Maplebear Inc. (NASDAQ:CART) Stock Holdings Trimmed by ING Groep NV

ING Groep NV decreased its holdings in Maplebear Inc. (NASDAQ:CART) by 65.8% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 54,200 shares of the company’s stock after selling 104,400 shares during the quarter. ING Groep NV’s holdings in Maplebear were worth $2,245,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of CART. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Maplebear in the third quarter worth about $74,000. New York State Teachers Retirement System lifted its stake in shares of Maplebear by 704.1% in the 3rd quarter. New York State Teachers Retirement System now owns 15,824 shares of the company’s stock worth $645,000 after acquiring an additional 13,856 shares during the period. US Bancorp DE boosted its holdings in shares of Maplebear by 429.2% in the third quarter. US Bancorp DE now owns 10,690 shares of the company’s stock valued at $436,000 after acquiring an additional 8,670 shares in the last quarter. Farther Finance Advisors LLC increased its stake in shares of Maplebear by 26.7% during the third quarter. Farther Finance Advisors LLC now owns 13,757 shares of the company’s stock valued at $560,000 after acquiring an additional 2,901 shares during the period. Finally, Washington University bought a new stake in Maplebear during the third quarter worth approximately $238,000. 63.09% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. JPMorgan Chase & Co. raised their target price on Maplebear from $47.00 to $52.00 and gave the company an “overweight” rating in a research note on Wednesday, November 13th. Robert W. Baird raised their price objective on shares of Maplebear from $44.00 to $51.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Piper Sandler boosted their target price on shares of Maplebear from $50.00 to $58.00 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. Deutsche Bank Aktiengesellschaft initiated coverage on Maplebear in a research report on Tuesday, December 3rd. They set a “hold” rating and a $37.00 price objective for the company. Finally, Mizuho initiated coverage on Maplebear in a report on Tuesday, January 14th. They issued an “outperform” rating and a $55.00 target price on the stock. Thirteen analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $48.96.

Insider Activity at Maplebear

In other news, CAO Alan Ramsay sold 2,247 shares of the stock in a transaction on Friday, December 20th. The shares were sold at an average price of $42.14, for a total transaction of $94,688.58. Following the transaction, the chief accounting officer now owns 87,735 shares in the company, valued at $3,697,152.90. This represents a 2.50 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Fidji Simo sold 20,750 shares of the firm’s stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $42.74, for a total transaction of $886,855.00. Following the transaction, the chief executive officer now owns 1,771,993 shares in the company, valued at $75,734,980.82. This represents a 1.16 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 46,061 shares of company stock valued at $1,980,263. 36.00% of the stock is currently owned by corporate insiders.

Maplebear Price Performance

Shares of Maplebear stock opened at $52.32 on Friday. The firm has a market cap of $13.44 billion, a price-to-earnings ratio of 35.11, a P/E/G ratio of 1.19 and a beta of 1.07. The stock has a 50-day simple moving average of $46.20 and a 200-day simple moving average of $42.37. Maplebear Inc. has a 52-week low of $28.56 and a 52-week high of $53.44.

Maplebear Company Profile

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.