Alpha DNA Investment Management LLC Lowers Stock Holdings in Maplebear Inc. (NASDAQ:CART)

Alpha DNA Investment Management LLC lessened its holdings in Maplebear Inc. (NASDAQ:CART) by 15.1% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 12,606 shares of the company’s stock after selling 2,250 shares during the period. Alpha DNA Investment Management LLC’s holdings in Maplebear were worth $514,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of CART. Cerity Partners LLC bought a new position in shares of Maplebear in the third quarter worth about $1,442,000. Charles Schwab Investment Management Inc. boosted its stake in Maplebear by 5,191.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,489,655 shares of the company’s stock worth $60,689,000 after purchasing an additional 1,461,501 shares during the period. Pacer Advisors Inc. purchased a new stake in Maplebear during the 3rd quarter valued at approximately $158,701,000. AlpInvest Partners B.V. bought a new stake in shares of Maplebear during the third quarter valued at approximately $24,342,000. Finally, Carlyle Group Inc. bought a new stake in shares of Maplebear during the third quarter valued at approximately $558,000. 63.09% of the stock is owned by institutional investors.

Insider Buying and Selling at Maplebear

In related news, CEO Fidji Simo sold 33,000 shares of the business’s stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $35.27, for a total transaction of $1,163,910.00. Following the transaction, the chief executive officer now directly owns 1,844,778 shares in the company, valued at $65,065,320.06. The trade was a 1.76 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Morgan Fong sold 29,253 shares of the company’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $48.03, for a total value of $1,405,021.59. Following the transaction, the general counsel now directly owns 258,406 shares in the company, valued at $12,411,240.18. This represents a 10.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 123,204 shares of company stock worth $5,162,688 over the last quarter. Insiders own 36.00% of the company’s stock.

Maplebear Stock Performance

Shares of CART opened at $43.22 on Friday. The stock has a market capitalization of $11.10 billion, a PE ratio of 29.01, a PEG ratio of 1.12 and a beta of 1.12. The company has a 50 day moving average price of $42.82 and a 200-day moving average price of $36.83. Maplebear Inc. has a fifty-two week low of $22.13 and a fifty-two week high of $50.01.

Maplebear (NASDAQ:CART) last posted its earnings results on Tuesday, November 12th. The company reported $0.42 earnings per share for the quarter, topping analysts’ consensus estimates of $0.22 by $0.20. Maplebear had a return on equity of 13.78% and a net margin of 13.37%. The company had revenue of $852.00 million during the quarter, compared to analyst estimates of $844.03 million. During the same quarter in the prior year, the business earned ($20.86) earnings per share. Maplebear’s revenue was up 11.5% on a year-over-year basis. Equities research analysts forecast that Maplebear Inc. will post 1.4 EPS for the current year.

Wall Street Analyst Weigh In

CART has been the subject of a number of research reports. Stifel Nicolaus upped their target price on shares of Maplebear from $52.00 to $55.00 and gave the stock a “buy” rating in a research report on Monday, October 28th. BMO Capital Markets raised their price objective on Maplebear from $39.00 to $48.00 and gave the company a “market perform” rating in a research report on Wednesday, November 13th. JMP Securities boosted their target price on Maplebear from $42.00 to $51.00 and gave the stock a “market outperform” rating in a research report on Wednesday, November 13th. Bank of America raised their price target on Maplebear from $50.00 to $51.00 and gave the company a “neutral” rating in a report on Wednesday, November 13th. Finally, Wedbush upped their price objective on Maplebear from $35.00 to $38.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. Twelve research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $47.29.

Maplebear 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.