Grantham Mayo Van Otterloo & Co. LLC Makes New $281,000 Investment in Maplebear Inc. (NASDAQ:CART)

Grantham Mayo Van Otterloo & Co. LLC purchased a new position in Maplebear Inc. (NASDAQ:CART - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 6,794 shares of the company's stock, valued at approximately $281,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Victory Capital Management Inc. grew its position in shares of Maplebear by 11,501.2% during the fourth quarter. Victory Capital Management Inc. now owns 4,526,673 shares of the company's stock worth $187,495,000 after acquiring an additional 4,487,654 shares during the last quarter. Boston Partners bought a new stake in shares of Maplebear during the fourth quarter valued at approximately $111,506,000. Vanguard Group Inc. grew its holdings in Maplebear by 16.8% in the 4th quarter. Vanguard Group Inc. now owns 15,968,358 shares of the company's stock worth $661,409,000 after buying an additional 2,300,288 shares in the last quarter. Norges Bank acquired a new stake in Maplebear in the 4th quarter valued at approximately $95,162,000. Finally, Geode Capital Management LLC raised its stake in Maplebear by 151.7% during the 3rd 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 in the last quarter. 63.09% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently issued reports on CART shares. BMO Capital Markets increased their price objective on shares of Maplebear from $48.00 to $49.00 and gave the company a "market perform" rating in a report on Wednesday, February 26th. Wedbush decreased their target price on Maplebear from $48.00 to $46.00 and set a "neutral" rating for the company in a research note on Wednesday, February 26th. JMP Securities reiterated a "market outperform" rating and issued a $55.00 price target on shares of Maplebear in a research report on Friday. Loop Capital lowered their price objective on shares of Maplebear from $56.00 to $52.00 and set a "buy" rating on the stock in a research note on Thursday, March 6th. Finally, Barclays raised their target price on shares of Maplebear from $56.00 to $58.00 and gave the stock an "overweight" rating in a report on Wednesday, February 26th. Twelve analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $50.61.

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Maplebear Stock Up 2.7 %

Shares of NASDAQ:CART traded up $1.11 during trading on Monday, hitting $42.28. 948,254 shares of the company were exchanged, compared to its average volume of 4,059,363. Maplebear Inc. has a 1-year low of $29.84 and a 1-year high of $53.44. The company has a market capitalization of $11.10 billion, a P/E ratio of 28.38, a price-to-earnings-growth ratio of 1.19 and a beta of 1.20. The business's 50 day moving average is $42.67 and its 200-day moving average is $43.48.

Maplebear (NASDAQ:CART - Get Free Report) last issued its quarterly earnings results on Tuesday, February 25th. The company reported $0.53 EPS for the quarter, topping 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, sell-side analysts anticipate that Maplebear Inc. will post 1.43 earnings per share for the current year.

Insider Activity at Maplebear

In other news, CEO Fidji Simo sold 20,750 shares of the firm'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 value of $898,682.50. Following the completion of the transaction, the chief executive officer now directly owns 1,662,692 shares in the company, valued at approximately $72,011,190.52. This trade represents a 1.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Alan Ramsay sold 2,314 shares of the company's stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $46.28, for a total value of $107,091.92. Following the completion of the transaction, the chief accounting officer now owns 85,421 shares in the company, valued at $3,953,283.88. This represents a 2.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 25,097 shares of company stock valued at $1,087,094 in the last three months. 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.