APG Asset Management N.V. Buys Shares of 112,300 Maplebear Inc. (NASDAQ:CART)

APG Asset Management N.V. bought a new position in shares of Maplebear Inc. (NASDAQ:CART - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 112,300 shares of the company's stock, valued at approximately $4,492,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in Maplebear by 16.8% in the fourth quarter. Vanguard Group Inc. now owns 15,968,358 shares of the company's stock worth $661,409,000 after buying an additional 2,300,288 shares in the last quarter. Victory Capital Management Inc. lifted its position in shares of Maplebear by 11,501.2% during the fourth quarter. Victory Capital Management Inc. now owns 4,526,673 shares of the company's stock valued at $187,495,000 after buying an additional 4,487,654 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Maplebear by 151.7% in the 3rd quarter. Geode Capital Management LLC now owns 2,732,738 shares of the company's stock worth $111,361,000 after buying an additional 1,647,081 shares during the last quarter. Boston Partners bought a new position in shares of Maplebear during the 4th quarter worth approximately $111,506,000. Finally, State Street Corp lifted its position in Maplebear by 48.3% during the third quarter. State Street Corp now owns 2,552,617 shares of the company's stock valued at $103,994,000 after acquiring an additional 831,795 shares during the last quarter. Institutional investors own 63.09% of the company's stock.

Insider Buying and Selling

In related 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 transaction, the chief accounting officer now directly owns 85,421 shares in the company, valued at approximately $3,953,283.88. This represents a 2.64 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Fidji Simo sold 20,750 shares of Maplebear stock in a transaction 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 completion of the sale, the chief executive officer now owns 1,662,692 shares in the company, valued at $72,011,190.52. This represents a 1.23 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 25,097 shares of company stock worth $1,087,094. Insiders own 36.00% of the company's stock.

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Maplebear Stock Performance

Shares of NASDAQ:CART traded up $0.06 during midday trading on Tuesday, reaching $41.86. 3,321,507 shares of the company's stock traded hands, compared to its average volume of 4,076,395. The company has a market cap of $10.99 billion, a P/E ratio of 28.09, a PEG ratio of 1.19 and a beta of 1.20. The company has a fifty day simple moving average of $42.54 and a two-hundred day simple moving average of $43.49. Maplebear Inc. has a 1 year low of $29.84 and a 1 year high of $53.44.

Maplebear (NASDAQ:CART - Get Free Report) last posted its quarterly earnings data on Tuesday, February 25th. The company reported $0.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.16. The business 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%. As a group, research analysts forecast that Maplebear Inc. will post 1.43 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on CART shares. JMP Securities reaffirmed a "market outperform" rating and issued a $55.00 price target on shares of Maplebear in a report on Friday. Stifel Nicolaus upped their target price on Maplebear from $56.00 to $57.00 and gave the company a "buy" rating in a research report on Wednesday, February 26th. Mizuho decreased their price target on shares of Maplebear from $55.00 to $52.00 and set an "outperform" rating for the company in a report on Wednesday, February 26th. Wells Fargo & Company dropped their price objective on shares of Maplebear from $47.00 to $44.00 and set an "equal weight" rating on the stock in a report on Thursday, April 3rd. Finally, Loop Capital dropped their price target on Maplebear from $56.00 to $52.00 and set a "buy" rating on the stock in a research note on Thursday, March 6th. Twelve equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Maplebear has a consensus rating of "Moderate Buy" and an average price target of $50.61.

Maplebear 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.