Hillsdale Investment Management Inc. Takes $766,000 Position in Maplebear Inc. (NASDAQ:CART)

Hillsdale Investment Management Inc. acquired a new stake in Maplebear Inc. (NASDAQ:CART - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 18,500 shares of the company's stock, valued at approximately $766,000.

A number of other hedge funds have also made changes to their positions in CART. Victory Capital Management Inc. boosted its holdings in Maplebear by 11,501.2% in the fourth quarter. Victory Capital Management Inc. now owns 4,526,673 shares of the company's stock valued at $187,495,000 after purchasing an additional 4,487,654 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Maplebear by 151.7% during the 3rd quarter. Geode Capital Management LLC now owns 2,732,738 shares of the company's stock worth $111,361,000 after buying an additional 1,647,081 shares during the last quarter. Boston Partners purchased a new stake in shares of Maplebear during the 4th quarter worth approximately $111,506,000. Maverick Capital Ltd. boosted its holdings 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 buying an additional 441,156 shares in the last quarter. Finally, State Street Corp grew its position 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 valued at $103,994,000 after buying an additional 831,795 shares during the last quarter. Hedge funds and other institutional investors own 63.09% of the company's stock.

Insider Buying and Selling at Maplebear

In other Maplebear news, CAO Alan Ramsay sold 2,314 shares of the business'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 directly owns 85,421 shares in the company, valued at approximately $3,953,283.88. The trade was a 2.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Fidji Simo sold 2,033 shares of the firm's stock in a transaction on Monday, March 17th. The shares were sold at an average price of $40.00, for a total value of $81,320.00. Following the completion of the transaction, the chief executive officer now owns 1,654,559 shares of the company's stock, valued at approximately $66,182,360. This represents a 0.12 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 25,097 shares of company stock valued at $1,087,094. Corporate insiders own 36.00% of the company's stock.

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Maplebear Stock Performance

Maplebear stock traded up $0.17 during midday trading on Thursday, reaching $40.52. The company's stock had a trading volume of 2,742,925 shares, compared to its average volume of 3,935,002. The firm has a market capitalization of $10.72 billion, a PE ratio of 27.19, a P/E/G ratio of 1.19 and a beta of 1.34. Maplebear Inc. has a fifty-two week low of $29.84 and a fifty-two week high of $53.44. The stock's 50 day simple moving average is $44.85 and its 200 day simple moving average is $43.41.

Maplebear (NASDAQ:CART - Get Free Report) last announced its quarterly 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 business had revenue of $883.00 million during the quarter, compared to the consensus estimate 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.

Analysts Set New Price Targets

A number of brokerages recently weighed in on CART. Cantor Fitzgerald reissued an "overweight" rating and issued a $55.00 price target on shares of Maplebear in a research report on Wednesday, February 26th. Benchmark reissued a "hold" rating on shares of Maplebear in a report on Wednesday, February 26th. Morgan Stanley raised their price target on Maplebear from $44.00 to $45.00 and gave the stock an "equal weight" rating in a research note on Wednesday, February 26th. Oppenheimer cut their price target on Maplebear from $65.00 to $60.00 and set an "outperform" rating on the stock in a research report on Wednesday, February 26th. Finally, Stifel Nicolaus increased their price objective on Maplebear from $56.00 to $57.00 and gave the company a "buy" rating in a report on Wednesday, February 26th. Thirteen investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $50.52.

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.