Handelsbanken Fonder AB Makes New $1.51 Million Investment in Maplebear Inc. (NASDAQ:CART)

Handelsbanken Fonder AB bought a new position in Maplebear Inc. (NASDAQ:CART - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor bought 36,400 shares of the company's stock, valued at approximately $1,508,000.

Several other hedge funds have also added to or reduced their stakes in the stock. CIBC Asset Management Inc raised its position in Maplebear by 3.7% in the 3rd quarter. CIBC Asset Management Inc now owns 8,114 shares of the company's stock worth $331,000 after buying an additional 286 shares during the last quarter. Allworth Financial LP grew its position in shares of Maplebear by 101.4% during the fourth quarter. Allworth Financial LP now owns 834 shares of the company's stock valued at $37,000 after purchasing an additional 420 shares in the last quarter. Coldstream Capital Management Inc. grew its holdings in shares of Maplebear by 1.6% in the third quarter. Coldstream Capital Management Inc. now owns 31,745 shares of the company's stock valued at $1,294,000 after purchasing an additional 490 shares in the last quarter. Oppenheimer & Co. Inc. lifted its holdings in shares of Maplebear by 5.1% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 12,090 shares of the company's stock valued at $493,000 after acquiring an additional 584 shares during the last quarter. Finally, Pier Capital LLC increased its position in Maplebear by 0.4% during the third quarter. Pier Capital LLC now owns 151,604 shares of the company's stock valued at $6,176,000 after acquiring an additional 616 shares during the last quarter. 63.09% of the stock is owned by institutional investors.

Insider Activity

In related news, CAO Alan Ramsay sold 2,247 shares of the company's stock in a transaction on Friday, December 20th. The shares were sold at an average price of $42.14, for a total value of $94,688.58. Following the completion of the sale, the chief accounting officer now owns 87,735 shares in the company, valued at $3,697,152.90. This represents a 2.50 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Fidji Simo sold 20,750 shares of the firm's stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $43.31, for a total value of $898,682.50. Following the transaction, the chief executive officer now directly owns 1,662,692 shares in the company, valued at approximately $72,011,190.52. This represents a 1.23 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 46,061 shares of company stock worth $1,987,318. Corporate insiders own 36.00% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. BMO Capital Markets raised their price target on shares of Maplebear from $48.00 to $49.00 and gave the stock a "market perform" rating in a research note on Wednesday. Morgan Stanley raised their price objective on Maplebear from $44.00 to $45.00 and gave the stock an "equal weight" rating in a research note on Wednesday. Mizuho lowered their target price on Maplebear from $55.00 to $52.00 and set an "outperform" rating on the stock in a research note on Wednesday. BTIG Research upgraded Maplebear from a "neutral" rating to a "buy" rating and set a $58.00 price target on the stock in a research report on Tuesday, January 14th. Finally, Wedbush decreased their price objective on Maplebear from $48.00 to $46.00 and set a "neutral" rating on the stock in a report on Wednesday. Thirteen research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Maplebear presently has a consensus rating of "Moderate Buy" and an average target price of $49.92.

Maplebear Stock Up 0.9 %

Maplebear stock traded up $0.35 during mid-day trading on Friday, reaching $41.09. 5,558,472 shares of the company's stock were exchanged, compared to its average volume of 4,521,604. The company has a fifty day moving average of $46.43 and a 200-day moving average of $42.80. Maplebear Inc. has a twelve month low of $29.84 and a twelve month high of $53.44. The company has a market cap of $10.56 billion, a P/E ratio of 27.58, a P/E/G ratio of 1.19 and a beta of 1.07.

Maplebear (NASDAQ:CART - Get Free Report) last released its quarterly earnings data on Tuesday, February 25th. The company reported $0.53 earnings per share (EPS) for the quarter, topping 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 business had revenue of $883.00 million during the quarter, compared to analysts' expectations of $889.98 million. Equities research analysts expect that Maplebear Inc. will post 1.43 earnings per share for the current fiscal year.

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.