Legal & General Group Plc Has $14.86 Million Stock Holdings in Maplebear Inc. $CART

Legal & General Group Plc decreased its position in Maplebear Inc. (NASDAQ:CART) by 14.9% during the 4th quarter, HoldingsChannel reports. The fund owned 330,290 shares of the company’s stock after selling 57,670 shares during the quarter. Legal & General Group Plc’s holdings in Maplebear were worth $14,856,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Allworth Financial LP grew its stake in shares of Maplebear by 35.7% during the 3rd quarter. Allworth Financial LP now owns 928 shares of the company’s stock worth $34,000 after acquiring an additional 244 shares in the last quarter. Smartleaf Asset Management LLC lifted its position in shares of Maplebear by 9.6% in the second quarter. Smartleaf Asset Management LLC now owns 2,978 shares of the company’s stock worth $134,000 after purchasing an additional 261 shares in the last quarter. Rafferty Asset Management LLC boosted its holdings in Maplebear by 2.5% during the second quarter. Rafferty Asset Management LLC now owns 11,000 shares of the company’s stock worth $498,000 after purchasing an additional 273 shares during the last quarter. Crossmark Global Holdings Inc. grew its position in Maplebear by 5.0% in the third quarter. Crossmark Global Holdings Inc. now owns 6,423 shares of the company’s stock valued at $236,000 after purchasing an additional 304 shares in the last quarter. Finally, Hantz Financial Services Inc. grew its position in Maplebear by 78.6% in the third quarter. Hantz Financial Services Inc. now owns 884 shares of the company’s stock valued at $32,000 after purchasing an additional 389 shares in the last quarter. Institutional investors and hedge funds own 63.09% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on CART. Weiss Ratings raised shares of Maplebear from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, May 11th. Raymond James Financial upgraded Maplebear from a “hold” rating to a “moderate buy” rating in a report on Thursday, April 9th. Needham & Company LLC reiterated a “buy” rating and set a $55.00 target price on shares of Maplebear in a report on Thursday, May 7th. Argus raised Maplebear to a “strong-buy” rating in a research report on Thursday, March 5th. Finally, Wall Street Zen lowered Maplebear from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Maplebear currently has an average rating of “Moderate Buy” and an average price target of $51.09.

Insider Transactions at Maplebear

In other Maplebear news, CAO Lisa Blackwood-Kapral sold 9,390 shares of the firm’s stock in a transaction that occurred on Wednesday, April 15th. The shares were sold at an average price of $40.25, for a total transaction of $377,947.50. Following the completion of the sale, the chief accounting officer directly owned 58,971 shares in the company, valued at $2,373,582.75. This trade represents a 13.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Morgan Fong sold 126,083 shares of the business’s stock in a transaction that occurred on Wednesday, March 11th. The stock was sold at an average price of $37.09, for a total value of $4,676,418.47. Following the sale, the general counsel owned 386,643 shares of the company’s stock, valued at approximately $14,340,588.87. This represents a 24.59% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 144,863 shares of company stock worth $5,418,135. 24.00% of the stock is owned by company insiders.

Maplebear Trading Down 3.5%

CART opened at $40.74 on Wednesday. The stock’s fifty day simple moving average is $40.19 and its 200 day simple moving average is $40.21. Maplebear Inc. has a 1-year low of $32.73 and a 1-year high of $53.50. The stock has a market cap of $9.58 billion, a PE ratio of 22.76, a price-to-earnings-growth ratio of 0.58 and a beta of 0.88.

Maplebear (NASDAQ:CART) last issued its quarterly earnings data on Wednesday, May 6th. The company reported $0.57 earnings per share for the quarter, missing the consensus estimate of $0.58 by ($0.01). The company had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.01 billion. Maplebear had a net margin of 12.50% and a return on equity of 18.67%. Maplebear’s revenue for the quarter was up 13.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.37 earnings per share. Equities analysts forecast that Maplebear Inc. will post 2.43 earnings per share for the current year.

Maplebear Profile

Maplebear, Inc, doing business as Instacart, operates a leading online grocery and essentials marketplace that connects consumers, retail partners and personal shoppers through its digital platform. The company enables customers to order groceries, household items and specialty products for same-day or scheduled delivery, as well as in-store pickup. By integrating its technology with retailers’ existing inventory and point-of-sale systems, Maplebear streamlines the shopping experience and provides real-time availability and pricing.

Founded in 2012 and headquartered in San Francisco, Maplebear has grown from a regional startup to a publicly traded company listed on NASDAQ under the ticker CART.