Thames Capital Management LLC Sells 55,246 Shares of Maplebear Inc. (NASDAQ:CART)

Thames Capital Management LLC decreased its holdings in Maplebear Inc. (NASDAQ:CART) by 27.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 143,057 shares of the company’s stock after selling 55,246 shares during the quarter. Maplebear accounts for approximately 1.6% of Thames Capital Management LLC’s investment portfolio, making the stock its 27th biggest holding. Thames Capital Management LLC owned 0.06% of Maplebear worth $5,925,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Jones Financial Companies Lllp lifted 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 in the last quarter. Wilmington Savings Fund Society FSB bought a new position in Maplebear during the 3rd quarter valued at $33,000. Allworth Financial LP boosted its holdings in Maplebear by 101.4% during the 4th quarter. Allworth Financial LP now owns 834 shares of the company’s stock worth $37,000 after acquiring an additional 420 shares during the last quarter. Cullen Frost Bankers Inc. bought a new stake in shares of Maplebear in the 4th quarter worth $62,000. Finally, PNC Financial Services Group Inc. grew its stake in shares of Maplebear by 243.3% in the 4th quarter. PNC Financial Services Group Inc. now owns 3,399 shares of the company’s stock worth $141,000 after acquiring an additional 2,409 shares in the last quarter. Institutional investors and hedge funds own 63.09% of the company’s stock.

Analysts Set New Price Targets

CART has been the topic of several analyst reports. Mizuho cut their price target on shares of Maplebear from $55.00 to $52.00 and set an “outperform” rating on the stock in a report on Wednesday, February 26th. Oppenheimer reduced their price objective on Maplebear from $65.00 to $60.00 and set an “outperform” rating for the company in a research note on Wednesday, February 26th. Stifel Nicolaus lifted their target price on Maplebear from $56.00 to $57.00 and gave the stock a “buy” rating in a research note on Wednesday, February 26th. Cantor Fitzgerald restated an “overweight” rating and set a $55.00 price target on shares of Maplebear in a research report on Wednesday, February 26th. Finally, Macquarie lifted their price objective on shares of Maplebear from $52.00 to $55.00 and gave the stock an “outperform” rating in a research report on Thursday, February 27th. Thirteen equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $50.13.

Maplebear Trading Down 6.6 %

Shares of NASDAQ CART opened at $37.37 on Friday. The business has a 50-day moving average of $43.98 and a 200-day moving average of $43.58. The firm has a market capitalization of $9.89 billion, a price-to-earnings ratio of 25.08, a PEG ratio of 1.19 and a beta of 1.19. Maplebear Inc. has a 12 month low of $29.84 and a 12 month high of $53.44.

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

Insider Activity at Maplebear

In other news, CEO Fidji Simo sold 20,750 shares of the company’s stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $43.31, for a total value of $898,682.50. Following the completion of the sale, the chief executive officer now owns 1,662,692 shares of the company’s stock, valued at approximately $72,011,190.52. This represents a 1.23 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Alan Ramsay sold 2,314 shares of Maplebear stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $46.28, for a total transaction of $107,091.92. Following the completion of the transaction, the chief accounting officer now owns 85,421 shares in the company, valued at approximately $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 25,097 shares of company stock valued at $1,087,094 over the last 90 days. 36.00% of the stock is owned by insiders.

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.