Boston Partners Sells 641,541 Shares of Maplebear Inc. (NASDAQ:CART)

Boston Partners trimmed its position in Maplebear Inc. (NASDAQ:CART) by 23.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,050,067 shares of the company’s stock after selling 641,541 shares during the period. Boston Partners owned 0.78% of Maplebear worth $81,790,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. Principal Financial Group Inc. raised its position in shares of Maplebear by 4,154.7% during the 1st quarter. Principal Financial Group Inc. now owns 372,581 shares of the company’s stock valued at $14,862,000 after buying an additional 363,824 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in Maplebear by 18.6% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,056 shares of the company’s stock worth $82,000 after purchasing an additional 322 shares during the period. Cambridge Investment Research Advisors Inc. raised its position in Maplebear by 7.6% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 6,166 shares of the company’s stock worth $246,000 after purchasing an additional 433 shares during the period. Golden State Wealth Management LLC raised its position in Maplebear by 100.0% in the 1st quarter. Golden State Wealth Management LLC now owns 1,066 shares of the company’s stock worth $43,000 after purchasing an additional 533 shares during the period. Finally, New York State Teachers Retirement System raised its position in Maplebear by 542.8% in the 1st quarter. New York State Teachers Retirement System now owns 101,720 shares of the company’s stock worth $4,058,000 after purchasing an additional 85,896 shares during the period. 63.09% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently commented on CART shares. JMP Securities lifted their target price on shares of Maplebear from $55.00 to $60.00 and gave the stock a “market outperform” rating in a research report on Friday, August 8th. Citigroup lifted their target price on shares of Maplebear from $57.00 to $65.00 and gave the stock a “buy” rating in a research report on Friday, August 8th. Bank of America boosted their price objective on shares of Maplebear from $53.00 to $58.00 and gave the company a “neutral” rating in a research report on Friday, August 8th. Wells Fargo & Company boosted their price objective on shares of Maplebear from $47.00 to $55.00 and gave the company an “equal weight” rating in a research report on Friday, August 8th. Finally, Barclays boosted their price objective on shares of Maplebear from $61.00 to $65.00 and gave the company an “overweight” rating in a research report on Friday, August 8th. Nine analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $55.33.

Insider Buying and Selling at Maplebear

In related news, Director Levien Meredith A. Kopit sold 4,225 shares of the business’s stock in a transaction dated Thursday, June 5th. The shares were 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 $988,336.05. The trade was a 16.86% 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, insider Grosvenor L.P. Gcm sold 4,864,272 shares of the business’s stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $47.75, for a total transaction of $232,268,988.00. The disclosure for this sale can be found here. Insiders have sold a total of 4,975,327 shares of company stock valued at $237,736,848 over the last three months. 26.00% of the stock is currently owned by corporate insiders.

Maplebear Price Performance

NASDAQ:CART opened at $45.11 on Thursday. Maplebear Inc. has a one year low of $31.59 and a one year high of $53.50. The company’s 50-day simple moving average is $46.88 and its 200 day simple moving average is $44.77. The firm has a market capitalization of $11.88 billion, a P/E ratio of 26.08, a PEG ratio of 1.70 and a beta of 1.21.

Maplebear (NASDAQ:CART) last posted its quarterly earnings data on Thursday, August 7th. The company reported $0.41 EPS for the quarter, topping the consensus estimate of $0.39 by $0.02. Maplebear had a net margin of 13.76% and a return on equity of 15.69%. The business had revenue of $914.00 million for the quarter, compared to analyst estimates of $896.55 million. During the same quarter in the previous year, the firm posted $0.20 earnings per share. Maplebear’s quarterly revenue was up 11.1% on a year-over-year basis. On average, equities research analysts expect that Maplebear Inc. will post 1.43 earnings per share for the current fiscal year.

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.