Penserra Capital Management LLC Sells 21,864 Shares of Maplebear Inc. (NASDAQ:CART)

Penserra Capital Management LLC reduced its position in Maplebear Inc. (NASDAQ:CART) by 18.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 94,787 shares of the company’s stock after selling 21,864 shares during the period. Penserra Capital Management LLC’s holdings in Maplebear were worth $3,861,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. CIBC Asset Management Inc increased its stake in shares of Maplebear by 3.7% in the 3rd quarter. CIBC Asset Management Inc now owns 8,114 shares of the company’s stock worth $331,000 after purchasing an additional 286 shares in the last quarter. Oppenheimer & Co. Inc. increased its holdings in Maplebear by 5.1% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 12,090 shares of the company’s stock valued at $493,000 after acquiring an additional 584 shares during the last quarter. Creative Planning lifted its stake in Maplebear by 9.5% in the 2nd quarter. Creative Planning now owns 9,566 shares of the company’s stock worth $307,000 after purchasing an additional 831 shares in the last quarter. Huntington National Bank bought a new position in shares of Maplebear during the 3rd quarter valued at about $54,000. Finally, nVerses Capital LLC increased its holdings in shares of Maplebear by 1,600.0% in the second quarter. nVerses Capital LLC now owns 1,700 shares of the company’s stock worth $55,000 after purchasing an additional 1,600 shares during the last quarter. Hedge funds and other institutional investors own 63.09% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Barclays raised their price target on Maplebear from $48.00 to $56.00 and gave the company an “overweight” rating in a report on Wednesday, November 13th. Cantor Fitzgerald reiterated an “overweight” rating and set a $45.00 price objective on shares of Maplebear in a research report on Monday, October 7th. JPMorgan Chase & Co. boosted their target price on shares of Maplebear from $47.00 to $52.00 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. Macquarie lifted their price target on Maplebear from $50.00 to $52.00 and gave the stock an “outperform” rating in a research report on Thursday, November 14th. Finally, JMP Securities upped their price objective on Maplebear from $42.00 to $51.00 and gave the company a “market outperform” rating in a research report on Wednesday, November 13th. Twelve equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, Maplebear currently has a consensus rating of “Moderate Buy” and an average target price of $47.29.

Insider Activity

In other Maplebear news, General Counsel Morgan Fong sold 8,345 shares of the business’s stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $40.00, for a total transaction of $333,800.00. Following the sale, the general counsel now owns 330,886 shares of the company’s stock, valued at approximately $13,235,440. The trade was a 2.46 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Fidji Simo sold 33,000 shares of the firm’s stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $35.27, for a total value of $1,163,910.00. Following the completion of the transaction, the chief executive officer now owns 1,844,778 shares of the company’s stock, valued at $65,065,320.06. This trade represents a 1.76 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 123,204 shares of company stock worth $5,162,688. Corporate insiders own 36.00% of the company’s stock.

Maplebear Trading Up 0.9 %

Shares of Maplebear stock opened at $43.61 on Tuesday. Maplebear Inc. has a 12 month low of $22.13 and a 12 month high of $50.01. The stock’s fifty day moving average price is $42.95 and its 200-day moving average price is $36.88. The firm has a market cap of $11.20 billion, a P/E ratio of 29.27, a P/E/G ratio of 1.12 and a beta of 1.12.

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

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.