Mutual of America Capital Management LLC Decreases Stock Holdings in Maplebear Inc. $CART

Mutual of America Capital Management LLC lowered its stake in shares of Maplebear Inc. (NASDAQ:CART) by 1.9% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor 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 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. CWM LLC boosted its holdings in Maplebear by 35.1% during the first quarter. CWM LLC now owns 1,058 shares of the company’s stock worth $42,000 after buying an additional 275 shares in the last quarter. Signaturefd LLC raised its position in shares of Maplebear by 27.1% in the first quarter. Signaturefd LLC now owns 1,335 shares of the company’s stock valued at $53,000 after buying an additional 285 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its position in Maplebear by 0.4% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 75,161 shares of the company’s stock worth $3,546,000 after purchasing an additional 315 shares during the last quarter. Parallel Advisors LLC increased its position in Maplebear by 1.3% during the second quarter. Parallel Advisors LLC now owns 25,845 shares of the company’s stock worth $1,169,000 after purchasing an additional 321 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in Maplebear by 18.6% during the first 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 last quarter. Hedge funds and other institutional investors own 63.09% of the company’s stock.

Insiders Place Their Bets

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

Maplebear Stock Down 0.1%

NASDAQ:CART opened at $39.42 on Friday. Maplebear Inc. has a 12 month low of $34.87 and a 12 month high of $53.50. The firm has a market cap of $10.38 billion, a price-to-earnings ratio of 22.79, a P/E/G ratio of 1.21 and a beta of 1.10. The company’s 50 day moving average is $42.17 and its 200-day moving average is $44.19.

Maplebear (NASDAQ:CART) last announced its earnings results on Thursday, August 7th. The company reported $0.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 revenue was up 11.1% compared to the same quarter last year. Research analysts predict that Maplebear Inc. will post 1.43 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Wall Street Zen downgraded shares of Maplebear from a “buy” rating to a “hold” rating in a research note on Monday, September 29th. Morgan Stanley increased their target price on shares of Maplebear from $45.00 to $48.00 and gave the stock an “equal weight” rating in a report on Friday, August 15th. BTIG Research reiterated a “neutral” rating and issued a $55.00 price objective on shares of Maplebear in a research report on Tuesday, September 30th. Guggenheim assumed coverage on shares of Maplebear in a research note on Wednesday, October 15th. They set a “neutral” rating and a $40.00 target price on the stock. Finally, Citigroup raised their target price on shares of Maplebear from $57.00 to $65.00 and gave the company a “buy” rating in a research note on Friday, August 8th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $52.40.

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.