Thames Capital Management LLC Decreases Stock Holdings in Maplebear Inc. (NASDAQ:CART)

Thames Capital Management LLC reduced its position in shares of Maplebear Inc. (NASDAQ:CART) by 27.9% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 143,057 shares of the company’s stock after selling 55,246 shares during the quarter. Maplebear makes up about 1.6% of Thames Capital Management LLC’s holdings, making the stock its 27th biggest holding. Thames Capital Management LLC’s holdings in Maplebear were worth $5,925,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Stifel Financial Corp boosted its holdings in shares of Maplebear by 10.3% during the third quarter. Stifel Financial Corp now owns 25,561 shares of the company’s stock worth $1,041,000 after purchasing an additional 2,386 shares during the period. State Street Corp grew its position in shares of Maplebear by 48.3% in the 3rd quarter. State Street Corp now owns 2,552,617 shares of the company’s stock worth $103,994,000 after buying an additional 831,795 shares during the last quarter. Two Sigma Advisers LP increased its stake in shares of Maplebear by 27.4% during the third quarter. Two Sigma Advisers LP now owns 1,657,800 shares of the company’s stock valued at $67,539,000 after buying an additional 356,700 shares during the period. Zacks Investment Management bought a new position in shares of Maplebear during the third quarter valued at approximately $4,853,000. Finally, XTX Topco Ltd purchased a new stake in Maplebear in the third quarter worth $977,000. Institutional investors own 63.09% of the company’s stock.

Maplebear Stock Down 6.6 %

Shares of NASDAQ CART opened at $37.37 on Friday. The firm’s 50-day moving average price is $43.98 and its 200-day moving average price is $43.58. Maplebear Inc. has a 52-week low of $29.84 and a 52-week high of $53.44. The company has a market cap of $9.89 billion, a PE ratio of 25.08, a PEG ratio of 1.19 and a beta of 1.19.

Maplebear (NASDAQ:CART) last issued its earnings results on Tuesday, February 25th. The company reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.16. The company 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, equities research analysts anticipate that Maplebear Inc. will post 1.43 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Oppenheimer decreased their price objective on shares of Maplebear from $65.00 to $60.00 and set an “outperform” rating for the company in a report on Wednesday, February 26th. Loop Capital lowered their price objective on shares of Maplebear from $56.00 to $52.00 and set a “buy” rating for the company in a report on Thursday, March 6th. BMO Capital Markets lifted their price objective on Maplebear from $48.00 to $49.00 and gave the company a “market perform” rating in a research report on Wednesday, February 26th. Wells Fargo & Company lowered their target price on Maplebear from $47.00 to $44.00 and set an “equal weight” rating for the company in a research note on Thursday. Finally, Morgan Stanley lifted their price target on Maplebear from $44.00 to $45.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 26th. Thirteen equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Maplebear has a consensus rating of “Moderate Buy” and an average price target of $50.13.

Insider Buying and Selling

In other news, CAO Alan Ramsay sold 2,314 shares of Maplebear stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $46.28, for a total transaction of $107,091.92. Following the transaction, the chief accounting officer now owns 85,421 shares in the company, valued at $3,953,283.88. This trade represents a 2.64 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Fidji Simo sold 2,033 shares of the company’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $40.00, for a total value of $81,320.00. Following the completion of the sale, the chief executive officer now owns 1,654,559 shares of the company’s stock, valued at $66,182,360. This trade represents a 0.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 25,097 shares of company stock valued at $1,087,094 over the last 90 days. Company 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.