154,457 Maplebear Inc. $CART Shares Sold by Robeco Institutional Asset Management B.V.

Robeco Institutional Asset Management B.V. trimmed its holdings in shares of Maplebear Inc. (NASDAQ:CART) by 27.8% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 401,258 shares of the company’s stock after selling 154,457 shares during the period. Robeco Institutional Asset Management B.V. owned approximately 0.17% of Maplebear worth $17,302,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. NFSG Corp purchased a new stake in shares of Maplebear in the 3rd quarter worth approximately $26,000. Pinnacle Bancorp Inc. purchased a new position in Maplebear during the first quarter valued at $25,000. CX Institutional raised its stake in Maplebear by 91.5% during the third quarter. CX Institutional now owns 944 shares of the company’s stock valued at $41,000 after buying an additional 451 shares during the last quarter. Versant Capital Management Inc raised its stake in Maplebear by 94.7% during the second quarter. Versant Capital Management Inc now owns 1,215 shares of the company’s stock valued at $58,000 after buying an additional 591 shares during the last quarter. Finally, Allworth Financial LP bought a new stake in Maplebear in the second quarter worth $62,000. 63.09% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on CART. Barclays raised their price target on Maplebear from $69.00 to $77.00 and gave the company an “overweight” rating in a report on Friday, August 7th. Wall Street Zen cut shares of Maplebear from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Benchmark upped their price target on shares of Maplebear from $55.00 to $63.00 and gave the stock a “buy” rating in a research note on Friday, August 7th. Needham & Company LLC lifted their target price on shares of Maplebear from $55.00 to $63.00 and gave the stock a “buy” rating in a report on Friday, August 7th. Finally, Oppenheimer upped their target price on shares of Maplebear from $60.00 to $65.00 and gave the stock an “outperform” rating in a research note on Friday, August 7th. Fourteen analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $58.24.

Insider Buying and Selling

In other Maplebear news, Director Ravi Gupta sold 150,000 shares of the company’s stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $50.61, for a total transaction of $7,591,500.00. Following the transaction, the director owned 591,523 shares in the company, valued at approximately $29,936,979.03. This represents a 20.23% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Lisa Blackwood-Kapral sold 3,016 shares of the firm’s stock in a transaction dated Thursday, October 15th. The shares were sold at an average price of $49.58, for a total transaction of $149,533.28. Following the sale, the chief accounting officer directly owned 34,699 shares in the company, valued at approximately $1,720,376.42. The trade was a 8.00% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 192,813 shares of company stock worth $9,629,020. 24.00% of the stock is owned by corporate insiders.

Maplebear Trading Up 9.2%

Maplebear stock opened at $56.44 on Friday. The firm has a market cap of $13.07 billion, a price-to-earnings ratio of 30.84, a PEG ratio of 1.00 and a beta of 0.87. The stock has a fifty day simple moving average of $48.20 and a two-hundred day simple moving average of $45.19. Maplebear Inc. has a 12 month low of $32.73 and a 12 month high of $57.98.

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

Maplebear Profile

Maplebear Inc, doing business as Instacart, operates a technology-enabled grocery marketplace that connects consumers with retailers and personal shoppers. Through its website and mobile applications, customers can order groceries and other household products for delivery or pickup from participating supermarkets, specialty food stores, convenience retailers and other merchants.

The company also provides retailers with e-commerce, fulfillment and advertising solutions. Its platform supports online storefronts, order management, delivery logistics, customer engagement and data-driven marketing, allowing retail partners to offer digital shopping services and reach consumers through Instacart’s marketplace.

Founded in 2012, Maplebear serves customers across the United States and Canada.