Blueshift Asset Management LLC Makes New $788,000 Investment in Maplebear Inc. (NASDAQ:CART)

Blueshift Asset Management LLC acquired a new stake in Maplebear Inc. (NASDAQ:CART - Free Report) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 19,333 shares of the company's stock, valued at approximately $788,000.

Several other hedge funds have also recently bought and sold shares of CART. Pacer Advisors Inc. acquired a new stake in shares of Maplebear in the third quarter valued at $158,701,000. Sculptor Capital LP bought a new stake in Maplebear in the second quarter worth about $77,361,000. Charles Schwab Investment Management Inc. lifted its holdings in Maplebear by 5,191.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,489,655 shares of the company's stock valued at $60,689,000 after acquiring an additional 1,461,501 shares during the last quarter. Federated Hermes Inc. boosted its position in shares of Maplebear by 102.2% during the 2nd quarter. Federated Hermes Inc. now owns 1,734,264 shares of the company's stock valued at $55,739,000 after purchasing an additional 876,439 shares in the last quarter. Finally, Renaissance Technologies LLC acquired a new position in shares of Maplebear in the 2nd quarter worth approximately $22,816,000. 63.09% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CEO Fidji Simo sold 20,750 shares of the stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $42.97, for a total transaction of $891,627.50. Following the transaction, the chief executive officer now owns 1,804,243 shares of the company's stock, valued at approximately $77,528,321.71. This represents a 1.14 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, General Counsel Morgan Fong sold 29,253 shares of the firm's 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 transaction, the general counsel now directly owns 258,406 shares in the company, valued at $12,411,240.18. The trade was a 10.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 110,954 shares of company stock worth $4,890,405. 36.00% of the stock is owned by corporate insiders.

Maplebear Stock Down 0.2 %

Shares of CART traded down $0.10 during midday trading on Thursday, reaching $43.44. 1,833,524 shares of the stock were exchanged, compared to its average volume of 4,001,969. The company has a market cap of $11.16 billion, a price-to-earnings ratio of 29.15, a P/E/G ratio of 1.13 and a beta of 1.12. Maplebear Inc. has a 12-month low of $22.13 and a 12-month high of $50.01. The firm has a 50 day simple moving average of $43.17 and a 200-day simple moving average of $37.03.

Maplebear (NASDAQ:CART - Get Free Report) last issued its quarterly earnings data on Tuesday, November 12th. The company reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.20. The firm had revenue of $852.00 million for the quarter, compared to analyst estimates of $844.03 million. Maplebear had a net margin of 13.37% and a return on equity of 13.78%. The company's revenue for the quarter was up 11.5% on a year-over-year basis. During the same quarter last year, the firm earned ($20.86) earnings per share. Research analysts expect that Maplebear Inc. will post 1.4 earnings per share for the current fiscal year.

Analyst Ratings Changes

CART has been the subject of a number of recent research reports. Citigroup increased their price objective on Maplebear from $44.00 to $47.00 and gave the company a "buy" rating in a research report on Thursday, August 8th. Piper Sandler upped their target price on Maplebear from $50.00 to $58.00 and gave the company an "overweight" rating in a report on Wednesday, November 13th. JPMorgan Chase & Co. lifted their price target on Maplebear from $47.00 to $52.00 and gave the stock an "overweight" rating in a research note on Wednesday, November 13th. BMO Capital Markets boosted their price objective on Maplebear from $39.00 to $48.00 and gave the stock a "market perform" rating in a report on Wednesday, November 13th. Finally, Wedbush raised their target price on shares of Maplebear from $35.00 to $38.00 and gave the stock a "neutral" rating in a report on Wednesday, August 7th. Twelve equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $47.29.

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.