Penserra Capital Management LLC Sells 21,864 Shares of Maplebear Inc. (NASDAQ:CART)

Penserra Capital Management LLC decreased its stake in Maplebear Inc. (NASDAQ:CART) by 18.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 94,787 shares of the company’s stock after selling 21,864 shares during the period. Penserra Capital Management LLC’s holdings in Maplebear were worth $3,861,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in CART. Huntington National Bank purchased a new stake in Maplebear during the third quarter valued at about $54,000. nVerses Capital LLC increased its position in shares of Maplebear by 1,600.0% during 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 last quarter. Mirae Asset Global Investments Co. Ltd. bought a new stake in Maplebear in the 3rd quarter worth approximately $74,000. Quarry LP boosted its stake in Maplebear by 269.5% in the second quarter. Quarry LP now owns 3,928 shares of the company’s stock worth $126,000 after buying an additional 2,865 shares in the last quarter. Finally, Watts Gwilliam & Co. LLC bought a new position in Maplebear during the third quarter valued at approximately $231,000. Hedge funds and other institutional investors own 63.09% of the company’s stock.

Insider Transactions at Maplebear

In other Maplebear news, CEO Fidji Simo sold 33,000 shares of the stock in a transaction on 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 sale, the chief executive officer now directly owns 1,844,778 shares in the company, valued at approximately $65,065,320.06. This trade represents a 1.76 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Alan Ramsay sold 2,247 shares of the business’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $41.06, for a total value of $92,261.82. Following the completion of the transaction, the chief accounting officer now owns 89,982 shares of the company’s stock, valued at $3,694,660.92. This represents a 2.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 123,204 shares of company stock valued at $5,162,688 in the last quarter. 36.00% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on CART shares. Morgan Stanley lowered their price objective on shares of Maplebear from $45.00 to $41.00 and set an “equal weight” rating for the company in a report on Tuesday, September 24th. Macquarie boosted their price target on shares of Maplebear from $50.00 to $52.00 and gave the stock an “outperform” rating in a research note on Thursday, November 14th. Bank of America raised their price objective on Maplebear from $50.00 to $51.00 and gave the company a “neutral” rating in a research note on Wednesday, November 13th. Citigroup boosted their target price on Maplebear from $44.00 to $47.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. Finally, Stifel Nicolaus raised their price target on Maplebear from $52.00 to $55.00 and gave the stock a “buy” rating in a research report on Monday, October 28th. Twelve research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $47.29.

Maplebear Trading Up 0.9 %

Shares of Maplebear stock opened at $43.61 on Tuesday. Maplebear Inc. has a 12 month low of $22.13 and a 12 month high of $50.01. The firm has a market capitalization of $11.20 billion, a P/E ratio of 29.27, a P/E/G ratio of 1.12 and a beta of 1.12. The business has a fifty day simple moving average of $42.95 and a two-hundred day simple moving average of $36.88.

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

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.