Goldman Sachs Group Inc. Sells 4,240,346 Shares of Maplebear Inc. $CART

Goldman Sachs Group Inc. reduced its holdings in shares of Maplebear Inc. (NASDAQ:CART) by 68.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,974,903 shares of the company’s stock after selling 4,240,346 shares during the quarter. Goldman Sachs Group Inc.’s holdings in Maplebear were worth $88,831,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. Natixis Advisors LLC lifted its holdings in Maplebear by 4.6% during the fourth quarter. Natixis Advisors LLC now owns 15,308 shares of the company’s stock worth $689,000 after acquiring an additional 675 shares during the period. Norges Bank bought a new stake in Maplebear during the fourth quarter worth $97,221,000. Rothschild Investment LLC increased its position in Maplebear by 2,316.4% in the fourth quarter. Rothschild Investment LLC now owns 1,764 shares of the company’s stock worth $79,000 after buying an additional 1,691 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its position in Maplebear by 32.8% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 6,888 shares of the company’s stock worth $310,000 after buying an additional 1,702 shares during the last quarter. Finally, Intech Investment Management LLC purchased a new stake in Maplebear in the fourth quarter worth $4,295,000. 63.09% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Maplebear

In related news, Director Ravi Gupta sold 181,000 shares of the business’s stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $41.51, for a total transaction of $7,513,310.00. Following the completion of the transaction, the director directly owned 741,523 shares in the company, valued at $30,780,619.73. The trade was a 19.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Lisa Blackwood-Kapral sold 9,390 shares of the business’s stock in a transaction dated Wednesday, April 15th. The stock was sold at an average price of $40.25, for a total value of $377,947.50. Following the transaction, the chief accounting officer owned 58,971 shares of the company’s stock, valued at approximately $2,373,582.75. The trade was a 13.74% 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. Over the last quarter, insiders sold 199,780 shares of company stock valued at $8,255,026. 24.00% of the stock is owned by company insiders.

Maplebear Stock Performance

Shares of NASDAQ CART opened at $42.24 on Wednesday. The stock has a market cap of $9.93 billion, a PE ratio of 23.60, a price-to-earnings-growth ratio of 0.58 and a beta of 0.88. Maplebear Inc. has a fifty-two week low of $32.73 and a fifty-two week high of $53.50. The stock has a fifty day moving average of $40.76 and a 200-day moving average of $40.24.

Maplebear (NASDAQ:CART) last announced its quarterly earnings results on Wednesday, May 6th. The company reported $0.57 earnings per share for the quarter, missing the consensus estimate of $0.58 by ($0.01). The company had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1.01 billion. Maplebear had a net margin of 12.50% and a return on equity of 18.67%. Maplebear’s revenue for the quarter was up 13.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.37 earnings per share. On average, sell-side analysts predict that Maplebear Inc. will post 2.45 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have issued reports on CART. Jefferies Financial Group raised Maplebear from a “hold” rating to a “buy” rating and raised their target price for the stock from $38.00 to $45.00 in a research report on Monday, March 30th. Needham & Company LLC reissued a “buy” rating and issued a $55.00 target price on shares of Maplebear in a research report on Thursday, May 7th. Barclays raised their target price on Maplebear from $65.00 to $69.00 and gave the stock an “overweight” rating in a research report on Thursday, May 7th. Raymond James Financial raised Maplebear from a “hold” rating to a “moderate buy” rating in a research report on Thursday, April 9th. Finally, Benchmark decreased their target price on Maplebear from $60.00 to $53.00 and set a “buy” rating for the company in a research report on Tuesday, February 10th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $51.09.

Maplebear Company Profile

Maplebear, Inc, doing business as Instacart, operates a leading online grocery and essentials marketplace that connects consumers, retail partners and personal shoppers through its digital platform. The company enables customers to order groceries, household items and specialty products for same-day or scheduled delivery, as well as in-store pickup. By integrating its technology with retailers’ existing inventory and point-of-sale systems, Maplebear streamlines the shopping experience and provides real-time availability and pricing.

Founded in 2012 and headquartered in San Francisco, Maplebear has grown from a regional startup to a publicly traded company listed on NASDAQ under the ticker CART.