Maplebear Inc. $CART Shares Sold by Northern Right Capital Management L.P.

Northern Right Capital Management L.P. trimmed its stake in Maplebear Inc. (NASDAQ:CART) by 93.8% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 29,778 shares of the company’s stock after selling 448,244 shares during the quarter. Maplebear comprises 0.3% of Northern Right Capital Management L.P.’s portfolio, making the stock its 24th largest position. Northern Right Capital Management L.P.’s holdings in Maplebear were worth $1,095,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Hantz Financial Services Inc. boosted its holdings in shares of Maplebear by 78.6% in the 3rd quarter. Hantz Financial Services Inc. now owns 884 shares of the company’s stock valued at $32,000 after purchasing an additional 389 shares during the last quarter. Abich Financial Wealth Management LLC acquired a new stake in shares of Maplebear during the 3rd quarter worth $43,000. Elevation Point Wealth Partners LLC purchased a new position in shares of Maplebear in the 2nd quarter worth $53,000. CWM LLC raised its position in shares of Maplebear by 42.2% in the 3rd quarter. CWM LLC now owns 1,634 shares of the company’s stock worth $60,000 after buying an additional 485 shares during the period. Finally, NewEdge Advisors LLC boosted its holdings in Maplebear by 71.6% in the first quarter. NewEdge Advisors LLC now owns 1,673 shares of the company’s stock valued at $67,000 after acquiring an additional 698 shares during the last quarter. Institutional investors and hedge funds own 63.09% of the company’s stock.

Maplebear Stock Up 1.4%

Shares of Maplebear stock opened at $38.76 on Tuesday. Maplebear Inc. has a 12-month low of $32.73 and a 12-month high of $53.50. The stock has a 50 day moving average price of $37.90 and a two-hundred day moving average price of $40.42. The stock has a market capitalization of $9.33 billion, a P/E ratio of 24.38, a PEG ratio of 0.58 and a beta of 0.98.

Wall Street Analyst Weigh In

CART has been the subject of a number of research reports. Fox Advisors downgraded Maplebear from a “strong-buy” rating to a “hold” rating in a research report on Thursday, December 18th. Cantor Fitzgerald raised their price objective on Maplebear from $45.00 to $54.00 and gave the stock an “overweight” rating in a report on Thursday, January 8th. Jefferies Financial Group lifted their price objective on Maplebear from $41.00 to $48.00 and gave the company a “hold” rating in a research note on Thursday, December 11th. Wells Fargo & Company decreased their target price on Maplebear from $47.00 to $43.00 and set an “equal weight” rating for the company in a report on Friday, February 13th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Maplebear in a research report on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, eleven have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $51.04.

Insider Activity

In related news, General Counsel Morgan Fong sold 126,083 shares of the company’s stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $37.09, for a total transaction of $4,676,418.47. Following the completion of the sale, the general counsel directly owned 386,643 shares of the company’s stock, valued at approximately $14,340,588.87. This represents a 24.59% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 26.00% of the company’s stock.

About Maplebear

Maplebear, Inc, doing business as Instacart, operates a leading online grocery and essentials marketplace that connects consumers, retail partners and personal shoppers through its digital platform. The company enables customers to order groceries, household items and specialty products for same-day or scheduled delivery, as well as in-store pickup. By integrating its technology with retailers’ existing inventory and point-of-sale systems, Maplebear streamlines the shopping experience and provides real-time availability and pricing.

Founded in 2012 and headquartered in San Francisco, Maplebear has grown from a regional startup to a publicly traded company listed on NASDAQ under the ticker CART.