Maplebear Inc. (NASDAQ:CART) Position Lifted by Eos Management L.P.

Eos Management L.P. raised its stake in Maplebear Inc. (NASDAQ:CART - Free Report) by 76.2% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 55,532 shares of the company's stock after buying an additional 24,024 shares during the quarter. Maplebear makes up approximately 1.0% of Eos Management L.P.'s investment portfolio, making the stock its 22nd largest position. Eos Management L.P.'s holdings in Maplebear were worth $2,300,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Victory Capital Management Inc. increased 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 worth $187,495,000 after purchasing an additional 4,487,654 shares during the last quarter. Pacer Advisors Inc. purchased a new position in Maplebear during the third quarter worth about $158,701,000. Geode Capital Management LLC increased its position in shares of Maplebear by 151.7% during the third quarter. Geode Capital Management LLC now owns 2,732,738 shares of the company's stock valued at $111,361,000 after acquiring an additional 1,647,081 shares during the last quarter. Maverick Capital Ltd. raised its stake in shares of Maplebear by 19.7% in the 3rd quarter. Maverick Capital Ltd. now owns 2,684,425 shares of the company's stock valued at $109,363,000 after acquiring an additional 441,156 shares during the period. Finally, State Street Corp lifted its holdings in shares of Maplebear by 48.3% in the 3rd quarter. State Street Corp now owns 2,552,617 shares of the company's stock worth $103,994,000 after acquiring an additional 831,795 shares during the last quarter. 63.09% of the stock is owned by institutional investors and hedge funds.

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Maplebear Stock Performance

CART traded up $1.11 during trading on Friday, reaching $38.57. The company's stock had a trading volume of 2,745,597 shares, compared to its average volume of 3,892,984. The company's fifty day moving average price is $45.68 and its 200-day moving average price is $43.05. Maplebear Inc. has a 52-week low of $29.84 and a 52-week high of $53.44. The company has a market capitalization of $10.21 billion, a price-to-earnings ratio of 25.89, 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 analysts' consensus estimates of $0.37 by $0.16. The company had revenue of $883.00 million during the quarter, compared to analysts' expectations of $889.98 million. Maplebear had a net margin of 13.37% and a return on equity of 13.78%. Equities analysts predict that Maplebear Inc. will post 1.43 earnings per share for the current year.

Insider Transactions at Maplebear

In related news, CEO Fidji Simo sold 20,750 shares of the company's stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $43.31, for a total transaction of $898,682.50. Following the transaction, the chief executive officer now owns 1,662,692 shares of the company's stock, valued at approximately $72,011,190.52. This represents a 1.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Alan Ramsay sold 2,314 shares of Maplebear stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $46.28, for a total value 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 approximately $3,953,283.88. This represents a 2.64 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 46,061 shares of company stock valued at $1,987,318 in the last 90 days. 36.00% of the stock is currently owned by insiders.

Analyst Ratings Changes

CART has been the topic of a number of research analyst reports. Barclays boosted their target price on Maplebear from $56.00 to $58.00 and gave the company an "overweight" rating in a research report on Wednesday, February 26th. Needham & Company LLC reaffirmed a "buy" rating and issued a $56.00 target price on shares of Maplebear in a research report on Wednesday, February 26th. BMO Capital Markets increased their price target 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 raised their price objective on shares of Maplebear from $52.00 to $55.00 and gave the company an "outperform" rating in a research note on Thursday, February 27th. Finally, Oppenheimer reduced their target price on shares of Maplebear from $65.00 to $60.00 and set an "outperform" rating on the stock in a report on Wednesday, February 26th. Thirteen investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $50.21.

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.