Tabor Asset Management LP Has $2.81 Million Stock Position in Maplebear Inc. (NASDAQ:CART)

Tabor Asset Management LP cut its position in Maplebear Inc. (NASDAQ:CART) by 60.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 67,726 shares of the company’s stock after selling 104,910 shares during the period. Maplebear accounts for approximately 1.3% of Tabor Asset Management LP’s investment portfolio, making the stock its 27th biggest holding. Tabor Asset Management LP’s holdings in Maplebear were worth $2,805,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in shares of Maplebear by 16.8% in the fourth quarter. Vanguard Group Inc. now owns 15,968,358 shares of the company’s stock valued at $661,409,000 after buying an additional 2,300,288 shares in the last quarter. T. Rowe Price Investment Management Inc. lifted its position in Maplebear by 15.5% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 4,744,652 shares of the company’s stock valued at $196,524,000 after acquiring an additional 635,930 shares in the last quarter. Victory Capital Management Inc. boosted its stake in Maplebear by 11,501.2% during the 4th quarter. Victory Capital Management Inc. now owns 4,526,673 shares of the company’s stock valued at $187,495,000 after purchasing an additional 4,487,654 shares during the last quarter. Jacobs Levy Equity Management Inc. increased its holdings in Maplebear by 85.0% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 3,081,847 shares of the company’s stock worth $127,650,000 after purchasing an additional 1,416,426 shares in the last quarter. Finally, Boston Partners purchased a new stake in shares of Maplebear in the fourth quarter worth approximately $111,506,000. 63.09% of the stock is owned by institutional investors.

Maplebear Price Performance

Shares of NASDAQ CART opened at $45.66 on Monday. The stock has a market capitalization of $11.99 billion, a PE ratio of 30.64, a P/E/G ratio of 1.19 and a beta of 1.19. Maplebear Inc. has a one year low of $29.84 and a one year high of $53.44. The business’s fifty day moving average price is $41.16 and its 200-day moving average price is $43.53.

Maplebear (NASDAQ:CART) last announced its quarterly earnings data on Thursday, May 1st. The company reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.01). The firm had revenue of $897.00 million during the quarter, compared to the consensus estimate of $896.86 million. Maplebear had a net margin of 13.37% and a return on equity of 13.78%. The company’s revenue was up 9.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.43 earnings per share. As a group, equities analysts expect that Maplebear Inc. will post 1.43 EPS for the current fiscal year.

Insider Transactions at Maplebear

In other Maplebear news, General Counsel Morgan Fong sold 5,249 shares of the stock in a transaction on Monday, April 21st. The stock was sold at an average price of $42.57, for a total transaction of $223,449.93. Following the sale, the general counsel now owns 484,292 shares in the company, valued at $20,616,310.44. This represents a 1.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Fidji Simo sold 20,750 shares of the firm’s stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $43.31, for a total value of $898,682.50. Following the completion of the transaction, the chief executive officer now directly owns 1,662,692 shares of the company’s stock, valued at $72,011,190.52. The trade was a 1.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 36,165 shares of company stock worth $1,541,785 over the last quarter. Corporate insiders own 26.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. JPMorgan Chase & Co. cut their target price on Maplebear from $50.00 to $44.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 8th. Wedbush cut their price objective on shares of Maplebear from $48.00 to $46.00 and set a “neutral” rating on the stock in a report on Wednesday, February 26th. Wells Fargo & Company reduced their target price on shares of Maplebear from $47.00 to $44.00 and set an “equal weight” rating for the company in a research note on Thursday, April 3rd. Cantor Fitzgerald reissued an “overweight” rating and set a $55.00 price target on shares of Maplebear in a research report on Wednesday, February 26th. Finally, Benchmark restated a “hold” rating on shares of Maplebear in a report on Wednesday, February 26th. Twelve research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Maplebear presently has an average rating of “Moderate Buy” and an average price target of $51.04.

Maplebear Company 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.