Bailard Inc. Reduces Stock Position in Maplebear Inc. $CART

Bailard Inc. trimmed its holdings in shares of Maplebear Inc. (NASDAQ:CART - Free Report) by 13.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 58,189 shares of the company's stock after selling 9,015 shares during the quarter. Bailard Inc.'s holdings in Maplebear were worth $2,632,000 at the end of the most recent reporting period.

• Instacart: Is it Time to Back Up the Cart on the Stock?

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in Maplebear by 3.4% during the first quarter. Vanguard Group Inc. now owns 16,514,830 shares of the company's stock valued at $658,777,000 after purchasing an additional 546,472 shares during the period. Victory Capital Management Inc. raised its holdings in Maplebear by 62.8% during the 1st quarter. Victory Capital Management Inc. now owns 7,368,232 shares of the company's stock valued at $293,919,000 after buying an additional 2,841,559 shares during the period. T. Rowe Price Investment Management Inc. lifted its position in Maplebear by 10.2% in the first quarter. T. Rowe Price Investment Management Inc. now owns 5,226,979 shares of the company's stock worth $208,505,000 after buying an additional 482,327 shares during the last quarter. Boston Partners boosted its stake in Maplebear by 93.3% during the second quarter. Boston Partners now owns 3,961,838 shares of the company's stock worth $179,261,000 after buying an additional 1,911,771 shares during the period. Finally, Altimeter Capital Management LP increased its position in Maplebear by 31.9% during the first quarter. Altimeter Capital Management LP now owns 3,348,128 shares of the company's stock valued at $133,557,000 after acquiring an additional 810,510 shares during the last quarter. Hedge funds and other institutional investors own 63.09% of the company's stock.

Maplebear Price Performance

CART stock opened at $39.41 on Thursday. Maplebear Inc. has a 1-year low of $34.78 and a 1-year high of $53.50. The business has a 50-day moving average price of $40.31 and a 200 day moving average price of $43.91. The company has a market capitalization of $10.35 billion, a P/E ratio of 21.65, a PEG ratio of 1.28 and a beta of 1.10.

• Instacart Is Revolutionizing Groceries: Why It's Time to Invest

Maplebear (NASDAQ:CART - Get Free Report) last issued its earnings results on Monday, November 10th. The company reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.01. Maplebear had a net margin of 14.09% and a return on equity of 15.72%. The company had revenue of $939.00 million for the quarter, compared to analysts' expectations of $933.76 million. During the same period in the prior year, the business earned $0.42 EPS. The firm's quarterly revenue was up 10.2% on a year-over-year basis. On average, analysts anticipate that Maplebear Inc. will post 1.43 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently commented on CART shares. Wedbush reaffirmed an "underperform" rating and set a $42.00 price target (down from $55.00) on shares of Maplebear in a research note on Thursday, August 21st. Piper Sandler cut Maplebear from an "overweight" rating to a "neutral" rating and set a $41.00 target price on the stock. in a research note on Friday, October 3rd. Fox Advisors raised Maplebear from a "hold" rating to a "strong-buy" rating in a research note on Friday, October 3rd. BTIG Research restated a "neutral" rating and set a $55.00 price objective on shares of Maplebear in a report on Tuesday, September 30th. Finally, Sanford C. Bernstein increased their target price on Maplebear from $55.00 to $60.00 and gave the stock an "outperform" rating in a research note on Monday, July 21st. Two research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $51.40.

• DoorDash Stock Sprints Higher on EPS Beat and Raised Guidance

Read Our Latest Report on CART

Insider Activity

In other Maplebear news, General Counsel Morgan Fong sold 3,546 shares of the stock in a transaction on Monday, October 20th. The stock was sold at an average price of $38.85, for a total transaction of $137,762.10. Following the sale, the general counsel owned 427,523 shares of the company's stock, valued at approximately $16,609,268.55. This trade represents a 0.82% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Fidji Simo sold 7,140 shares of Maplebear stock in a transaction on Monday, September 15th. The shares were sold at an average price of $47.30, for a total value of $337,722.00. Following the completion of the transaction, the director owned 573,807 shares in the company, valued at $27,141,071.10. This represents a 1.23% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 27,556 shares of company stock worth $1,179,482. Corporate insiders own 26.00% of the company's stock.

About Maplebear

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.

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