Federated Hermes Inc. Has $102.04 Million Position in Maplebear Inc. (NASDAQ:CART)

Federated Hermes Inc. grew its position in Maplebear Inc. (NASDAQ:CART - Free Report) by 22.9% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 2,462,264 shares of the company's stock after buying an additional 458,243 shares during the period. Federated Hermes Inc. owned 0.96% of Maplebear worth $102,035,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in CART. Victory Capital Management Inc. raised its holdings in 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. Boston Partners acquired a new stake in Maplebear during the 4th quarter worth $111,506,000. Vanguard Group Inc. grew its holdings in Maplebear by 16.8% during the 4th quarter. Vanguard Group Inc. now owns 15,968,358 shares of the company's stock worth $661,409,000 after acquiring an additional 2,300,288 shares during the period. Norges Bank bought a new stake in shares of Maplebear during the 4th quarter valued at $95,162,000. Finally, Geode Capital Management LLC lifted its stake 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 valued at $111,361,000 after purchasing an additional 1,647,081 shares during the period. Institutional investors own 63.09% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on CART shares. Barclays increased their target price on Maplebear from $56.00 to $58.00 and gave the company an "overweight" rating in a research note on Wednesday, February 26th. Wedbush decreased their price objective on shares of Maplebear from $48.00 to $46.00 and set a "neutral" rating for the company in a report on Wednesday, February 26th. Morgan Stanley increased their target price on shares of Maplebear from $44.00 to $45.00 and gave the stock an "equal weight" rating in a report on Wednesday, February 26th. Benchmark reissued a "hold" rating on shares of Maplebear in a report on Wednesday, February 26th. Finally, FBN Securities assumed coverage on Maplebear in a research note on Friday, March 28th. They set a "sector perform" rating and a $44.00 price objective on the stock. Twelve research 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. According to MarketBeat.com, Maplebear has a consensus rating of "Moderate Buy" and an average target price of $50.61.

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Maplebear Stock Up 6.7 %

Shares of CART traded up $2.57 during trading hours on Friday, hitting $41.17. 4,963,842 shares of the company were exchanged, compared to its average volume of 4,071,923. Maplebear Inc. has a fifty-two week low of $29.84 and a fifty-two week high of $53.44. The company has a market cap of $10.90 billion, a price-to-earnings ratio of 27.63, a P/E/G ratio of 1.19 and a beta of 1.20. The firm's fifty day moving average is $42.67 and its 200 day moving average is $43.45.

Maplebear (NASDAQ:CART - Get Free Report) last released its earnings results on Tuesday, February 25th. The company reported $0.53 EPS for the quarter, beating the consensus estimate of $0.37 by $0.16. Maplebear had a net margin of 13.37% and a return on equity of 13.78%. The firm had revenue of $883.00 million for the quarter, compared to analyst estimates of $889.98 million. Analysts anticipate that Maplebear Inc. will post 1.43 EPS for the current year.

Insider Transactions at Maplebear

In related news, CAO Alan Ramsay sold 2,314 shares of the firm'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 sale, the chief accounting officer now 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 transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Fidji Simo sold 2,033 shares of the business's stock in a transaction on Monday, March 17th. The stock was sold at an average price of $40.00, for a total value of $81,320.00. Following the sale, the chief executive officer now owns 1,654,559 shares in the company, valued at $66,182,360. This represents a 0.12 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 25,097 shares of company stock valued at $1,087,094. Corporate 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.