Tabor Asset Management LP Has $2.81 Million Stake in Maplebear Inc. (NASDAQ:CART)

Tabor Asset Management LP cut its stake in Maplebear Inc. (NASDAQ:CART) by 60.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 67,726 shares of the company’s stock after selling 104,910 shares during the period. Maplebear makes up 1.3% of Tabor Asset Management LP’s holdings, making the stock its 27th largest position. Tabor Asset Management LP’s holdings in Maplebear were worth $2,805,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Jones Financial Companies Lllp raised its holdings in shares of Maplebear by 46.6% in the fourth quarter. Jones Financial Companies Lllp now owns 698 shares of the company’s stock valued at $29,000 after purchasing an additional 222 shares during the last quarter. Allworth Financial LP increased its stake in Maplebear by 101.4% in the 4th quarter. Allworth Financial LP now owns 834 shares of the company’s stock valued at $37,000 after buying an additional 420 shares during the last quarter. NewEdge Advisors LLC lifted its position in Maplebear by 277.9% during the 4th quarter. NewEdge Advisors LLC now owns 975 shares of the company’s stock worth $40,000 after buying an additional 717 shares in the last quarter. Anderson Financial Strategies LLC bought a new stake in Maplebear during the 4th quarter worth about $46,000. Finally, Cullen Frost Bankers Inc. acquired a new position in shares of Maplebear during the 4th quarter worth about $62,000. Institutional investors own 63.09% of the company’s stock.

Insider Activity

In other Maplebear news, General Counsel Morgan Fong sold 5,249 shares of the stock in a transaction dated Monday, April 21st. The stock was sold at an average price of $42.57, for a total transaction of $223,449.93. Following the completion of the sale, the general counsel now directly owns 484,292 shares in the company, valued at approximately $20,616,310.44. This trade represents a 1.07% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Fidji Simo sold 2,033 shares of the business’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $40.00, for a total value of $81,320.00. Following the completion of the transaction, 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 disclosure for this sale can be found here. Over the last quarter, insiders sold 36,165 shares of company stock valued at $1,541,785. Company insiders own 26.00% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on CART shares. BMO Capital Markets upped their target price on Maplebear from $48.00 to $49.00 and gave the stock a “market perform” rating in a report on Wednesday, February 26th. Loop Capital dropped their price objective on Maplebear from $56.00 to $52.00 and set a “buy” rating on the stock in a research note on Thursday, March 6th. Seaport Res Ptn raised Maplebear to a “strong-buy” rating in a report on Wednesday, February 12th. Wells Fargo & Company lowered their target price on shares of Maplebear from $47.00 to $44.00 and set an “equal weight” rating on the stock in a report on Thursday, April 3rd. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $55.00 price target on shares of Maplebear in a research report on Friday, April 11th. Twelve research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $51.04.

Maplebear Price Performance

CART opened at $45.66 on Monday. Maplebear Inc. has a fifty-two week low of $29.84 and a fifty-two week high of $53.44. The company’s 50 day moving average price is $41.16 and its two-hundred day moving average price is $43.53. The firm has a market capitalization of $11.99 billion, a price-to-earnings ratio of 30.64, a PEG ratio of 1.19 and a beta of 1.19.

Maplebear (NASDAQ:CART) last issued its quarterly earnings data on Thursday, May 1st. The company reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.38 by ($0.01). The business had revenue of $897.00 million during the quarter, compared to the consensus estimate of $896.86 million. Maplebear had a return on equity of 13.78% and a net margin of 13.37%. The business’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.43 EPS. As a group, equities research analysts predict that Maplebear Inc. will post 1.43 EPS for the current year.

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.