Maplebear Inc. (NASDAQ:CART) Shares Sold by Schonfeld Strategic Advisors LLC

Schonfeld Strategic Advisors LLC cut its holdings in Maplebear Inc. (NASDAQ:CART) by 94.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,833 shares of the company’s stock after selling 597,496 shares during the quarter. Schonfeld Strategic Advisors LLC’s holdings in Maplebear were worth $1,401,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CART. Hershey Trust Co. purchased a new stake in shares of Maplebear during the 4th quarter worth $441,000. AQR Capital Management LLC acquired a new stake in shares of Maplebear in the fourth quarter valued at about $6,646,000. Candlestick Capital Management LP boosted its holdings in Maplebear by 55.7% during the fourth quarter. Candlestick Capital Management LP now owns 977,672 shares of the company’s stock worth $40,495,000 after buying an additional 349,893 shares in the last quarter. Northern Trust Corp grew its position in Maplebear by 11.2% during the fourth quarter. Northern Trust Corp now owns 786,296 shares of the company’s stock worth $32,568,000 after buying an additional 78,931 shares during the period. Finally, The Manufacturers Life Insurance Company increased its holdings in Maplebear by 2.0% in the fourth quarter. The Manufacturers Life Insurance Company now owns 49,158 shares of the company’s stock valued at $2,036,000 after buying an additional 954 shares in the last quarter. Institutional investors and hedge funds own 63.09% of the company’s stock.

Insider Buying and Selling

In other Maplebear news, CEO Fidji Simo sold 2,033 shares of the company’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $40.00, for a total transaction of $81,320.00. Following the completion of the sale, the chief executive officer now directly owns 1,654,559 shares in the company, valued at $66,182,360. This represents a 0.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, General Counsel Morgan Fong sold 5,249 shares of Maplebear stock in a transaction dated Monday, April 21st. The shares were sold at an average price of $42.57, for a total value of $223,449.93. Following the completion of the transaction, the general counsel now directly owns 484,292 shares in the company, valued at $20,616,310.44. This represents a 1.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 36,165 shares of company stock valued at $1,541,785. 26.00% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts have recently commented on CART shares. BMO Capital Markets boosted their price target on Maplebear from $48.00 to $49.00 and gave the stock a “market perform” rating in a research note on Wednesday, February 26th. Cantor Fitzgerald reiterated an “overweight” rating and set a $55.00 target price on shares of Maplebear in a research report on Wednesday, February 26th. Bank of America upped their target price on Maplebear from $51.00 to $53.00 and gave the company a “neutral” rating in a report on Tuesday, February 25th. JPMorgan Chase & Co. cut their price target on Maplebear from $50.00 to $44.00 and set an “overweight” rating for the company in a research note on Tuesday, April 8th. Finally, Loop Capital lowered their price objective on shares of Maplebear from $56.00 to $52.00 and set a “buy” rating on the stock in a research note on Thursday, March 6th. Twelve equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $50.61.

Maplebear Price Performance

Shares of CART stock opened at $45.61 on Wednesday. Maplebear Inc. has a 1-year low of $29.84 and a 1-year high of $53.44. The firm’s 50-day simple moving average is $40.28 and its 200-day simple moving average is $43.52. The firm has a market cap of $11.97 billion, a P/E ratio of 30.61, a PEG ratio of 1.19 and a beta of 1.19.

Maplebear (NASDAQ:CART) last announced its quarterly earnings results on Thursday, May 1st. The company reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.01). Maplebear had a net margin of 13.37% and a return on equity of 13.78%. The company had revenue of $897.00 million during the quarter, compared to analyst estimates of $896.86 million. During the same quarter last year, the business earned $0.43 EPS. The firm’s revenue for the quarter was up 9.4% compared to the same quarter last year. Analysts expect that Maplebear Inc. will post 1.43 earnings per share for the current fiscal year.

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.