Aigen Investment Management LP purchased a new stake in shares of Maplebear Inc. (NASDAQ:CART - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund purchased 21,296 shares of the company's stock, valued at approximately $882,000.
Other hedge funds have also added to or reduced their stakes in the company. Portman Ltd acquired a new position in Maplebear during the 3rd quarter valued at about $3,196,000. State Street Corp boosted its stake in Maplebear by 48.3% during the 3rd quarter. State Street Corp now owns 2,552,617 shares of the company's stock valued at $103,994,000 after purchasing an additional 831,795 shares during the last quarter. Cerity Partners LLC acquired a new position in Maplebear during the 3rd quarter valued at about $1,442,000. Charles Schwab Investment Management Inc. boosted its stake in Maplebear by 5,191.1% during 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 purchasing an additional 1,461,501 shares during the last quarter. Finally, Zacks Investment Management purchased a new position in shares of Maplebear in the 3rd quarter worth approximately $4,853,000. Institutional investors and hedge funds own 63.09% of the company's stock.
Insider Activity at Maplebear
In other news, CAO Alan Ramsay sold 2,314 shares of the firm's stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $46.28, for a total transaction of $107,091.92. Following the transaction, the chief accounting officer now directly owns 85,421 shares of the company's stock, valued at approximately $3,953,283.88. This trade represents a 2.64 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Fidji Simo sold 20,750 shares of the firm's stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $43.31, for a total value of $898,682.50. Following the transaction, the chief executive officer now directly owns 1,662,692 shares in the company, valued at $72,011,190.52. This trade represents a 1.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 46,061 shares of company stock valued at $1,987,318 over the last 90 days. 36.00% of the stock is owned by insiders.
Wall Street Analysts Forecast Growth
A number of brokerages have recently weighed in on CART. Cantor Fitzgerald restated an "overweight" rating and issued a $55.00 target price on shares of Maplebear in a research note on Wednesday, February 26th. Macquarie boosted their target price on Maplebear from $52.00 to $55.00 and gave the stock an "outperform" rating in a research note on Thursday, February 27th. Piper Sandler boosted their target price on Maplebear from $50.00 to $58.00 and gave the stock an "overweight" rating in a research note on Wednesday, November 13th. Wedbush cut their target price on Maplebear from $48.00 to $46.00 and set a "neutral" rating on the stock in a research note on Wednesday, February 26th. Finally, Loop Capital cut their target price on Maplebear from $56.00 to $52.00 and set a "buy" rating on the stock in a research note on Thursday. Thirteen analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $50.21.
Get Our Latest Stock Report on Maplebear
Maplebear Stock Performance
CART traded up $2.15 during trading on Friday, reaching $39.90. The stock had a trading volume of 6,980,645 shares, compared to its average volume of 3,876,481. The stock has a market cap of $10.56 billion, a PE ratio of 26.78, a PEG ratio of 1.19 and a beta of 1.34. Maplebear Inc. has a one year low of $29.84 and a one year high of $53.44. The business has a 50-day moving average of $45.99 and a 200-day moving average of $43.01.
Maplebear (NASDAQ:CART - Get Free Report) last released its earnings results on Tuesday, February 25th. The company reported $0.53 EPS for the quarter, beating analysts' consensus estimates of $0.37 by $0.16. The business had revenue of $883.00 million for the quarter, compared to analysts' expectations of $889.98 million. Maplebear had a return on equity of 13.78% and a net margin of 13.37%. Equities research analysts forecast that Maplebear Inc. will post 1.43 EPS for the current fiscal year.
About Maplebear
(
Free Report)
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.
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