Maplebear Inc. (NASDAQ:CART) Shares Sold by Tabor Asset Management LP

Tabor Asset Management LP lessened its stake in shares of Maplebear Inc. (NASDAQ:CART) by 59.2% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 27,599 shares of the company’s stock after selling 40,127 shares during the quarter. Tabor Asset Management LP’s holdings in Maplebear were worth $1,101,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the company. Proathlete Wealth Management LLC acquired a new stake in Maplebear during the first quarter valued at approximately $26,000. NewEdge Advisors LLC lifted its position in Maplebear by 277.9% in the fourth quarter. NewEdge Advisors LLC now owns 975 shares of the company’s stock worth $40,000 after purchasing an additional 717 shares during the period. UMB Bank n.a. lifted its position in Maplebear by 914.1% in the first quarter. UMB Bank n.a. now owns 1,004 shares of the company’s stock worth $40,000 after purchasing an additional 905 shares during the period. Spire Wealth Management acquired a new stake in Maplebear in the first quarter worth approximately $41,000. Finally, CWM LLC lifted its position in shares of Maplebear by 35.1% during the 1st quarter. CWM LLC now owns 1,058 shares of the company’s stock valued at $42,000 after acquiring an additional 275 shares during the last quarter. Hedge funds and other institutional investors own 63.09% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on CART shares. Wall Street Zen lowered Maplebear from a “buy” rating to a “hold” rating in a report on Friday, May 30th. Macquarie reissued an “outperform” rating and set a $55.00 target price on shares of Maplebear in a research report on Tuesday, May 6th. Wells Fargo & Company lowered their target price on shares of Maplebear from $47.00 to $44.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 3rd. Barclays increased their target price on shares of Maplebear from $58.00 to $61.00 and gave the stock an “overweight” rating in a research report on Friday, May 2nd. Finally, FBN Securities started coverage on shares of Maplebear in a research report on Friday, March 28th. They set a “sector perform” rating and a $44.00 target price on the stock. Eleven research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Maplebear currently has an average rating of “Moderate Buy” and a consensus price target of $51.95.

Maplebear Trading Up 1.2%

Shares of CART stock traded up $0.57 during trading hours on Monday, reaching $49.68. 126,564 shares of the stock were exchanged, compared to its average volume of 3,948,589. The company’s 50-day moving average price is $45.93 and its 200-day moving average price is $44.33. Maplebear Inc. has a 12-month low of $29.84 and a 12-month high of $53.44. The firm has a market capitalization of $13.04 billion, a price-to-earnings ratio of 32.75, a price-to-earnings-growth ratio of 2.07 and a beta of 1.21.

Maplebear (NASDAQ:CART) last released its quarterly earnings results on Thursday, May 1st. The company reported $0.37 EPS for the quarter, missing the consensus estimate of $0.38 by ($0.01). The firm had revenue of $897.00 million for the quarter, compared to analyst estimates of $896.86 million. Maplebear had a net margin of 12.45% and a return on equity of 14.12%. The firm’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.43 EPS. On average, sell-side analysts expect that Maplebear Inc. will post 1.43 EPS for the current year.

Insider Buying and Selling at Maplebear

In other news, CEO Fidji Simo sold 14,233 shares of the company’s stock in a transaction on Monday, July 14th. The shares were sold at an average price of $47.86, for a total value of $681,191.38. Following the completion of the transaction, the chief executive officer owned 2,032,005 shares in the company, valued at approximately $97,251,759.30. This represents a 0.70% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Levien Meredith A. Kopit sold 4,225 shares of the stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $47.45, for a total transaction of $200,476.25. Following the sale, the director owned 20,829 shares of the company’s stock, valued at approximately $988,336.05. This represents a 16.86% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 23,138 shares of company stock valued at $1,087,120. Insiders own 26.00% of the company’s stock.

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.