Voya Investment Management LLC Sells 17,279 Shares of Maplebear Inc. $CART

Voya Investment Management LLC trimmed its stake in shares of Maplebear Inc. (NASDAQ:CART) by 21.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 61,981 shares of the company’s stock after selling 17,279 shares during the quarter. Voya Investment Management LLC’s holdings in Maplebear were worth $2,278,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Viking Global Investors LP bought a new position in shares of Maplebear in the second quarter valued at about $169,782,000. William Blair Investment Management LLC acquired a new stake in Maplebear during the 2nd quarter worth approximately $151,364,000. Norges Bank bought a new position in Maplebear during the 2nd quarter worth $97,351,000. Boston Partners increased its position in Maplebear by 93.3% during the 2nd quarter. Boston Partners now owns 3,961,838 shares of the company’s stock worth $179,261,000 after buying an additional 1,911,771 shares during the period. Finally, Clark Capital Management Group Inc. acquired a new stake in shares of Maplebear during the first quarter worth $39,233,000. 63.09% of the stock is currently owned by institutional investors and hedge funds.

Maplebear Trading Up 0.4%

NASDAQ CART opened at $45.85 on Monday. The firm’s 50 day simple moving average is $41.33 and its 200 day simple moving average is $43.52. The firm has a market capitalization of $12.04 billion, a price-to-earnings ratio of 25.19, a P/E/G ratio of 1.49 and a beta of 1.01. Maplebear Inc. has a 1 year low of $34.78 and a 1 year high of $53.50.

Maplebear (NASDAQ:CART) last released its earnings results on Monday, November 10th. The company reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.01. Maplebear had a return on equity of 15.72% and a net margin of 14.09%.The firm had revenue of $939.00 million during the quarter, compared to analysts’ expectations of $933.76 million. During the same period in the prior year, the company earned $0.42 earnings per share. The company’s quarterly revenue was up 10.2% on a year-over-year basis. On average, equities research analysts forecast that Maplebear Inc. will post 1.43 earnings per share for the current year.

Insider Transactions at Maplebear

In related news, Director Fidji Simo sold 3,051 shares of the company’s stock in a transaction that occurred on Wednesday, October 15th. The shares were sold at an average price of $39.60, for a total transaction of $120,819.60. Following the completion of the transaction, the director directly owned 570,756 shares in the company, valued at $22,601,937.60. This represents a 0.53% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Morgan Fong sold 4,914 shares of the business’s stock in a transaction on Monday, December 22nd. The stock was sold at an average price of $45.21, for a total transaction of $222,161.94. Following the sale, the general counsel directly owned 404,940 shares in the company, valued at approximately $18,307,337.40. The trade was a 1.20% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 12,525 shares of company stock worth $521,304. Company insiders own 26.00% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on CART shares. BMO Capital Markets upgraded shares of Maplebear from a “market perform” rating to an “outperform” rating and set a $58.00 price target on the stock in a research note on Tuesday, November 11th. Fox Advisors lowered shares of Maplebear from a “strong-buy” rating to a “hold” rating in a research report on Thursday, December 18th. JPMorgan Chase & Co. lowered their target price on shares of Maplebear from $65.00 to $55.00 and set an “overweight” rating on the stock in a report on Tuesday, November 11th. Jefferies Financial Group boosted their price target on Maplebear from $41.00 to $48.00 and gave the company a “hold” rating in a research note on Thursday, December 11th. Finally, Stifel Nicolaus dropped their price objective on Maplebear from $56.00 to $49.00 and set a “buy” rating for the company in a report on Friday, October 24th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $52.21.

Maplebear Company 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.