Robeco Institutional Asset Management B.V. Sells 154,457 Shares of Maplebear Inc. $CART

Robeco Institutional Asset Management B.V. trimmed its position in shares of Maplebear Inc. (NASDAQ:CART) by 27.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 401,258 shares of the company’s stock after selling 154,457 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in Maplebear were worth $17,302,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of CART. Pinnacle Bancorp Inc. bought a new stake in shares of Maplebear in the first quarter worth $25,000. NFSG Corp purchased a new stake in Maplebear during the third quarter valued at $26,000. CX Institutional increased its position in Maplebear by 91.5% during the third quarter. CX Institutional now owns 944 shares of the company’s stock valued at $41,000 after acquiring an additional 451 shares during the last quarter. Versant Capital Management Inc lifted its holdings in Maplebear by 94.7% in the second quarter. Versant Capital Management Inc now owns 1,215 shares of the company’s stock valued at $58,000 after acquiring an additional 591 shares during the period. Finally, Allworth Financial LP bought a new position in Maplebear in the second quarter valued at about $62,000. 63.09% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have issued reports on CART. Needham & Company LLC raised their target price on Maplebear from $55.00 to $63.00 and gave the stock a “buy” rating in a research report on Friday, August 7th. JPMorgan Chase & Co. upped their price target on shares of Maplebear from $55.00 to $62.00 and gave the company an “overweight” rating in a research report on Friday, August 7th. Weiss Ratings raised shares of Maplebear from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, October 15th. Rosenblatt Securities initiated coverage on shares of Maplebear in a research note on Tuesday, September 1st. They issued a “neutral” rating and a $55.00 price objective on the stock. Finally, Benchmark increased their price objective on shares of Maplebear from $55.00 to $63.00 and gave the stock a “buy” rating in a research note on Friday, August 7th. Fourteen investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, Maplebear has a consensus rating of “Moderate Buy” and a consensus target price of $58.24.

Insider Activity

In related news, Director Ravi Gupta sold 150,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $50.61, for a total transaction of $7,591,500.00. Following the completion of the transaction, the director directly owned 591,523 shares in the company, valued at approximately $29,936,979.03. The trade was a 20.23% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Morgan Fong sold 18,390 shares of the business’s stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $49.96, for a total value of $918,764.40. Following the transaction, the insider owned 529,911 shares of the company’s stock, valued at approximately $26,474,353.56. This trade represents a 3.35% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 192,813 shares of company stock valued at $9,629,020 in the last ninety days. Corporate insiders own 24.00% of the company’s stock.

Maplebear Stock Performance

NASDAQ CART opened at $56.44 on Friday. The business’s fifty day moving average is $48.20 and its 200 day moving average is $45.19. Maplebear Inc. has a fifty-two week low of $32.73 and a fifty-two week high of $57.98. The company has a market capitalization of $13.07 billion, a PE ratio of 30.84, a price-to-earnings-growth ratio of 1.00 and a beta of 0.87.

Maplebear (NASDAQ:CART) last issued its quarterly earnings results on Thursday, August 6th. The company reported $0.45 EPS for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.09). Maplebear had a return on equity of 20.19% and a net margin of 11.97%. The company had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.03 billion. During the same quarter in the previous year, the company earned $0.41 EPS. The business’s quarterly revenue was up 14.1% compared to the same quarter last year. On average, sell-side analysts forecast that Maplebear Inc. will post 2.33 EPS for the current year.

Maplebear Company Profile

Maplebear Inc, doing business as Instacart, operates a technology-enabled grocery marketplace that connects consumers with retailers and personal shoppers. Through its website and mobile applications, customers can order groceries and other household products for delivery or pickup from participating supermarkets, specialty food stores, convenience retailers and other merchants.

The company also provides retailers with e-commerce, fulfillment and advertising solutions. Its platform supports online storefronts, order management, delivery logistics, customer engagement and data-driven marketing, allowing retail partners to offer digital shopping services and reach consumers through Instacart’s marketplace.

Founded in 2012, Maplebear serves customers across the United States and Canada.