KBC Group NV Sells 1,413 Shares of Maplebear Inc. $CART

KBC Group NV trimmed its stake in Maplebear Inc. (NASDAQ:CART) by 23.3% during the 2nd quarter, Holdings Channel reports. The firm owned 4,649 shares of the company’s stock after selling 1,413 shares during the quarter. KBC Group NV’s holdings in Maplebear were worth $210,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in shares of Maplebear by 3.4% during the first quarter. Vanguard Group Inc. now owns 16,514,830 shares of the company’s stock worth $658,777,000 after acquiring an additional 546,472 shares in the last quarter. T. Rowe Price Investment Management Inc. raised its stake in shares of Maplebear by 10.2% during the first quarter. T. Rowe Price Investment Management Inc. now owns 5,226,979 shares of the company’s stock valued at $208,505,000 after acquiring an additional 482,327 shares during the last quarter. Boston Partners raised its position in Maplebear by 93.3% during the 2nd quarter. Boston Partners now owns 3,961,838 shares of the company’s stock valued at $179,261,000 after purchasing an additional 1,911,771 shares during the last quarter. Altimeter Capital Management LP lifted its stake in Maplebear by 31.9% in the first quarter. Altimeter Capital Management LP now owns 3,348,128 shares of the company’s stock worth $133,557,000 after acquiring an additional 810,510 shares during the period. Finally, William Blair Investment Management LLC purchased a new stake in shares of Maplebear in the 2nd quarter worth about $151,364,000. Hedge funds and other institutional investors own 63.09% of the company’s stock.

Maplebear Trading Up 1.8%

Shares of Maplebear stock opened at $41.23 on Wednesday. The firm has a market cap of $10.82 billion, a P/E ratio of 22.65, a P/E/G ratio of 1.33 and a beta of 1.10. The stock’s fifty day moving average price is $39.96 and its 200-day moving average price is $43.92. Maplebear Inc. has a 12 month low of $34.78 and a 12 month high of $53.50.

Maplebear (NASDAQ:CART) last announced its quarterly 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. The firm had revenue of $939.00 million during the quarter, compared to analysts’ expectations of $933.76 million. Maplebear had a net margin of 14.09% and a return on equity of 15.72%. The company’s revenue was up 10.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.42 EPS. Analysts forecast that Maplebear Inc. will post 1.43 earnings per share for the current year.

Insiders Place Their Bets

In other news, General Counsel Morgan Fong sold 3,546 shares of the 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 completion of the sale, the general counsel owned 427,523 shares in the company, valued at approximately $16,609,268.55. This represents a 0.82% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Fidji Simo sold 7,140 shares of the firm’s stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $47.30, for a total value of $337,722.00. Following the completion of the sale, the director directly owned 573,807 shares of the company’s stock, valued at approximately $27,141,071.10. This represents a 1.23% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 27,556 shares of company stock worth $1,179,482. 26.00% of the stock is owned by corporate insiders.

Analyst Ratings Changes

CART has been the subject of several recent research reports. JMP Securities raised their price objective on Maplebear from $55.00 to $60.00 and gave the company a “market outperform” rating in a research report on Friday, August 8th. Wells Fargo & Company lowered their price objective on shares of Maplebear from $57.00 to $47.00 and set an “equal weight” rating on the stock in a research note on Friday, October 3rd. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Maplebear in a report on Tuesday, October 14th. Wedbush restated an “underperform” rating and set a $42.00 target price (down previously from $55.00) on shares of Maplebear in a research report on Thursday, August 21st. Finally, Fox Advisors raised shares of Maplebear from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 3rd. Two analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $51.40.

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.