Ontario Teachers Pension Plan Board Trims Position in Maplebear Inc. $CART

Ontario Teachers Pension Plan Board lowered its holdings in Maplebear Inc. (NASDAQ:CART) by 56.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 29,093 shares of the company’s stock after selling 37,248 shares during the period. Ontario Teachers Pension Plan Board’s holdings in Maplebear were worth $1,069,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Hantz Financial Services Inc. grew its holdings in Maplebear by 78.6% in the 3rd quarter. Hantz Financial Services Inc. now owns 884 shares of the company’s stock valued at $32,000 after buying an additional 389 shares during the period. Abich Financial Wealth Management LLC acquired a new stake in shares of Maplebear in the third quarter worth approximately $43,000. Elevation Point Wealth Partners LLC acquired a new stake in shares of Maplebear in the second quarter worth approximately $53,000. Huntington National Bank increased its position in Maplebear by 2,288.5% during the second quarter. Huntington National Bank now owns 1,457 shares of the company’s stock worth $66,000 after purchasing an additional 1,396 shares during the last quarter. Finally, Spire Wealth Management increased its position in Maplebear by 48.9% during the second quarter. Spire Wealth Management now owns 1,546 shares of the company’s stock worth $70,000 after purchasing an additional 508 shares during the last quarter. 63.09% of the stock is currently owned by institutional investors and hedge funds.

Maplebear Stock Down 2.1%

Shares of NASDAQ:CART opened at $35.56 on Friday. Maplebear Inc. has a 52-week low of $32.73 and a 52-week high of $53.50. The company has a 50 day moving average of $40.51 and a two-hundred day moving average of $41.54. The company has a market capitalization of $9.34 billion, a price-to-earnings ratio of 22.36, a price-to-earnings-growth ratio of 0.55 and a beta of 1.00.

Insiders Place Their Bets

In related news, General Counsel Morgan Fong sold 4,914 shares of Maplebear stock in a transaction on Monday, December 22nd. The shares were sold at an average price of $45.21, for a total transaction of $222,161.94. Following the sale, the general counsel owned 404,940 shares of the company’s stock, valued at $18,307,337.40. The trade was a 1.20% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 26.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on CART shares. Cantor Fitzgerald boosted their price objective on shares of Maplebear from $45.00 to $54.00 and gave the company an “overweight” rating in a research note on Thursday, January 8th. Fox Advisors downgraded Maplebear from a “strong-buy” rating to a “hold” rating in a research report on Thursday, December 18th. Weiss Ratings restated a “hold (c)” rating on shares of Maplebear in a report on Monday, December 29th. JPMorgan Chase & Co. decreased their target price on Maplebear from $65.00 to $55.00 and set an “overweight” rating for the company in a report on Tuesday, November 11th. Finally, Jefferies Financial Group raised their price target on shares of Maplebear from $41.00 to $48.00 and gave the company a “hold” rating in a report on Thursday, December 11th. Fifteen equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $51.38.

Maplebear Company Profile

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.