Cannon Global Investment Management LLC purchased a new stake in shares of Maplebear Inc. (NASDAQ:CART - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 10,000 shares of the company's stock, valued at approximately $414,000.
A number of other hedge funds and other institutional investors have also modified their holdings of CART. Victory Capital Management Inc. lifted its holdings in Maplebear by 6.1% during the 3rd quarter. Victory Capital Management Inc. now owns 39,019 shares of the company's stock worth $1,590,000 after buying an additional 2,234 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Maplebear by 5,191.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,489,655 shares of the company's stock valued at $60,689,000 after purchasing an additional 1,461,501 shares during the last quarter. Cerity Partners LLC bought a new stake in shares of Maplebear during the third quarter worth approximately $1,442,000. Portman Ltd acquired a new position in Maplebear in the third quarter valued at approximately $3,196,000. Finally, Blueshift Asset Management LLC bought a new position in Maplebear in the third quarter valued at approximately $788,000. Institutional investors and hedge funds own 63.09% of the company's stock.
Analyst Ratings Changes
A number of research analysts have recently weighed in on the company. Needham & Company LLC reissued a "buy" rating and issued a $56.00 price target on shares of Maplebear in a research note on Wednesday, February 26th. Deutsche Bank Aktiengesellschaft assumed coverage on Maplebear in a research report on Tuesday, December 3rd. They issued a "hold" rating and a $37.00 price objective for the company. FBN Securities began coverage on shares of Maplebear in a report on Friday. They set a "sector perform" rating and a $44.00 target price on the stock. Oppenheimer lowered their price objective on shares of Maplebear from $65.00 to $60.00 and set an "outperform" rating for the company in a research report on Wednesday, February 26th. Finally, Loop Capital dropped their price objective on shares of Maplebear from $56.00 to $52.00 and set a "buy" rating on the stock in a report on Thursday, March 6th. Fourteen analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Maplebear has an average rating of "Moderate Buy" and an average target price of $50.25.
Read Our Latest Analysis on Maplebear
Maplebear Price Performance
CART stock traded down $0.79 during trading hours on Friday, reaching $39.73. The stock had a trading volume of 2,388,815 shares, compared to its average volume of 4,020,932. The stock has a 50-day simple moving average of $44.59 and a 200 day simple moving average of $43.42. Maplebear Inc. has a fifty-two week low of $29.84 and a fifty-two week high of $53.44. The stock has a market capitalization of $10.51 billion, a PE ratio of 26.66, a price-to-earnings-growth 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 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 during 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%. On average, sell-side analysts forecast that Maplebear Inc. will post 1.43 EPS for the current fiscal year.
Insider Transactions at Maplebear
In other news, CAO Alan Ramsay sold 2,314 shares of the 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 directly owns 85,421 shares of the company's stock, valued at $3,953,283.88. This represents a 2.64 % 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 link. Also, CEO Fidji Simo sold 2,033 shares of the firm's stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $40.00, for a total transaction of $81,320.00. Following the sale, the chief executive officer now owns 1,654,559 shares of the company's stock, valued at approximately $66,182,360. This represents a 0.12 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 25,097 shares of company stock worth $1,087,094. 36.00% of the stock is owned by company insiders.
About Maplebear
(
Free Report)
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.
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