Dynamic Technology Lab Private Ltd Invests $575,000 in Maplebear Inc. (NASDAQ:CART)

Dynamic Technology Lab Private Ltd bought a new stake in shares of Maplebear Inc. (NASDAQ:CART - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 13,890 shares of the company's stock, valued at approximately $575,000.

Several other large investors also recently bought and sold shares of CART. Victory Capital Management Inc. lifted its position in Maplebear by 11,501.2% during the fourth quarter. Victory Capital Management Inc. now owns 4,526,673 shares of the company's stock valued at $187,495,000 after purchasing an additional 4,487,654 shares during the period. Boston Partners acquired a new position in shares of Maplebear during the fourth quarter valued at approximately $111,506,000. Vanguard Group Inc. increased its position in shares of Maplebear by 16.8% during the fourth quarter. Vanguard Group Inc. now owns 15,968,358 shares of the company's stock worth $661,409,000 after purchasing an additional 2,300,288 shares in the last quarter. Norges Bank purchased a new stake in Maplebear during the 4th quarter valued at about $95,162,000. Finally, Geode Capital Management LLC increased its holdings in shares of Maplebear by 151.7% in the third quarter. Geode Capital Management LLC now owns 2,732,738 shares of the company's stock valued at $111,361,000 after purchasing an additional 1,647,081 shares during the last quarter. Hedge funds and other institutional investors own 63.09% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on CART shares. Morgan Stanley increased their price objective on shares of Maplebear from $44.00 to $45.00 and gave the stock an "equal weight" rating in a research report on Wednesday, February 26th. BTIG Research raised shares of Maplebear from a "neutral" rating to a "buy" rating and set a $58.00 price target for the company in a research report on Tuesday, January 14th. FBN Securities started coverage on shares of Maplebear in a research report on Friday, March 28th. They issued a "sector perform" rating and a $44.00 price target for the company. JPMorgan Chase & Co. dropped their target price on Maplebear from $50.00 to $44.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. Finally, Needham & Company LLC restated a "buy" rating and issued a $56.00 price objective on shares of Maplebear in a research report on Wednesday, February 26th. Twelve 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 stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $50.61.

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Maplebear Stock Up 6.7 %

Shares of CART stock traded up $2.57 during mid-day trading on Friday, hitting $41.17. 4,963,842 shares of the company's stock were exchanged, compared to its average volume of 4,070,577. The stock has a market cap of $10.81 billion, a price-to-earnings ratio of 27.63, a PEG ratio of 1.19 and a beta of 1.20. The stock has a 50-day simple moving average of $42.67 and a two-hundred day simple moving average of $43.48. Maplebear Inc. has a fifty-two week low of $29.84 and a fifty-two week high of $53.44.

Maplebear (NASDAQ:CART - Get Free Report) last announced 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. The company had revenue of $883.00 million for the quarter, compared to analyst estimates of $889.98 million. Maplebear had a net margin of 13.37% and a return on equity of 13.78%. As a group, analysts anticipate that Maplebear Inc. will post 1.43 earnings per share for the current fiscal year.

Insider Buying and Selling at Maplebear

In related news, CEO Fidji Simo sold 2,033 shares of the business's stock in a transaction that occurred on Monday, March 17th. The stock was 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 of the company's stock, valued at approximately $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 accessible through the SEC website. Also, CAO Alan Ramsay sold 2,314 shares of the stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $46.28, for a total transaction of $107,091.92. Following the completion of the sale, the chief accounting officer now directly owns 85,421 shares of the company's stock, valued at $3,953,283.88. This trade represents a 2.64 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 25,097 shares of company stock valued at $1,087,094 over the last ninety days. Corporate insiders own 36.00% of the company's stock.

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.