Legal & General Group Plc Trims Position in Maplebear Inc. (NASDAQ:CART)

Legal & General Group Plc decreased its position in shares of Maplebear Inc. (NASDAQ:CART) by 4.2% during the fourth quarter, Holdings Channel reports. The institutional investor owned 181,939 shares of the company’s stock after selling 7,949 shares during the period. Legal & General Group Plc’s holdings in Maplebear were worth $7,536,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of CART. Jones Financial Companies Lllp raised its holdings in Maplebear by 46.6% during the fourth quarter. Jones Financial Companies Lllp now owns 698 shares of the company’s stock valued at $29,000 after acquiring an additional 222 shares during the period. Allworth Financial LP raised its stake in Maplebear by 101.4% during the 4th quarter. Allworth Financial LP now owns 834 shares of the company’s stock valued at $37,000 after purchasing an additional 420 shares during the period. CIBC Asset Management Inc raised its position in shares of Maplebear by 5.4% during the fourth quarter. CIBC Asset Management Inc now owns 8,554 shares of the company’s stock valued at $354,000 after buying an additional 440 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new stake in Maplebear in the 3rd quarter valued at $33,000. Finally, Adero Partners LLC lifted its position in shares of Maplebear by 7.4% in the fourth quarter. Adero Partners LLC now owns 12,019 shares of the company’s stock worth $498,000 after buying an additional 828 shares in the last quarter. Hedge funds and other institutional investors own 63.09% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Wedbush lowered their target price on Maplebear from $48.00 to $46.00 and set a “neutral” rating for the company in a research report on Wednesday, February 26th. Loop Capital lowered their price objective on shares of Maplebear from $56.00 to $52.00 and set a “buy” rating for the company in a research report on Thursday, March 6th. Morgan Stanley boosted their target price on shares of Maplebear from $44.00 to $45.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 26th. JMP Securities reiterated a “market outperform” rating and issued a $55.00 price target on shares of Maplebear in a research report on Friday, April 11th. Finally, Oppenheimer decreased their price objective on Maplebear from $65.00 to $60.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 26th. Twelve investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $50.61.

Insider Activity at Maplebear

In related news, CEO Fidji Simo sold 2,033 shares of the stock in a transaction that occurred on 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 of the company’s stock, valued at $66,182,360. This trade represents a 0.12 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Alan Ramsay sold 2,314 shares of the company’s stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $46.28, for a total transaction of $107,091.92. Following the transaction, the chief accounting officer now owns 85,421 shares in the company, valued at $3,953,283.88. The trade was a 2.64 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 33,230 shares of company stock valued at $1,425,427 over the last quarter. 36.00% of the stock is owned by corporate insiders.

Maplebear Stock Performance

Maplebear stock opened at $42.99 on Friday. Maplebear Inc. has a fifty-two week low of $29.84 and a fifty-two week high of $53.44. The company has a market capitalization of $11.29 billion, a PE ratio of 28.85, a P/E/G ratio of 1.19 and a beta of 1.20. The company has a 50 day moving average price of $41.98 and a 200-day moving average price of $43.50.

Maplebear (NASDAQ:CART) last issued its earnings results on Tuesday, February 25th. The company reported $0.53 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.16. Maplebear had a return on equity of 13.78% and a net margin of 13.37%. The business had revenue of $883.00 million during the quarter, compared to analysts’ expectations of $889.98 million. On average, analysts forecast that Maplebear Inc. will post 1.43 earnings per share for the current 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.