Catalyst Funds Management Pty Ltd Takes $634,000 Position in Maplebear Inc. (NASDAQ:CART)

Catalyst Funds Management Pty Ltd acquired a new position in shares of Maplebear Inc. (NASDAQ:CART - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 15,300 shares of the company's stock, valued at approximately $634,000.

Several other hedge funds and other institutional investors also recently modified their holdings of CART. Victory Capital Management Inc. grew its position in shares of Maplebear by 11,501.2% during the 4th 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. Pacer Advisors Inc. acquired a new stake in shares of Maplebear during the 3rd quarter worth approximately $158,701,000. Geode Capital Management LLC lifted its holdings 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 purchasing an additional 1,647,081 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in Maplebear by 5,191.1% during 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 period. Finally, Southpoint Capital Advisors LP grew its stake in Maplebear by 56.3% during the 3rd quarter. Southpoint Capital Advisors LP now owns 2,500,000 shares of the company's stock worth $101,850,000 after buying an additional 900,000 shares during the last quarter. Institutional investors own 63.09% of the company's stock.

Insider Activity

In other news, CEO Fidji Simo sold 2,033 shares of the business's stock in a transaction on Monday, March 17th. The shares were sold at an average price of $40.00, for a total transaction of $81,320.00. Following the transaction, the chief executive officer now directly owns 1,654,559 shares in the company, valued at $66,182,360. The trade was a 0.12 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Alan Ramsay sold 2,314 shares of the company's stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $46.28, for a total transaction 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 $3,953,283.88. This trade represents a 2.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 27,344 shares of company stock worth $1,181,783 in the last 90 days. Company insiders own 36.00% of the company's stock.

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Wall Street Analysts Forecast Growth

Several research firms have commented on CART. BMO Capital Markets upped their target price on shares of Maplebear from $48.00 to $49.00 and gave the stock a "market perform" rating in a research report on Wednesday, February 26th. Macquarie lifted their target price on Maplebear from $52.00 to $55.00 and gave the company an "outperform" rating in a research note on Thursday, February 27th. JPMorgan Chase & Co. decreased their price target on Maplebear from $52.00 to $50.00 and set an "overweight" rating for the company in a research note on Wednesday, February 26th. Stifel Nicolaus lifted their price objective on shares of Maplebear from $56.00 to $57.00 and gave the company a "buy" rating in a research note on Wednesday, February 26th. Finally, Bank of America upped their price objective on shares of Maplebear from $51.00 to $53.00 and gave the stock a "neutral" rating in a report on Tuesday, February 25th. Thirteen analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $50.52.

Maplebear Stock Down 2.0 %

Shares of Maplebear stock traded down $0.81 during trading on Thursday, hitting $38.93. The stock had a trading volume of 4,263,614 shares, compared to its average volume of 3,890,200. Maplebear Inc. has a 1 year low of $29.84 and a 1 year high of $53.44. The stock has a 50 day simple moving average of $45.33 and a 200 day simple moving average of $43.22. The company has a market capitalization of $10.30 billion, a PE ratio of 26.13, a P/E/G ratio of 1.19 and a beta of 1.34.

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

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.