Maplebear Inc. (NASDAQ:CART) is Industry Ventures L.L.C.’s Largest Position

Industry Ventures L.L.C. lowered its stake in shares of Maplebear Inc. (NASDAQ:CART) by 18.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 802,443 shares of the company’s stock after selling 178,015 shares during the period. Maplebear comprises 75.7% of Industry Ventures L.L.C.’s portfolio, making the stock its largest holding. Industry Ventures L.L.C. owned 0.30% of Maplebear worth $32,692,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of the company. nVerses Capital LLC lifted its holdings in shares of Maplebear by 1,600.0% during the 2nd quarter. nVerses Capital LLC now owns 1,700 shares of the company’s stock valued at $55,000 after acquiring an additional 1,600 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Maplebear in the third quarter worth about $74,000. Quarry LP increased its stake in shares of Maplebear by 269.5% in the second quarter. Quarry LP now owns 3,928 shares of the company’s stock worth $126,000 after buying an additional 2,865 shares during the last quarter. Oppenheimer & Co. Inc. bought a new position in shares of Maplebear during the first quarter worth about $213,000. Finally, Watts Gwilliam & Co. LLC acquired a new stake in shares of Maplebear during the 3rd quarter valued at approximately $231,000. Hedge funds and other institutional investors own 63.09% of the company’s stock.

Wall Street Analysts Forecast Growth

CART has been the topic of a number of recent research reports. Jefferies Financial Group began coverage on shares of Maplebear in a report on Wednesday, October 16th. They issued a “hold” rating and a $43.00 target price on the stock. Wedbush upped their price target on shares of Maplebear from $35.00 to $38.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th. Macquarie increased their price target on Maplebear from $44.00 to $45.00 and gave the company an “outperform” rating in a research note on Thursday, August 8th. Citigroup raised their price target on shares of Maplebear from $44.00 to $47.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. Finally, Morgan Stanley lowered their price target on shares of Maplebear from $45.00 to $41.00 and set an “equal weight” rating on the stock in a report on Tuesday, September 24th. Twelve investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $43.57.

Maplebear Stock Performance

NASDAQ:CART opened at $44.66 on Wednesday. The company has a market cap of $11.82 billion and a price-to-earnings ratio of -2.26. Maplebear Inc. has a fifty-two week low of $22.13 and a fifty-two week high of $45.20. The stock has a fifty day moving average price of $39.44 and a 200-day moving average price of $35.70.

Maplebear (NASDAQ:CART) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.07. The company had revenue of $823.00 million for the quarter, compared to analyst estimates of $806.35 million. Maplebear had a negative net margin of 52.21% and a negative return on equity of 49.98%. Maplebear’s revenue for the quarter was up 14.9% compared to the same quarter last year. Research analysts predict that Maplebear Inc. will post 1.14 EPS for the current fiscal year.

Insider Buying and Selling

In other Maplebear news, CAO Alan Ramsay sold 2,486 shares of the company’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $41.39, for a total value of $102,895.54. Following the completion of the transaction, the chief accounting officer now directly owns 99,225 shares in the company, valued at approximately $4,106,922.75. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, General Counsel Morgan Fong sold 8,345 shares of the business’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $40.00, for a total transaction of $333,800.00. Following the completion of the sale, the general counsel now owns 330,886 shares in the company, valued at $13,235,440. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Alan Ramsay sold 2,486 shares of Maplebear stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $41.39, for a total value of $102,895.54. Following the transaction, the chief accounting officer now owns 99,225 shares of the company’s stock, valued at $4,106,922.75. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 68,707 shares of company stock worth $2,652,050 in the last 90 days. Insiders own 36.00% of the company’s stock.

Maplebear Profile

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.