BI Asset Management Fondsmaeglerselskab A S Acquires New Stake in Maplebear Inc. (NASDAQ:CART)

BI Asset Management Fondsmaeglerselskab A S purchased a new stake in Maplebear Inc. (NASDAQ:CART - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 52,420 shares of the company's stock, valued at approximately $2,171,000.

Several other large investors also recently made changes to their positions in the business. Jones Financial Companies Lllp increased its stake in Maplebear by 46.6% in the 4th quarter. Jones Financial Companies Lllp now owns 698 shares of the company's stock worth $29,000 after purchasing an additional 222 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new position in Maplebear in the 3rd quarter worth approximately $33,000. Allworth Financial LP raised its stake in Maplebear by 101.4% during 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. NewEdge Advisors LLC lifted its holdings in shares of Maplebear by 277.9% in the fourth quarter. NewEdge Advisors LLC now owns 975 shares of the company's stock valued at $40,000 after purchasing an additional 717 shares in the last quarter. Finally, Cullen Frost Bankers Inc. acquired a new stake in shares of Maplebear in the fourth quarter worth $62,000. Institutional investors own 63.09% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Wedbush reduced their price objective on Maplebear from $48.00 to $46.00 and set a "neutral" rating for the company in a research note on Wednesday, February 26th. Seaport Res Ptn upgraded shares of Maplebear to a "strong-buy" rating in a report on Wednesday, February 12th. Loop Capital cut their target price on shares of Maplebear from $56.00 to $52.00 and set a "buy" rating for the company in a research report on Thursday, March 6th. Bank of America lifted their target price on shares of Maplebear from $51.00 to $53.00 and gave the company a "neutral" rating in a research note on Tuesday, February 25th. Finally, FBN Securities assumed coverage on Maplebear in a report on Friday, March 28th. They set a "sector perform" rating and a $44.00 price objective for the company. Twelve research 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 data from MarketBeat, Maplebear presently has a consensus rating of "Moderate Buy" and an average price target of $50.48.

Maplebear Price Performance

CART stock traded up $0.25 during trading hours on Friday, reaching $41.91. 2,619,129 shares of the stock were exchanged, compared to its average volume of 4,052,480. The company has a market cap of $11.00 billion, a price-to-earnings ratio of 28.13, a PEG ratio of 1.19 and a beta of 1.20. The firm's 50-day moving average is $41.13 and its 200-day moving average is $43.53. 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 announced 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. Maplebear had a net margin of 13.37% and a return on equity of 13.78%. The business had revenue of $883.00 million during the quarter, compared to analysts' expectations of $889.98 million. As a group, equities research analysts forecast that Maplebear Inc. will post 1.43 earnings per share for the current year.

Insider Activity

In other news, General Counsel Morgan Fong sold 5,249 shares of the firm's stock in a transaction that occurred on Monday, April 21st. The shares were sold at an average price of $42.57, for a total transaction of $223,449.93. Following the transaction, the general counsel now directly owns 484,292 shares of the company's stock, valued at approximately $20,616,310.44. This trade represents a 1.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 completion of the sale, the chief executive officer now owns 1,662,692 shares of the company's stock, valued at approximately $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. In the last ninety days, insiders have sold 36,165 shares of company stock valued at $1,541,785. 26.00% of the stock is owned by company insiders.

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.