AH Capital Management L.L.C. Lowers Position in Maplebear Inc. (NASDAQ:CART)

AH Capital Management L.L.C. decreased its position in shares of Maplebear Inc. (NASDAQ:CART) by 50.0% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,802,058 shares of the company’s stock after selling 2,802,065 shares during the period. Maplebear accounts for 8.6% of AH Capital Management L.L.C.’s holdings, making the stock its 5th biggest position. AH Capital Management L.L.C.’s holdings in Maplebear were worth $114,156,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Huntington National Bank acquired a new stake in Maplebear in the 3rd quarter worth approximately $54,000. nVerses Capital LLC grew its holdings in shares of Maplebear by 1,600.0% during the second quarter. nVerses Capital LLC now owns 1,700 shares of the company’s stock valued at $55,000 after buying an additional 1,600 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Maplebear in the 3rd quarter valued at $74,000. Quarry LP increased its position in shares of Maplebear by 269.5% in the 2nd quarter. Quarry LP now owns 3,928 shares of the company’s stock valued at $126,000 after acquiring an additional 2,865 shares during the period. Finally, Watts Gwilliam & Co. LLC purchased a new stake in Maplebear during the 3rd quarter valued at about $231,000. 63.09% of the stock is owned by hedge funds and other institutional investors.

Maplebear Stock Down 0.2 %

CART opened at $43.54 on Wednesday. The firm’s fifty day simple moving average is $43.06 and its two-hundred day simple moving average is $36.94. Maplebear Inc. has a 52-week low of $22.13 and a 52-week high of $50.01. The company has a market cap of $11.18 billion, a price-to-earnings ratio of 29.22, a PEG ratio of 1.13 and a beta of 1.12.

Maplebear (NASDAQ:CART) last announced its earnings results on Tuesday, November 12th. The company reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.20. The company had revenue of $852.00 million for 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 firm’s quarterly revenue was up 11.5% on a year-over-year basis. During the same quarter in the previous year, the company posted ($20.86) EPS. On average, research analysts forecast that Maplebear Inc. will post 1.4 EPS for the current year.

Analyst Upgrades and Downgrades

CART has been the subject of several research analyst reports. Stifel Nicolaus raised their price objective on Maplebear from $52.00 to $55.00 and gave the stock a “buy” rating in a research note on Monday, October 28th. Barclays lifted their price objective on shares of Maplebear from $48.00 to $56.00 and gave the company an “overweight” rating in a research note on Wednesday, November 13th. Bank of America increased their price objective on shares of Maplebear from $50.00 to $51.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 13th. Macquarie upped their price target on shares of Maplebear from $50.00 to $52.00 and gave the company an “outperform” rating in a report on Thursday, November 14th. Finally, BMO Capital Markets lifted their price objective on Maplebear from $39.00 to $48.00 and gave the company a “market perform” rating in a research note on Wednesday, November 13th. Twelve equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Maplebear has an average rating of “Moderate Buy” and a consensus target price of $47.29.

Insider Buying and Selling

In other news, General Counsel Morgan Fong sold 29,253 shares of the stock in a transaction that occurred on 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 completion of the sale, the general counsel now owns 258,406 shares of the company’s stock, valued at $12,411,240.18. This represents a 10.17 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CAO Alan Ramsay sold 2,486 shares of Maplebear stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $41.39, for a total transaction of $102,895.54. Following the sale, the chief accounting officer now directly owns 99,225 shares in the company, valued at approximately $4,106,922.75. The trade was a 2.44 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 90,204 shares of company stock worth $3,998,778. 36.00% of the stock is owned by corporate insiders.

Maplebear Company 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.