American Century Companies Inc. Boosts Holdings in Maplebear Inc. (NASDAQ:CART)

American Century Companies Inc. lifted its position in shares of Maplebear Inc. (NASDAQ:CART - Free Report) by 25.6% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 191,528 shares of the company's stock after purchasing an additional 39,051 shares during the quarter. American Century Companies Inc. owned about 0.07% of Maplebear worth $7,933,000 as of its most recent filing with the Securities & Exchange Commission.

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

Maplebear Stock Down 0.8 %

Shares of Maplebear stock traded down $0.29 during trading hours on Tuesday, reaching $37.12. 3,194,166 shares of the stock traded hands, compared to its average volume of 4,033,784. The company has a 50 day moving average price of $43.40 and a 200 day moving average price of $43.50. Maplebear Inc. has a one year low of $29.84 and a one year high of $53.44. The firm has a market capitalization of $9.82 billion, a price-to-earnings ratio of 24.91, a P/E/G ratio of 1.19 and a beta of 1.20.

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Maplebear (NASDAQ:CART - Get Free Report) last announced 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 during the quarter, compared to analysts' expectations of $889.98 million. Maplebear had a net margin of 13.37% and a return on equity of 13.78%. Sell-side analysts anticipate that Maplebear Inc. will post 1.43 earnings per share for the current year.

Insider Buying and Selling at Maplebear

In related news, CEO Fidji Simo sold 2,033 shares of the company'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 completion of the transaction, the chief executive officer now owns 1,654,559 shares in the company, valued at approximately $66,182,360. This represents a 0.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Alan Ramsay sold 2,314 shares of the firm's stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $46.28, for a total value of $107,091.92. Following the transaction, the chief accounting officer now owns 85,421 shares of the company's stock, valued at approximately $3,953,283.88. The trade was a 2.64 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 25,097 shares of company stock valued at $1,087,094 over the last 90 days. 36.00% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have recently commented on CART. Needham & Company LLC reissued a "buy" rating and issued a $56.00 price target on shares of Maplebear in a research report on Wednesday, February 26th. Barclays boosted their target price on Maplebear from $56.00 to $58.00 and gave the stock an "overweight" rating in a report on Wednesday, February 26th. Mizuho cut their target price on Maplebear from $55.00 to $52.00 and set an "outperform" rating on the stock 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 for the company in a research report on Wednesday, February 26th. Finally, BTIG Research raised shares of Maplebear from a "neutral" rating to a "buy" rating and set a $58.00 price objective on the stock in a research report on Tuesday, January 14th. Thirteen analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Maplebear currently has a consensus rating of "Moderate Buy" and a consensus target price of $49.88.

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.