Amundi Purchases 22,976 Shares of Maplebear Inc. (NASDAQ:CART)

Amundi increased its position in shares of Maplebear Inc. (NASDAQ:CART - Free Report) by 30.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 97,817 shares of the company's stock after purchasing an additional 22,976 shares during the quarter. Amundi's holdings in Maplebear were worth $4,384,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Jones Financial Companies Lllp lifted its position in shares of Maplebear by 46.6% during the 4th quarter. Jones Financial Companies Lllp now owns 698 shares of the company's stock worth $29,000 after buying an additional 222 shares in the last quarter. CIBC Asset Management Inc boosted its position in Maplebear by 3.7% in the third quarter. CIBC Asset Management Inc now owns 8,114 shares of the company's stock worth $331,000 after purchasing an additional 286 shares during the last quarter. Allworth Financial LP grew its stake in Maplebear by 101.4% in the 4th quarter. Allworth Financial LP now owns 834 shares of the company's stock valued at $37,000 after purchasing an additional 420 shares during the period. Coldstream Capital Management Inc. increased its position in shares of Maplebear by 1.6% during the 3rd quarter. Coldstream Capital Management Inc. now owns 31,745 shares of the company's stock valued at $1,294,000 after purchasing an additional 490 shares during the last quarter. Finally, Oppenheimer & Co. Inc. raised its stake in shares of Maplebear by 5.1% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 12,090 shares of the company's stock worth $493,000 after purchasing an additional 584 shares during the period. 63.09% of the stock is owned by institutional investors.

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Insider Activity

In other Maplebear news, CAO Alan Ramsay sold 2,314 shares of the stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $46.28, for a total value of $107,091.92. Following the completion of the sale, the chief accounting officer now 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 transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Fidji Simo sold 20,750 shares of the business's stock in a transaction that occurred on 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. Over the last ninety days, insiders sold 25,311 shares of company stock valued at $1,100,463. Insiders own 36.00% of the company's stock.

Maplebear Stock Performance

CART stock traded down $0.38 during trading on Wednesday, hitting $39.78. 2,354,505 shares of the company traded hands, compared to its average volume of 3,883,915. The company has a 50-day moving average of $45.43 and a 200-day moving average of $43.24. Maplebear Inc. has a 1 year low of $29.84 and a 1 year high of $53.44. The firm has a market capitalization of $10.53 billion, a PE ratio of 26.70, a P/E/G ratio of 1.19 and a beta of 1.34.

Maplebear (NASDAQ:CART - Get Free Report) last issued its earnings results on Tuesday, February 25th. The company reported $0.53 EPS for the quarter, topping the consensus estimate of $0.37 by $0.16. The company had revenue of $883.00 million for the quarter, compared to the consensus estimate of $889.98 million. Maplebear had a net margin of 13.37% and a return on equity of 13.78%. Sell-side analysts expect that Maplebear Inc. will post 1.43 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on CART shares. Wedbush dropped their target price on shares of Maplebear from $48.00 to $46.00 and set a "neutral" rating on the stock in a research note on Wednesday, February 26th. Needham & Company LLC reissued a "buy" rating and set a $56.00 price objective on shares of Maplebear in a report on Wednesday, February 26th. BMO Capital Markets raised their target price on Maplebear from $48.00 to $49.00 and gave the stock a "market perform" rating in a research report on Wednesday, February 26th. Bank of America upped their price target on Maplebear from $51.00 to $53.00 and gave the company a "neutral" rating in a research report on Tuesday, February 25th. Finally, Wells Fargo & Company began coverage on Maplebear in a report on Friday, January 10th. They issued an "equal weight" rating and a $47.00 price objective for the company. Thirteen analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $50.52.

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.