Bailard Inc. Invests $1.03 Million in Maplebear Inc. (NASDAQ:CART)

Bailard Inc. purchased a new stake in shares of Maplebear Inc. (NASDAQ:CART - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 24,818 shares of the company's stock, valued at approximately $1,028,000.

Several other institutional investors and hedge funds also recently bought and sold shares of CART. US Bancorp DE boosted its position in shares of Maplebear by 22.3% in the fourth quarter. US Bancorp DE now owns 13,077 shares of the company's stock valued at $542,000 after acquiring an additional 2,387 shares during the period. Oppenheimer & Co. Inc. lifted its stake in Maplebear by 35.7% in the 4th quarter. Oppenheimer & Co. Inc. now owns 16,408 shares of the company's stock worth $680,000 after purchasing an additional 4,318 shares in the last quarter. GenTrust LLC bought a new position in Maplebear in the 4th quarter valued at $22,593,000. Lake Street Advisors Group LLC purchased a new position in shares of Maplebear during the 4th quarter valued at $373,000. Finally, Bank of New York Mellon Corp increased its holdings in shares of Maplebear by 4.1% in the fourth quarter. Bank of New York Mellon Corp now owns 593,480 shares of the company's stock worth $24,582,000 after purchasing an additional 23,295 shares during the period. 63.09% of the stock is owned by institutional investors.

Insider Buying and Selling at Maplebear

In other Maplebear news, CAO Alan Ramsay sold 2,247 shares of Maplebear stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $42.14, for a total transaction of $94,688.58. Following the sale, the chief accounting officer now directly owns 87,735 shares of the company's stock, valued at approximately $3,697,152.90. The trade was a 2.50 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Fidji Simo sold 20,750 shares of the stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $43.31, for a total value of $898,682.50. Following the completion of the transaction, the chief executive officer now directly owns 1,662,692 shares of the company's stock, 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 ninety days, insiders have sold 46,061 shares of company stock valued at $1,987,318. 36.00% of the stock is currently owned by company insiders.

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Analyst Upgrades and Downgrades

CART has been the subject of several research analyst reports. Macquarie lifted their price objective on Maplebear from $52.00 to $55.00 and gave the company an "outperform" rating in a research note on Thursday, February 27th. Benchmark reissued a "hold" rating on shares of Maplebear in a report on Wednesday, February 26th. Piper Sandler raised their target price on shares of Maplebear from $50.00 to $58.00 and gave the company an "overweight" rating in a research note on Wednesday, November 13th. BTIG Research upgraded shares of Maplebear from a "neutral" rating to a "buy" rating and set a $58.00 target price for the company in a research report on Tuesday, January 14th. Finally, JMP Securities increased their price target on shares of Maplebear from $42.00 to $51.00 and gave the stock a "market outperform" rating in a report on Wednesday, November 13th. Thirteen research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $50.21.

Maplebear Stock Performance

Shares of NASDAQ CART traded up $2.15 during trading hours on Friday, hitting $39.90. The company's stock had a trading volume of 6,980,625 shares, compared to its average volume of 3,880,020. The business has a 50-day simple moving average of $46.03 and a 200-day simple moving average of $42.90. The stock has a market cap of $10.25 billion, a price-to-earnings ratio of 26.78, a P/E/G ratio of 1.19 and a beta of 1.34. Maplebear Inc. has a 12 month low of $29.84 and a 12 month high of $53.44.

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, topping analysts' consensus estimates of $0.37 by $0.16. The firm had revenue of $883.00 million for the quarter, compared to analyst estimates of $889.98 million. Maplebear had a return on equity of 13.78% and a net margin of 13.37%. On average, equities research analysts forecast 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.