Maplebear Inc. $CART Shares Newly Bought by Vise Technologies Inc.

Vise Technologies Inc. bought a new stake in Maplebear Inc. (NASDAQ:CART) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 16,613 shares of the company’s stock, valued at approximately $716,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. BlackRock Inc. bought a new position in Maplebear during the second quarter valued at approximately $750,477,000. Dimensional Fund Advisors LP boosted its position in shares of Maplebear by 31.4% in the first quarter. Dimensional Fund Advisors LP now owns 4,981,960 shares of the company’s stock valued at $186,618,000 after acquiring an additional 1,189,287 shares during the period. William Blair Investment Management LLC bought a new position in Maplebear during the second quarter worth $86,462,000. Deutsche Bank AG acquired a new position in Maplebear during the 2nd quarter valued at $73,801,000. Finally, Goodnow Investment Group LLC bought a new stake in Maplebear in the 2nd quarter valued at $69,898,000. Hedge funds and other institutional investors own 63.09% of the company’s stock.

Maplebear Trading Up 0.0%

Maplebear stock opened at $58.47 on Wednesday. Maplebear Inc. has a 1 year low of $32.73 and a 1 year high of $62.00. The company’s 50-day moving average is $50.10 and its two-hundred day moving average is $43.96. The company has a market cap of $13.84 billion, a PE ratio of 27.19, a PEG ratio of 1.16 and a beta of 0.69.

Maplebear (NASDAQ:CART) last released its earnings results on Thursday, October 29th. The company reported $0.60 earnings per share for the quarter, missing the consensus estimate of $0.63 by ($0.03). The company had revenue of $1.09 billion during the quarter, compared to analyst estimates of $1.07 billion. Maplebear had a net margin of 11.59% and a return on equity of 22.14%. The company’s quarterly revenue was up 16.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.42 EPS. Research analysts forecast that Maplebear Inc. will post 2.28 EPS for the current year.

Analyst Ratings Changes

CART has been the subject of several research reports. Raymond James Financial cut Maplebear from a “moderate buy” rating to a “hold” rating in a research report on Thursday, October 29th. Sanford C. Bernstein downgraded Maplebear from an “outperform” rating to a “hold” rating and lifted their price objective for the company from $60.00 to $65.00 in a report on Friday, October 30th. Wedbush downgraded Maplebear from an “outperform” rating to a “hold” rating and raised their target price for the stock from $63.00 to $65.00 in a research report on Friday, October 30th. Wells Fargo & Company boosted their price target on Maplebear from $54.00 to $56.00 and gave the company an “equal weight” rating in a research note on Monday, October 5th. Finally, Cantor Fitzgerald cut Maplebear from an “overweight” rating to a “hold” rating and lifted their price objective for the company from $63.00 to $65.00 in a report on Friday, October 30th. Seven analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $59.12.

Insider Buying and Selling at Maplebear

In other Maplebear news, Director Ravi Gupta sold 150,000 shares of Maplebear stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $50.61, for a total value of $7,591,500.00. Following the transaction, the director owned 591,523 shares of the company’s stock, valued at approximately $29,936,979.03. The trade was a 20.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Lisa Blackwood-Kapral sold 3,017 shares of the firm’s stock in a transaction on Tuesday, September 15th. The stock was sold at an average price of $47.08, for a total transaction of $142,040.36. Following the sale, the chief accounting officer owned 37,715 shares in the company, valued at approximately $1,775,622.20. The trade was a 7.41% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 309,928 shares of company stock worth $16,121,073 over the last three months. Company insiders own 24.00% of the company’s stock.

Maplebear Profile

Maplebear Inc., which operates as Instacart, provides an online grocery and retail marketplace in the United States and Canada. Its platform connects customers with local grocery stores and other retailers, enabling them to order products for delivery or pickup. In addition to its consumer app and website, Instacart offers retailers technology and services for online ordering, fulfillment and digital advertising. The company was founded in 2012 and is led by CEO Fidji Simo.