UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 15,531 Shares of Maplebear Inc. $CART

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lowered its stake in Maplebear Inc. (NASDAQ:CART) by 4.3% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 347,020 shares of the company’s stock after selling 15,531 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Maplebear were worth $16,431,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in CART. BlackRock Inc. bought a new position in shares of Maplebear during the 2nd quarter valued at $750,477,000. State Street Corp grew its holdings in shares of Maplebear by 1.0% in the fourth quarter. State Street Corp now owns 5,461,637 shares of the company’s stock worth $245,664,000 after acquiring an additional 54,872 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of Maplebear by 31.4% in the first quarter. Dimensional Fund Advisors LP now owns 4,981,960 shares of the company’s stock worth $186,618,000 after acquiring an additional 1,189,287 shares during the period. Viking Global Investors LP purchased a new stake in Maplebear during the second quarter valued at $169,782,000. Finally, Geode Capital Management LLC increased its position in Maplebear by 1.6% during the fourth quarter. Geode Capital Management LLC now owns 3,526,124 shares of the company’s stock valued at $158,640,000 after acquiring an additional 54,010 shares during the last quarter. Institutional investors own 63.09% of the company’s stock.

Insider Activity at Maplebear

In other Maplebear news, insider Morgan Fong sold 18,390 shares of the company’s stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $49.96, for a total value of $918,764.40. Following the completion of the transaction, the insider directly owned 529,911 shares in the company, valued at $26,474,353.56. This represents a 3.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ravi Gupta sold 150,000 shares of the stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $50.61, for a total transaction of $7,591,500.00. Following the completion of the sale, the director directly owned 591,523 shares of the company’s stock, valued at approximately $29,936,979.03. This trade represents a 20.23% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 24.00% of the stock is owned by insiders.

Analyst Ratings Changes

Several brokerages have issued reports on CART. Argus raised their target price on Maplebear from $50.00 to $58.00 and gave the stock a “buy” rating in a research report on Wednesday. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Maplebear in a research report on Friday, August 7th. Rosenblatt Securities initiated coverage on shares of Maplebear in a research note on Tuesday, September 1st. They issued a “neutral” rating and a $55.00 price objective on the stock. JPMorgan Chase & Co. raised their price objective on shares of Maplebear from $55.00 to $62.00 and gave the stock an “overweight” rating in a report on Friday, August 7th. Finally, BNP Paribas Exane upgraded shares of Maplebear from an “underperform” rating to a “neutral” rating and set a $56.00 target price for the company in a research report on Friday, August 7th. Fifteen analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to MarketBeat.com, Maplebear currently has a consensus rating of “Moderate Buy” and an average target price of $56.14.

Maplebear Stock Down 1.3%

Shares of CART opened at $51.07 on Friday. The business has a 50-day simple moving average of $47.82 and a two-hundred day simple moving average of $42.77. Maplebear Inc. has a 52 week low of $32.73 and a 52 week high of $52.68. The stock has a market cap of $11.82 billion, a price-to-earnings ratio of 27.91, a PEG ratio of 1.00 and a beta of 0.80.

Maplebear (NASDAQ:CART) last posted its quarterly earnings data on Thursday, August 6th. The company reported $0.45 earnings per share for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.09). The company had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $1.03 billion. Maplebear had a net margin of 11.97% and a return on equity of 20.19%. The firm’s quarterly revenue was up 14.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.41 earnings per share. On average, equities analysts anticipate that Maplebear Inc. will post 2.33 earnings per share for the current fiscal year.

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.