Aviva PLC Makes New Investment in Maplebear Inc. (NASDAQ:CART)

Aviva PLC purchased a new stake in Maplebear Inc. (NASDAQ:CART - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 14,408 shares of the company's stock, valued at approximately $597,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Jones Financial Companies Lllp increased its position in shares of Maplebear by 46.6% in the fourth quarter. Jones Financial Companies Lllp now owns 698 shares of the company's stock valued at $29,000 after acquiring an additional 222 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new position in Maplebear in the third quarter valued at approximately $33,000. Allworth Financial LP increased its position in shares of Maplebear by 101.4% during the 4th quarter. Allworth Financial LP now owns 834 shares of the company's stock worth $37,000 after purchasing an additional 420 shares during the last quarter. Cullen Frost Bankers Inc. bought a new stake in shares of Maplebear during the 4th quarter worth approximately $62,000. Finally, PNC Financial Services Group Inc. boosted its holdings in shares of Maplebear by 243.3% in the 4th quarter. PNC Financial Services Group Inc. now owns 3,399 shares of the company's stock valued at $141,000 after buying an additional 2,409 shares during the last quarter. 63.09% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Seaport Res Ptn raised shares of Maplebear to a "strong-buy" rating in a research report on Wednesday, February 12th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $55.00 target price on shares of Maplebear in a research note on Wednesday, February 26th. Oppenheimer lowered their price target on Maplebear from $65.00 to $60.00 and set an "outperform" rating on the stock in a research report on Wednesday, February 26th. JPMorgan Chase & Co. reduced their target price on Maplebear from $50.00 to $44.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. Finally, Morgan Stanley boosted their target price on Maplebear from $44.00 to $45.00 and gave the stock an "equal weight" rating in a report on Wednesday, February 26th. Twelve research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $50.61.

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Maplebear Price Performance

CART stock traded up $0.28 during midday trading on Wednesday, reaching $42.14. The company had a trading volume of 450,124 shares, compared to its average volume of 4,062,248. Maplebear Inc. has a 1-year low of $29.84 and a 1-year high of $53.44. The stock has a 50 day moving average price of $42.40 and a 200-day moving average price of $43.48. The company has a market capitalization of $11.06 billion, a price-to-earnings ratio of 28.32, a price-to-earnings-growth ratio of 1.19 and a beta of 1.20.

Maplebear (NASDAQ:CART - Get Free Report) last posted its quarterly earnings results on Tuesday, February 25th. The company reported $0.53 earnings per share (EPS) for the quarter, topping 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 analyst estimates of $889.98 million. As a group, research analysts anticipate that Maplebear Inc. will post 1.43 earnings per share for the current year.

Insider Buying and Selling

In other Maplebear news, CEO Fidji Simo sold 2,033 shares of the business's stock in a transaction on Monday, March 17th. The shares were sold at an average price of $40.00, for a total transaction of $81,320.00. Following the sale, the chief executive officer now owns 1,654,559 shares of the company's stock, valued at approximately $66,182,360. The trade was a 0.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Alan Ramsay sold 2,314 shares of the firm's stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $46.28, for a total value of $107,091.92. Following the sale, the chief accounting officer now directly owns 85,421 shares in the company, valued at approximately $3,953,283.88. This trade represents a 2.64 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 25,097 shares of company stock worth $1,087,094 in the last ninety days. 36.00% of the stock is owned by 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.