Maplebear Inc. (NASDAQ:CART) Shares Bought by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. boosted its holdings in shares of Maplebear Inc. (NASDAQ:CART - Free Report) by 5,191.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,489,655 shares of the company's stock after acquiring an additional 1,461,501 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.57% of Maplebear worth $60,689,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Pacer Advisors Inc. acquired a new stake in Maplebear during the third quarter worth $158,701,000. Sculptor Capital LP acquired a new stake in Maplebear during the second quarter worth $77,361,000. Federated Hermes Inc. increased its stake in Maplebear by 102.2% during the second quarter. Federated Hermes Inc. now owns 1,734,264 shares of the company's stock worth $55,739,000 after acquiring an additional 876,439 shares during the last quarter. Industry Ventures L.L.C. increased its stake in Maplebear by 3.3% during the second quarter. Industry Ventures L.L.C. now owns 980,458 shares of the company's stock worth $31,512,000 after acquiring an additional 31,175 shares during the last quarter. Finally, Marshall Wace LLP increased its stake in Maplebear by 34.1% during the second quarter. Marshall Wace LLP now owns 726,582 shares of the company's stock worth $23,352,000 after acquiring an additional 184,569 shares during the last quarter. Institutional investors and hedge funds own 63.09% of the company's stock.

Insiders Place Their Bets

In related news, General Counsel Morgan Fong sold 29,253 shares of the company's stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $48.03, for a total value of $1,405,021.59. Following the sale, the general counsel now owns 258,406 shares in the company, valued at $12,411,240.18. This represents a 10.17 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Alan Ramsay sold 2,486 shares of Maplebear stock in a transaction on Friday, September 20th. The stock was sold at an average price of $41.39, for a total value of $102,895.54. Following the transaction, the chief accounting officer now directly owns 99,225 shares of the company's stock, valued at approximately $4,106,922.75. This represents a 2.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 110,954 shares of company stock worth $4,890,405. Company insiders own 36.00% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Macquarie lifted their price objective on Maplebear from $50.00 to $52.00 and gave the company an "outperform" rating in a research note on Thursday, November 14th. JMP Securities lifted their price objective on Maplebear from $42.00 to $51.00 and gave the company a "market outperform" rating in a research note on Wednesday, November 13th. Raymond James assumed coverage on Maplebear in a research note on Tuesday, September 24th. They issued a "market perform" rating for the company. JPMorgan Chase & Co. lifted their price objective on Maplebear from $47.00 to $52.00 and gave the company an "overweight" rating in a research note on Wednesday, November 13th. Finally, Barclays lifted their price objective on Maplebear from $48.00 to $56.00 and gave the company an "overweight" rating in a research note on Wednesday, November 13th. Twelve investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $47.29.

Maplebear Trading Up 0.5 %

Shares of Maplebear stock traded up $0.23 on Friday, hitting $43.67. The stock had a trading volume of 1,464,834 shares, compared to its average volume of 3,990,993. Maplebear Inc. has a 52-week low of $22.13 and a 52-week high of $50.01. The stock has a market cap of $11.22 billion, a price-to-earnings ratio of 29.31, a P/E/G ratio of 1.12 and a beta of 1.12. The company's 50 day moving average price is $43.20 and its 200 day moving average price is $37.09.

Maplebear (NASDAQ:CART - Get Free Report) last issued its quarterly earnings results on Tuesday, November 12th. The company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.20. The firm had revenue of $852.00 million for the quarter, compared to analysts' expectations of $844.03 million. Maplebear had a return on equity of 13.78% and a net margin of 13.37%. The firm's revenue for the quarter was up 11.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($20.86) EPS. Analysts predict that Maplebear Inc. will post 1.4 EPS for the current fiscal year.

About Maplebear

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.