Vanguard Group Inc. Trims Position in Maplebear Inc. $CART

Vanguard Group Inc. cut its position in Maplebear Inc. (NASDAQ:CART) by 0.3% in the fourth quarter, HoldingsChannel.com reports. The firm owned 19,044,096 shares of the company’s stock after selling 61,407 shares during the quarter. Vanguard Group Inc. owned about 0.07% of Maplebear worth $856,603,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the stock. HB Wealth Management LLC grew its stake in Maplebear by 7.6% during the fourth quarter. HB Wealth Management LLC now owns 11,069 shares of the company’s stock valued at $498,000 after acquiring an additional 786 shares in the last quarter. Ruffer LLP bought a new position in Maplebear during the fourth quarter valued at $2,567,000. M&T Bank Corp bought a new position in Maplebear during the fourth quarter valued at $1,378,000. Universal Beteiligungs und Servicegesellschaft mbH lifted its position in Maplebear by 67.5% during the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 128,611 shares of the company’s stock valued at $5,783,000 after purchasing an additional 51,832 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Maplebear by 37.9% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 64,718 shares of the company’s stock worth $2,911,000 after acquiring an additional 17,799 shares during the last quarter. 63.09% of the stock is owned by hedge funds and other institutional investors.

Maplebear Stock Down 0.4%

Shares of Maplebear stock opened at $42.19 on Friday. The firm’s 50 day moving average price is $38.99 and its 200-day moving average price is $39.86. Maplebear Inc. has a 52-week low of $32.73 and a 52-week high of $53.50. The company has a market cap of $9.99 billion, a P/E ratio of 26.53, a PEG ratio of 0.65 and a beta of 0.96.

Insider Buying and Selling

In related news, General Counsel Morgan Fong sold 126,083 shares of Maplebear stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $37.09, for a total value of $4,676,418.47. Following the completion of the sale, the general counsel directly owned 386,643 shares in the company, valued at $14,340,588.87. This trade represents a 24.59% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Lisa Blackwood-Kapral sold 9,390 shares of Maplebear stock in a transaction that occurred on Wednesday, April 15th. The stock was sold at an average price of $40.25, for a total transaction of $377,947.50. Following the completion of the sale, the chief accounting officer owned 58,971 shares of the company’s stock, valued at $2,373,582.75. This trade represents a 13.74% 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 sold a total of 144,863 shares of company stock valued at $5,418,135 over the last quarter. 24.00% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Wall Street Zen lowered shares of Maplebear from a “buy” rating to a “hold” rating in a report on Saturday. Wells Fargo & Company lifted their price objective on shares of Maplebear from $43.00 to $45.00 and gave the company an “equal weight” rating in a report on Monday, March 30th. BNP Paribas Exane initiated coverage on shares of Maplebear in a research report on Wednesday, January 14th. They set an “underperform” rating and a $41.00 target price on the stock. Jefferies Financial Group raised shares of Maplebear from a “hold” rating to a “buy” rating and raised their target price for the company from $38.00 to $45.00 in a research report on Monday, March 30th. Finally, Raymond James Financial raised shares of Maplebear from a “hold” rating to a “moderate buy” rating in a research report on Thursday, April 9th. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $51.29.

Maplebear 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.