Maplebear Inc. $CART Shares Sold by UBS Group AG

UBS Group AG cut its stake in shares of Maplebear Inc. (NASDAQ:CART) by 22.8% in the fourth quarter, Holdings Channel.com reports. The fund owned 1,522,616 shares of the company’s stock after selling 448,908 shares during the period. UBS Group AG’s holdings in Maplebear were worth $68,487,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. State Street Corp increased its position in shares of Maplebear by 1.3% during the second quarter. State Street Corp now owns 5,101,870 shares of the company’s stock valued at $230,809,000 after acquiring an additional 66,588 shares during the last quarter. Viking Global Investors LP acquired a new stake in shares of Maplebear during the second quarter valued at about $169,782,000. Bank of America Corp DE increased its position in shares of Maplebear by 75.9% during the third quarter. Bank of America Corp DE now owns 3,036,736 shares of the company’s stock valued at $111,630,000 after acquiring an additional 1,310,392 shares during the last quarter. Holocene Advisors LP acquired a new stake in shares of Maplebear during the third quarter valued at about $90,167,000. Finally, Dimensional Fund Advisors LP increased its position in shares of Maplebear by 30.8% during the third quarter. Dimensional Fund Advisors LP now owns 1,766,106 shares of the company’s stock valued at $64,947,000 after acquiring an additional 415,666 shares during the last quarter. 63.09% of the stock is currently owned by institutional investors and hedge funds.

Maplebear Stock Performance

Shares of CART stock opened at $43.29 on Tuesday. The stock has a market capitalization of $10.25 billion, a P/E ratio of 27.23, a price-to-earnings-growth ratio of 0.65 and a beta of 0.96. The company has a 50 day moving average price of $38.99 and a 200 day moving average price of $39.86. Maplebear Inc. has a fifty-two week low of $32.73 and a fifty-two week high of $53.50.

Insider Buying and Selling

In other Maplebear news, General Counsel Morgan Fong sold 126,083 shares of the business’s stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $37.09, for a total transaction of $4,676,418.47. Following the completion of the transaction, the general counsel owned 386,643 shares in the company, valued at $14,340,588.87. The trade was a 24.59% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Lisa Blackwood-Kapral sold 9,390 shares of the business’s 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 transaction, 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 position. 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 144,863 shares of company stock valued at $5,418,135 in the last 90 days. Company insiders own 24.00% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on CART. Needham & Company LLC lifted their price target on shares of Maplebear from $50.00 to $55.00 and gave the company a “buy” rating in a research report on Friday, February 13th. Benchmark dropped their price target on shares of Maplebear from $60.00 to $53.00 and set a “buy” rating for the company in a research report on Tuesday, February 10th. Cantor Fitzgerald lifted their price target on shares of Maplebear from $45.00 to $54.00 and gave the company an “overweight” rating in a research report on Thursday, January 8th. BNP Paribas Exane began coverage on shares of Maplebear in a research report on Wednesday, January 14th. They set an “underperform” rating and a $41.00 price target for the company. Finally, Stifel Nicolaus dropped their price objective on shares of Maplebear from $49.00 to $46.00 and set a “buy” rating for the company in a report on Tuesday, January 27th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, nine have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus 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.