inc. has a 52-week low of $22.13 and a 52-week high of $50.01. The stock has a market cap of $11.10 billion, a price-to-earnings ratio of 29.01, a price-to-earnings-growth ratio of 1.12 and a beta of 1.12. The business has a fifty day moving average of $42.82 and a two-hundred day moving average of $36.83.

Maplebear (NASDAQ:CART) last issued its quarterly earnings data on Tuesday, November 12th. The company reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.22 by $0.20. The firm had revenue of $852.00 million during the quarter, compared to the consensus estimate of $844.03 million. Maplebear had a return on equity of 13.78% and a net margin of 13.37%. The company’s quarterly revenue was up 11.5% on a year-over-year basis. During the same period last year, the company earned ($20.86) EPS. As a group, sell-side analysts anticipate that Maplebear Inc. will post 1.4 EPS for the current year.

Insider Buying and Selling at Maplebear

In related news, CEO Fidji Simo sold 33,000 shares of the firm’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $35.27, for a total transaction of $1,163,910.00. Following the completion of the transaction, the chief executive officer now directly owns 1,844,778 shares in the company, valued at $65,065,320.06. This trade represents a 1.76 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Alan Ramsay sold 2,486 shares of Maplebear stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $41.39, for a total value of $102,895.54. Following the completion of the transaction, the chief accounting officer now directly owns 99,225 shares of the company’s stock, valued at approximately $4,106,922.75. This represents a 2.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 123,204 shares of company stock worth $5,162,688 over the last three months. Insiders own 36.00% of the company’s stock.

Analysts Set New Price Targets

CART has been the topic of several recent analyst reports. JMP Securities increased their target price on shares of Maplebear from $42.00 to $51.00 and gave the stock a “market outperform” rating in a research note on Wednesday, November 13th. Piper Sandler raised their price objective on Maplebear from $50.00 to $58.00 and gave the company an “overweight” rating in a report on Wednesday, November 13th. Bank of America boosted their price objective on Maplebear from $50.00 to $51.00 and gave the company a “neutral” rating in a research report on Wednesday, November 13th. Citigroup increased their target price on Maplebear from $44.00 to $47.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. Finally, Wedbush boosted their price target on shares of Maplebear from $35.00 to $38.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. Twelve research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $47.29.

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.