2,691,608 Shares in Maplebear Inc. (NASDAQ:CART) Purchased by Boston Partners

Boston Partners purchased a new stake in Maplebear Inc. (NASDAQ:CART - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 2,691,608 shares of the company's stock, valued at approximately $111,506,000. Boston Partners owned 1.05% of Maplebear as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently bought and sold shares of CART. Victory Capital Management Inc. grew its position in Maplebear by 11,501.2% in the fourth quarter. Victory Capital Management Inc. now owns 4,526,673 shares of the company's stock valued at $187,495,000 after acquiring an additional 4,487,654 shares in the last quarter. Pacer Advisors Inc. acquired a new stake in Maplebear in the third quarter valued at approximately $158,701,000. Geode Capital Management LLC grew its position in Maplebear by 151.7% in the third quarter. Geode Capital Management LLC now owns 2,732,738 shares of the company's stock valued at $111,361,000 after acquiring an additional 1,647,081 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in Maplebear by 5,191.1% in the third 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 in the last quarter. Finally, Southpoint Capital Advisors LP grew its position in Maplebear by 56.3% in the third quarter. Southpoint Capital Advisors LP now owns 2,500,000 shares of the company's stock valued at $101,850,000 after acquiring an additional 900,000 shares in the last quarter. Hedge funds and other institutional investors own 63.09% of the company's stock.

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Wall Street Analyst Weigh In

Several brokerages have issued reports on CART. BMO Capital Markets increased their price objective on shares of Maplebear from $48.00 to $49.00 and gave the company a "market perform" rating in a research report on Wednesday, February 26th. Loop Capital decreased their price target on shares of Maplebear from $56.00 to $52.00 and set a "buy" rating for the company in a research report on Thursday, March 6th. Barclays raised their price target on shares of Maplebear from $56.00 to $58.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 26th. Cantor Fitzgerald reissued an "overweight" rating and set a $55.00 price target on shares of Maplebear in a research report on Wednesday, February 26th. Finally, Benchmark reissued a "hold" rating on shares of Maplebear in a research report on Wednesday, February 26th. Thirteen equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $50.52.

Insider Activity at Maplebear

In related news, CEO Fidji Simo sold 2,033 shares of Maplebear stock in a transaction dated 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 directly owns 1,654,559 shares in the company, valued at $66,182,360. The trade was a 0.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Alan Ramsay sold 2,314 shares of Maplebear stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $46.28, for a total value of $107,091.92. Following the transaction, the chief accounting officer now directly owns 85,421 shares in the company, valued at approximately $3,953,283.88. The trade was a 2.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 25,097 shares of company stock worth $1,087,094 over the last ninety days. 36.00% of the stock is currently owned by corporate insiders.

Maplebear Price Performance

Shares of NASDAQ CART traded down $0.03 during midday trading on Friday, reaching $38.90. 13,057,199 shares of the company traded hands, compared to its average volume of 3,937,898. Maplebear Inc. has a 52 week low of $29.84 and a 52 week high of $53.44. The stock has a 50-day moving average price of $45.10 and a 200 day moving average price of $43.27. The company has a market cap of $10.29 billion, a price-to-earnings ratio of 26.11, a PEG ratio of 1.19 and a beta of 1.34.

Maplebear (NASDAQ:CART - Get Free Report) last issued its quarterly earnings data on Tuesday, February 25th. The company reported $0.53 earnings per share for the quarter, beating analysts' consensus estimates 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 analysts' expectations of $889.98 million. As a group, analysts expect that Maplebear Inc. will post 1.43 EPS for the current year.

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.