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

KBC Group NV lessened its holdings in shares of Maplebear Inc. (NASDAQ:CART) by 23.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund 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.

Several other large investors also recently modified their holdings of CART. Mitsubishi UFJ Trust & Banking Corp raised its holdings in Maplebear by 261.8% in the 2nd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 99,868 shares of the company’s stock valued at $4,518,000 after acquiring an additional 72,265 shares during the period. Boston Partners boosted its position in shares of Maplebear by 93.3% during the 2nd quarter. Boston Partners now owns 3,961,838 shares of the company’s stock worth $179,261,000 after acquiring an additional 1,911,771 shares in the last quarter. Illinois Municipal Retirement Fund boosted its holdings in shares of Maplebear by 307.0% in the 2nd quarter. Illinois Municipal Retirement Fund now owns 65,348 shares of the company’s stock valued at $2,956,000 after purchasing an additional 49,293 shares in the last quarter. ProShare Advisors LLC grew its position in Maplebear by 5.7% in the second quarter. ProShare Advisors LLC now owns 7,284 shares of the company’s stock valued at $330,000 after acquiring an additional 390 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Maplebear during the 2nd quarter valued at approximately $229,000. 63.09% of the stock is owned by institutional investors.

Maplebear Stock Performance

Shares of NASDAQ:CART opened at $41.23 on Wednesday. Maplebear Inc. has a fifty-two week low of $34.78 and a fifty-two week high of $53.50. The company’s 50-day moving average is $39.96 and its 200 day moving average is $43.92. The company has a market capitalization of $10.82 billion, a P/E ratio of 22.65, a price-to-earnings-growth ratio of 1.33 and a beta of 1.10.

Maplebear (NASDAQ:CART) last issued its quarterly earnings results on Monday, November 10th. The company reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.01. Maplebear had a net margin of 14.09% and a return on equity of 15.72%. The company had revenue of $939.00 million during the quarter, compared to analyst estimates of $933.76 million. During the same quarter last year, the business posted $0.42 EPS. Maplebear’s quarterly revenue was up 10.2% compared to the same quarter last year. As a group, research analysts predict that Maplebear Inc. will post 1.43 earnings per share for the current year.

Insider Transactions at Maplebear

In related news, General Counsel Morgan Fong sold 3,546 shares of the business’s 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 sale, the general counsel directly owned 427,523 shares in the company, valued at approximately $16,609,268.55. The trade was a 0.82% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Fidji Simo sold 7,140 shares of the company’s stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $47.30, for a total value of $337,722.00. Following the sale, the director owned 573,807 shares in the company, valued at approximately $27,141,071.10. This represents a 1.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 27,556 shares of company stock worth $1,179,482 over the last quarter. Corporate insiders own 26.00% of the company’s stock.

Wall Street Analyst Weigh In

CART has been the topic of a number of research reports. Guggenheim started coverage on Maplebear in a research report on Wednesday, October 15th. They set a “neutral” rating and a $40.00 price objective on the stock. JMP Securities increased their price objective on shares of Maplebear from $55.00 to $60.00 and gave the stock a “market outperform” rating in a research report on Friday, August 8th. Piper Sandler downgraded Maplebear from an “overweight” rating to a “neutral” rating and set a $41.00 target price for the company. in a report on Friday, October 3rd. Stifel Nicolaus dropped their price objective on shares of Maplebear from $56.00 to $49.00 and set a “buy” rating on the stock in a report on Friday, October 24th. Finally, Wells Fargo & Company lowered their target price on Maplebear from $57.00 to $47.00 and set an “equal weight” rating on the stock in a research report on Friday, October 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $51.40.

Maplebear 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.