Eos Management L.P. Purchases 15,600 Shares of Maplebear Inc. (NASDAQ:CART)

Eos Management L.P. raised its stake in shares of Maplebear Inc. (NASDAQ:CART - Free Report) by 98.1% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 31,508 shares of the company's stock after buying an additional 15,600 shares during the quarter. Maplebear comprises 0.4% of Eos Management L.P.'s portfolio, making the stock its 29th largest holding. Eos Management L.P.'s holdings in Maplebear were worth $1,284,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. nVerses Capital LLC boosted its stake in Maplebear by 1,600.0% during the second quarter. nVerses Capital LLC now owns 1,700 shares of the company's stock valued at $55,000 after buying an additional 1,600 shares during the period. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Maplebear in the 3rd quarter valued at about $74,000. Quarry LP boosted its position in shares of Maplebear by 269.5% during the 2nd quarter. Quarry LP now owns 3,928 shares of the company's stock valued at $126,000 after acquiring an additional 2,865 shares during the last quarter. Oppenheimer & Co. Inc. purchased a new position in shares of Maplebear during the first quarter worth about $213,000. Finally, Watts Gwilliam & Co. LLC bought a new position in shares of Maplebear in the third quarter worth approximately $231,000. 63.09% of the stock is currently owned by institutional investors.

Maplebear Trading Down 1.9 %

NASDAQ CART traded down $0.94 during trading on Friday, hitting $47.72. The company had a trading volume of 3,924,049 shares, compared to its average volume of 2,356,687. The company's fifty day moving average is $41.15 and its 200-day moving average is $36.26. The company has a market cap of $12.45 billion, a price-to-earnings ratio of -2.41, a price-to-earnings-growth ratio of 1.48 and a beta of 1.12. Maplebear Inc. has a one year low of $22.13 and a one year high of $50.01.

Analyst Ratings Changes

Several brokerages have issued reports on CART. Morgan Stanley dropped their target price on shares of Maplebear from $45.00 to $41.00 and set an "equal weight" rating for the company in a research report on Tuesday, September 24th. Needham & Company LLC reiterated a "hold" rating on shares of Maplebear in a research report on Wednesday, August 7th. Wedbush raised their price target on Maplebear from $35.00 to $38.00 and gave the company a "neutral" rating in a research report on Wednesday, August 7th. Oppenheimer lifted their price target on Maplebear from $48.00 to $55.00 and gave the stock an "outperform" rating in a research note on Wednesday. Finally, Piper Sandler raised their price objective on Maplebear from $47.00 to $50.00 and gave the company an "overweight" rating in a report on Wednesday, August 7th. Twelve research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $43.90.

Insiders Place Their Bets

In other news, CAO Alan Ramsay sold 2,486 shares of the firm's stock in a transaction that occurred 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 completion of the transaction, the chief accounting officer now owns 99,225 shares in the company, valued at $4,106,922.75. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CAO Alan Ramsay sold 2,486 shares of the company's stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $41.39, for a total value of $102,895.54. Following the sale, the chief accounting officer now directly owns 99,225 shares of the company's stock, valued at $4,106,922.75. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Fidji Simo sold 33,000 shares of Maplebear stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $35.27, for a total transaction of $1,163,910.00. Following the transaction, the chief executive officer now directly owns 1,844,778 shares of the company's stock, valued at approximately $65,065,320.06. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 118,710 shares of company stock worth $4,978,164 over the last three months. Company insiders own 36.00% of the company's stock.

Maplebear Company 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.