Maplebear Inc. (NASDAQ:CART) Shares Sold by First Dallas Securities Inc.

First Dallas Securities Inc. trimmed its holdings in Maplebear Inc. (NASDAQ:CART) by 36.9% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 7,700 shares of the company’s stock after selling 4,500 shares during the period. First Dallas Securities Inc.’s holdings in Maplebear were worth $319,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in CART. Wilmington Savings Fund Society FSB purchased a new position in shares of Maplebear during the third quarter worth $33,000. Huntington National Bank acquired a new stake in Maplebear in the third quarter valued at $54,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Maplebear in the third quarter valued at $74,000. KBC Group NV raised its stake in Maplebear by 56.5% in the fourth quarter. KBC Group NV now owns 3,808 shares of the company’s stock valued at $158,000 after buying an additional 1,374 shares in the last quarter. Finally, Williams & Novak LLC acquired a new stake in Maplebear in the fourth quarter valued at $208,000. 63.09% of the stock is currently owned by hedge funds and other institutional investors.

Maplebear Price Performance

Shares of NASDAQ:CART opened at $48.13 on Tuesday. The business’s 50 day simple moving average is $44.10 and its 200-day simple moving average is $40.69. The firm has a market capitalization of $12.36 billion, a price-to-earnings ratio of 32.30, a price-to-earnings-growth ratio of 1.09 and a beta of 1.07. Maplebear Inc. has a 12 month low of $23.59 and a 12 month high of $50.01.

Maplebear (NASDAQ:CART) last announced its quarterly earnings results on Tuesday, November 12th. The company reported $0.42 EPS for the quarter, topping the consensus estimate of $0.22 by $0.20. Maplebear had a return on equity of 13.78% and a net margin of 13.37%. The business had revenue of $852.00 million for the quarter, compared to analyst estimates of $844.03 million. During the same quarter in the previous year, the company earned ($20.86) EPS. The company’s quarterly revenue was up 11.5% on a year-over-year basis. On average, equities analysts anticipate that Maplebear Inc. will post 1.43 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have recently commented on CART. BMO Capital Markets lifted their target price on Maplebear from $39.00 to $48.00 and gave the stock a “market perform” rating in a research report on Wednesday, November 13th. Mizuho began coverage on Maplebear in a research report on Tuesday, January 14th. They set an “outperform” rating and a $55.00 target price on the stock. Stifel Nicolaus lifted their target price on Maplebear from $52.00 to $55.00 and gave the stock a “buy” rating in a research report on Monday, October 28th. BTIG Research upgraded Maplebear from a “neutral” rating to a “buy” rating and set a $58.00 target price on the stock in a research report on Tuesday, January 14th. Finally, JPMorgan Chase & Co. lifted their target price on Maplebear from $47.00 to $52.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 13th. Thirteen investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $48.96.

Insider Buying and Selling

In other news, CEO Fidji Simo sold 20,750 shares of the company’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $42.97, for a total transaction of $891,627.50. Following the completion of the sale, the chief executive officer now directly owns 1,804,243 shares in the company, valued at $77,528,321.71. This represents a 1.14 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CAO Alan Ramsay sold 2,247 shares of the company’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $41.06, for a total value of $92,261.82. Following the sale, the chief accounting officer now owns 89,982 shares of the company’s stock, valued at approximately $3,694,660.92. The trade was a 2.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 79,808 shares of company stock worth $3,569,808 in the last ninety days. Insiders own 36.00% 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.