Alpine Woods Capital Investors LLC Cuts Stock Holdings in Maplebear Inc. (NASDAQ:CART)

Alpine Woods Capital Investors LLC decreased its holdings in shares of Maplebear Inc. (NASDAQ:CART) by 38.2% during the fourth quarter, HoldingsChannel reports. The firm owned 36,035 shares of the company’s stock after selling 22,258 shares during the period. Alpine Woods Capital Investors LLC’s holdings in Maplebear were worth $1,493,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Jones Financial Companies Lllp increased its position in Maplebear by 46.6% during the 4th quarter. Jones Financial Companies Lllp now owns 698 shares of the company’s stock valued at $29,000 after purchasing an additional 222 shares during the period. Wilmington Savings Fund Society FSB purchased a new position in Maplebear during the 3rd quarter valued at about $33,000. Allworth Financial LP increased its position in Maplebear by 101.4% during the 4th quarter. Allworth Financial LP now owns 834 shares of the company’s stock valued at $37,000 after purchasing an additional 420 shares during the period. Huntington National Bank purchased a new position in Maplebear during the 3rd quarter valued at about $54,000. Finally, Cullen Frost Bankers Inc. purchased a new position in Maplebear during the 4th quarter valued at about $62,000. Hedge funds and other institutional investors own 63.09% of the company’s stock.

Insider Buying and Selling

In related news, CEO Fidji Simo sold 20,750 shares of the stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $43.31, for a total transaction of $898,682.50. Following the sale, the chief executive officer now directly owns 1,662,692 shares of the company’s stock, valued at approximately $72,011,190.52. This represents a 1.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CAO Alan Ramsay sold 2,247 shares of the stock in a transaction on Friday, December 20th. The stock was sold at an average price of $42.14, for a total transaction of $94,688.58. Following the sale, the chief accounting officer now directly owns 87,735 shares in the company, valued at $3,697,152.90. This trade represents a 2.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 46,061 shares of company stock valued at $1,987,318. Corporate insiders own 36.00% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on CART. Loop Capital cut their price objective on shares of Maplebear from $56.00 to $52.00 and set a “buy” rating on the stock in a research report on Thursday, March 6th. BMO Capital Markets lifted their price objective on shares of Maplebear from $48.00 to $49.00 and gave the stock a “market perform” rating in a research report on Wednesday, February 26th. BTIG Research raised shares of Maplebear from a “neutral” rating to a “buy” rating and set a $58.00 price objective on the stock in a research report on Tuesday, January 14th. JPMorgan Chase & Co. cut their price objective on shares of Maplebear from $52.00 to $50.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 26th. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Maplebear in a research report on Tuesday, December 3rd. They issued a “hold” rating and a $37.00 price objective on the stock. Thirteen investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Maplebear currently has a consensus rating of “Moderate Buy” and a consensus price target of $50.21.

Maplebear Price Performance

CART stock opened at $37.46 on Friday. The firm’s fifty day simple moving average is $45.68 and its 200-day simple moving average is $43.05. The company has a market capitalization of $9.91 billion, a P/E ratio of 25.14, a price-to-earnings-growth ratio of 1.19 and a beta of 1.34. Maplebear Inc. has a 12 month low of $29.84 and a 12 month high of $53.44.

Maplebear (NASDAQ:CART) last released its quarterly earnings data on Tuesday, February 25th. The company reported $0.53 EPS for the quarter, beating the consensus estimate of $0.37 by $0.16. Maplebear had a net margin of 13.37% and a return on equity of 13.78%. The business had revenue of $883.00 million for the quarter, compared to the consensus estimate of $889.98 million. As a group, sell-side analysts forecast that Maplebear Inc. will post 1.43 earnings per share for the current year.

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.