Maplebear Inc. (NASDAQ:CART) Shares Sold by Worldquant Millennium Advisors LLC

Worldquant Millennium Advisors LLC lessened its position in Maplebear Inc. (NASDAQ:CART) by 48.8% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 12,860 shares of the company’s stock after selling 12,247 shares during the period. Worldquant Millennium Advisors LLC’s holdings in Maplebear were worth $524,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Huntington National Bank acquired a new position in Maplebear during the 3rd quarter worth $54,000. nVerses Capital LLC lifted its holdings in Maplebear by 1,600.0% in the second quarter. nVerses Capital LLC now owns 1,700 shares of the company’s stock worth $55,000 after purchasing an additional 1,600 shares during the period. Mirae Asset Global Investments Co. Ltd. bought a new position in Maplebear in the 3rd quarter valued at about $74,000. Quarry LP increased its stake in Maplebear by 269.5% during the 2nd 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, Vinva Investment Management Ltd bought a new stake in shares of Maplebear during the 3rd quarter worth about $212,000. 63.09% of the stock is currently owned by institutional investors.

Maplebear Price Performance

NASDAQ CART opened at $44.19 on Monday. The firm has a market capitalization of $11.35 billion, a price-to-earnings ratio of 29.66, a price-to-earnings-growth ratio of 1.18 and a beta of 0.94. The company has a 50 day simple moving average of $43.61 and a 200-day simple moving average of $37.53. Maplebear Inc. has a 52-week low of $22.13 and a 52-week high of $50.01.

Maplebear (NASDAQ:CART) last released its earnings results 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. Maplebear had a net margin of 13.37% and a return on equity of 13.78%. The company had revenue of $852.00 million during the quarter, compared to the consensus estimate of $844.03 million. During the same quarter in the prior year, the firm earned ($20.86) EPS. The company’s revenue was up 11.5% compared to the same quarter last year. On average, analysts predict that Maplebear Inc. will post 1.4 EPS for the current year.

Insiders Place Their Bets

In other Maplebear news, CEO Fidji Simo sold 20,750 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $42.97, for a total value of $891,627.50. Following the completion of the sale, the chief executive officer now owns 1,804,243 shares of the company’s stock, valued at $77,528,321.71. The trade was a 1.14 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Morgan Fong sold 8,345 shares of the stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $40.00, for a total value of $333,800.00. Following the transaction, the general counsel now directly owns 330,886 shares in the company, valued at approximately $13,235,440. This represents a 2.46 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 110,954 shares of company stock valued at $4,890,405 over the last ninety days. Corporate insiders own 36.00% of the company’s stock.

Wall Street Analyst Weigh In

CART has been the topic of a number of research analyst reports. JPMorgan Chase & Co. raised their price objective on shares of Maplebear from $47.00 to $52.00 and gave the company an “overweight” rating in a research note on Wednesday, November 13th. Raymond James assumed coverage on Maplebear in a research report on Tuesday, September 24th. They set a “market perform” rating on the stock. BMO Capital Markets raised their target price on Maplebear from $39.00 to $48.00 and gave the company a “market perform” rating in a research note on Wednesday, November 13th. Barclays boosted their price target on shares of Maplebear from $48.00 to $56.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 13th. Finally, JMP Securities raised their price objective on shares of Maplebear from $42.00 to $51.00 and gave the company a “market outperform” rating in a research report on Wednesday, November 13th. Thirteen research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $46.82.

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.