HighVista Strategies LLC Sells 14,488 Shares of Maplebear Inc. (NASDAQ:CART)

HighVista Strategies LLC trimmed its position in Maplebear Inc. (NASDAQ:CART) by 15.6% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 78,500 shares of the company’s stock after selling 14,488 shares during the quarter. Maplebear makes up 1.1% of HighVista Strategies LLC’s holdings, making the stock its 24th largest position. HighVista Strategies LLC’s holdings in Maplebear were worth $3,198,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the company. Pacer Advisors Inc. bought a new stake in Maplebear in the third quarter valued at approximately $158,701,000. Maverick Capital Ltd. lifted its holdings in Maplebear by 19.7% during the 3rd quarter. Maverick Capital Ltd. now owns 2,684,425 shares of the company’s stock valued at $109,363,000 after purchasing an additional 441,156 shares during the last quarter. Southpoint Capital Advisors LP boosted its position in Maplebear by 56.3% during the third quarter. Southpoint Capital Advisors LP now owns 2,500,000 shares of the company’s stock worth $101,850,000 after purchasing an additional 900,000 shares during the period. Sculptor Capital LP acquired a new position in shares of Maplebear in the second quarter valued at $77,361,000. Finally, Federated Hermes Inc. increased its holdings in shares of Maplebear by 102.2% in the second quarter. Federated Hermes Inc. now owns 1,734,264 shares of the company’s stock valued at $55,739,000 after purchasing an additional 876,439 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 $43.51 on Tuesday. Maplebear Inc. has a fifty-two week low of $22.13 and a fifty-two week high of $50.01. The stock’s fifty day moving average price is $43.20 and its two-hundred day moving average price is $37.14. The company has a market cap of $11.18 billion, a PE ratio of 29.20, a P/E/G ratio of 1.13 and a beta of 1.12.

Maplebear (NASDAQ:CART) last released its quarterly earnings data on Tuesday, November 12th. The company reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.20. Maplebear had a return on equity of 13.78% and a net margin of 13.37%. The business had revenue of $852.00 million for the quarter, compared to analyst estimates of $844.03 million. During the same period last year, the firm posted ($20.86) earnings per share. Maplebear’s revenue was up 11.5% compared to the same quarter last year. On average, equities analysts predict that Maplebear Inc. will post 1.4 EPS for the current fiscal year.

Insider Activity

In other Maplebear news, CEO Fidji Simo sold 20,750 shares of the stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $44.39, for a total value of $921,092.50. Following the completion of the transaction, the chief executive officer now directly owns 1,803,278 shares in the company, valued at approximately $80,047,510.42. This trade represents a 1.14 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Morgan Fong sold 10,992 shares of the business’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $41.38, for a total value of $454,848.96. Following the sale, the general counsel now owns 298,984 shares in the company, valued at approximately $12,371,957.92. This trade represents a 3.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 110,954 shares of company stock worth $4,890,405. Corporate insiders own 36.00% of the company’s stock.

Wall Street Analysts Forecast Growth

CART has been the subject of several research analyst reports. JMP Securities lifted their target price on shares of Maplebear from $42.00 to $51.00 and gave the stock a “market outperform” rating in a report on Wednesday, November 13th. Macquarie raised their price objective on shares of Maplebear from $50.00 to $52.00 and gave the stock an “outperform” rating in a research report on Thursday, November 14th. Oppenheimer upped their target price on Maplebear from $55.00 to $60.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Needham & Company LLC reissued a “hold” rating on shares of Maplebear in a report on Wednesday, November 13th. Finally, Piper Sandler upped their price objective on Maplebear from $50.00 to $58.00 and gave the company an “overweight” rating in a report on Wednesday, November 13th. Twelve analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $47.29.

Maplebear Company 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.