SC US Ttgp LTD. Sells 20,701 Shares of Maplebear Inc. $CART

SC US Ttgp LTD. cut its holdings in shares of Maplebear Inc. (NASDAQ:CART) by 0.1% during the fourth quarter, Holdings Channel.com reports. The fund owned 27,995,267 shares of the company’s stock after selling 20,701 shares during the period. Maplebear comprises approximately 9.0% of SC US Ttgp LTD.’s holdings, making the stock its 4th biggest position. SC US Ttgp LTD. owned approximately 0.11% of Maplebear worth $1,259,227,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently modified their holdings of CART. Viking Global Investors LP acquired a new stake in shares of Maplebear during the 2nd quarter valued at about $169,782,000. Marshall Wace LLP acquired a new stake in shares of Maplebear during the 4th quarter valued at about $126,206,000. Holocene Advisors LP acquired a new stake in shares of Maplebear during the 3rd quarter valued at about $90,167,000. Norges Bank acquired a new stake in shares of Maplebear during the 4th quarter valued at about $97,221,000. Finally, Dimensional Fund Advisors LP grew its position in shares of Maplebear by 114.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,792,673 shares of the company’s stock valued at $170,594,000 after acquiring an additional 2,026,567 shares during the period. 63.09% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CART has been the topic of a number of analyst reports. Wall Street Zen cut Maplebear from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Weiss Ratings upgraded Maplebear from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, May 11th. Wells Fargo & Company boosted their price objective on Maplebear from $45.00 to $47.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 7th. Jefferies Financial Group upgraded Maplebear from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $38.00 to $45.00 in a research note on Monday, March 30th. Finally, Barclays boosted their price objective on Maplebear from $65.00 to $69.00 and gave the stock an “overweight” rating in a research note on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $51.09.

Insider Activity at Maplebear

In other news, Director Ravi Gupta sold 181,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $41.51, for a total transaction of $7,513,310.00. Following the transaction, the director directly owned 741,523 shares in the company, valued at $30,780,619.73. The trade was a 19.62% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Lisa Blackwood-Kapral sold 9,390 shares of the business’s stock in a transaction that occurred on Wednesday, April 15th. The stock was sold at an average price of $40.25, for a total value of $377,947.50. Following the transaction, the chief accounting officer owned 58,971 shares in the company, valued at approximately $2,373,582.75. This represents a 13.74% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 24.00% of the company’s stock.

Maplebear Trading Down 0.0%

NASDAQ:CART opened at $41.24 on Monday. Maplebear Inc. has a 12 month low of $32.73 and a 12 month high of $53.50. The stock has a 50 day moving average of $40.98 and a two-hundred day moving average of $40.27. The firm has a market cap of $9.69 billion, a P/E ratio of 23.04, a price-to-earnings-growth ratio of 0.57 and a beta of 0.88.

Maplebear (NASDAQ:CART) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $0.57 EPS for the quarter, missing the consensus estimate of $0.58 by ($0.01). The firm had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $1.01 billion. Maplebear had a return on equity of 18.67% and a net margin of 12.50%.Maplebear’s quarterly revenue was up 13.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.37 earnings per share. On average, research analysts forecast that Maplebear Inc. will post 2.45 earnings per share for the current 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.