Schroder Investment Management Group Decreases Holdings in Maplebear Inc. (NASDAQ:CART)

Schroder Investment Management Group lowered its holdings in Maplebear Inc. (NASDAQ:CART) by 94.2% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 8,959 shares of the company’s stock after selling 145,817 shares during the quarter. Schroder Investment Management Group’s holdings in Maplebear were worth $377,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Jones Financial Companies Lllp raised its holdings in Maplebear by 46.6% during the fourth quarter. Jones Financial Companies Lllp now owns 698 shares of the company’s stock worth $29,000 after purchasing an additional 222 shares in the last quarter. Allworth Financial LP grew its position in shares of Maplebear by 101.4% in the 4th quarter. Allworth Financial LP now owns 834 shares of the company’s stock valued at $37,000 after buying an additional 420 shares during the last quarter. CIBC Asset Management Inc raised its stake in Maplebear by 5.4% during the 4th quarter. CIBC Asset Management Inc now owns 8,554 shares of the company’s stock worth $354,000 after acquiring an additional 440 shares in the last quarter. Coldstream Capital Management Inc. lifted its position in Maplebear by 1.6% in the third quarter. Coldstream Capital Management Inc. now owns 31,745 shares of the company’s stock valued at $1,294,000 after acquiring an additional 490 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB acquired a new position in Maplebear in the third quarter valued at $33,000. Institutional investors and hedge funds own 63.09% of the company’s stock.

Maplebear Stock Performance

Maplebear stock opened at $37.12 on Wednesday. Maplebear Inc. has a fifty-two week low of $29.84 and a fifty-two week high of $53.44. The firm has a market capitalization of $9.82 billion, a price-to-earnings ratio of 24.91, a price-to-earnings-growth ratio of 1.19 and a beta of 1.20. The stock’s fifty day moving average is $43.40 and its two-hundred day moving average is $43.50.

Maplebear (NASDAQ:CART) last issued its quarterly earnings data on Tuesday, February 25th. The company reported $0.53 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.16. The firm had revenue of $883.00 million for the quarter, compared to analysts’ expectations of $889.98 million. Maplebear had a net margin of 13.37% and a return on equity of 13.78%. As a group, sell-side analysts forecast that Maplebear Inc. will post 1.43 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on CART shares. Mizuho reduced their target price on Maplebear from $55.00 to $52.00 and set an “outperform” rating for the company in a report on Wednesday, February 26th. Morgan Stanley increased their price objective on Maplebear from $44.00 to $45.00 and gave the company an “equal weight” rating in a report on Wednesday, February 26th. Loop Capital cut their target price on shares of Maplebear from $56.00 to $52.00 and set a “buy” rating on the stock in a report on Thursday, March 6th. JPMorgan Chase & Co. dropped their price objective on shares of Maplebear from $50.00 to $44.00 and set an “overweight” rating on the stock in a research note on Tuesday. Finally, Needham & Company LLC reiterated a “buy” rating and set a $56.00 target price on shares of Maplebear in a research note on Wednesday, February 26th. Thirteen equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $49.88.

Insider Transactions at Maplebear

In other Maplebear news, CAO Alan Ramsay sold 2,314 shares of the stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $46.28, for a total transaction of $107,091.92. Following the sale, the chief accounting officer now owns 85,421 shares in the company, valued at approximately $3,953,283.88. This represents a 2.64 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Fidji Simo sold 20,750 shares of the company’s stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $43.31, for a total value of $898,682.50. Following the completion of the sale, the chief executive officer now owns 1,662,692 shares in the company, valued at $72,011,190.52. This represents a 1.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 25,097 shares of company stock valued at $1,087,094 in the last ninety days. Corporate 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.