Mutual of America Capital Management LLC Sells 1,609 Shares of Maplebear Inc. $CART

Mutual of America Capital Management LLC lowered its stake in Maplebear Inc. (NASDAQ:CART) by 1.9% during the second quarter, Holdings Channel reports. The firm owned 81,689 shares of the company’s stock after selling 1,609 shares during the period. Mutual of America Capital Management LLC’s holdings in Maplebear were worth $3,696,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of CART. William Blair Investment Management LLC acquired a new stake in Maplebear in the second quarter valued at about $151,364,000. Victory Capital Management Inc. increased its holdings in Maplebear by 62.8% in the first quarter. Victory Capital Management Inc. now owns 7,368,232 shares of the company’s stock worth $293,919,000 after purchasing an additional 2,841,559 shares in the last quarter. Champlain Investment Partners LLC bought a new stake in Maplebear in the first quarter worth approximately $52,333,000. Westfield Capital Management Co. LP bought a new stake in shares of Maplebear during the first quarter valued at approximately $48,639,000. Finally, Invesco Ltd. increased its holdings in shares of Maplebear by 82.5% during the first quarter. Invesco Ltd. now owns 2,575,624 shares of the company’s stock valued at $102,742,000 after acquiring an additional 1,164,702 shares in the last quarter. 63.09% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on CART shares. JMP Securities boosted their price objective on Maplebear from $55.00 to $60.00 and gave the company a “market outperform” rating in a report on Friday, August 8th. Mizuho began coverage on Maplebear in a research report on Tuesday, September 30th. They set a “neutral” rating and a $45.00 target price on the stock. Benchmark raised Maplebear from a “hold” rating to a “buy” rating and set a $67.00 price objective on the stock in a research report on Friday, August 8th. BTIG Research reissued a “neutral” rating and issued a $55.00 price objective on shares of Maplebear in a research report on Tuesday, September 30th. Finally, Wedbush reissued an “underperform” rating and issued a $42.00 price objective (down previously from $55.00) on shares of Maplebear in a research report on Thursday, August 21st. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Maplebear presently has an average rating of “Moderate Buy” and a consensus target price of $52.40.

Maplebear Stock Performance

NASDAQ:CART opened at $39.42 on Friday. Maplebear Inc. has a 52-week low of $34.87 and a 52-week high of $53.50. The firm has a market cap of $10.38 billion, a price-to-earnings ratio of 22.79, a PEG ratio of 1.21 and a beta of 1.10. The business’s fifty day moving average is $42.17 and its 200 day moving average is $44.19.

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

Insider Activity at Maplebear

In related news, General Counsel Morgan Fong sold 3,546 shares of the business’s stock in a transaction on Monday, October 20th. The stock was sold at an average price of $38.85, for a total transaction of $137,762.10. Following the sale, the general counsel directly owned 427,523 shares in the company, valued at approximately $16,609,268.55. The trade was a 0.82% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Fidji Simo sold 1,014 shares of the business’s stock in a transaction on Thursday, October 16th. The shares were sold at an average price of $40.00, for a total value of $40,560.00. Following the sale, the director owned 569,742 shares in the company, valued at approximately $22,789,680. The trade was a 0.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 27,556 shares of company stock worth $1,179,482. 26.00% of the stock is owned by company insiders.

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.