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

Vanguard Group Inc. trimmed its stake in Maplebear Inc. (NASDAQ:CART) by 0.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 19,105,503 shares of the company’s stock after selling 144,391 shares during the period. Vanguard Group Inc. owned 7.25% of Maplebear worth $702,318,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Hantz Financial Services Inc. grew its stake in Maplebear by 78.6% in the third quarter. Hantz Financial Services Inc. now owns 884 shares of the company’s stock valued at $32,000 after purchasing an additional 389 shares during the last quarter. Abich Financial Wealth Management LLC bought a new stake in shares of Maplebear in the 3rd quarter valued at about $43,000. Elevation Point Wealth Partners LLC purchased a new position in shares of Maplebear in the 2nd quarter worth approximately $53,000. CWM LLC raised its stake in shares of Maplebear by 42.2% during the 3rd quarter. CWM LLC now owns 1,634 shares of the company’s stock worth $60,000 after acquiring an additional 485 shares in the last quarter. Finally, Huntington National Bank raised its stake in shares of Maplebear by 2,288.5% during the 2nd quarter. Huntington National Bank now owns 1,457 shares of the company’s stock worth $66,000 after acquiring an additional 1,396 shares in the last quarter. Institutional investors own 63.09% of the company’s stock.

Maplebear Stock Performance

Shares of CART stock opened at $36.16 on Tuesday. Maplebear Inc. has a fifty-two week low of $32.73 and a fifty-two week high of $53.50. The firm has a market capitalization of $9.49 billion, a PE ratio of 22.74, a P/E/G ratio of 0.55 and a beta of 1.00. The stock’s 50-day simple moving average is $40.15 and its 200-day simple moving average is $41.27.

Insiders Place Their Bets

In other Maplebear news, General Counsel Morgan Fong sold 4,914 shares of the firm’s stock in a transaction that occurred on Monday, December 22nd. The shares were sold at an average price of $45.21, for a total transaction of $222,161.94. Following the completion of the transaction, the general counsel directly owned 404,940 shares of the company’s stock, valued at approximately $18,307,337.40. This trade represents a 1.20% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 26.00% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Cantor Fitzgerald raised their target price on shares of Maplebear from $45.00 to $54.00 and gave the company an “overweight” rating in a research note on Thursday, January 8th. Argus assumed coverage on Maplebear in a research report on Wednesday, January 7th. They issued a “buy” rating and a $52.00 price objective for the company. BMO Capital Markets raised Maplebear from a “market perform” rating to an “outperform” rating and set a $58.00 target price on the stock in a research report on Tuesday, November 11th. Fox Advisors downgraded Maplebear from a “strong-buy” rating to a “hold” rating in a report on Thursday, December 18th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Maplebear in a research note on Monday, December 29th. Fifteen investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $51.38.

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.