Jupiter Asset Management Ltd. Purchases New Stake in Maplebear Inc. (NASDAQ:CART)

Jupiter Asset Management Ltd. acquired a new position in shares of Maplebear Inc. (NASDAQ:CART - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 640,339 shares of the company's stock, valued at approximately $26,523,000. Jupiter Asset Management Ltd. owned 0.25% of Maplebear at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Victory Capital Management Inc. lifted its position in shares of Maplebear by 11,501.2% in the fourth 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 in the last quarter. Pacer Advisors Inc. purchased a new stake in Maplebear in the 3rd quarter worth approximately $158,701,000. Geode Capital Management LLC lifted its position in Maplebear by 151.7% in 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 in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Maplebear by 5,191.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,489,655 shares of the company's stock valued at $60,689,000 after buying an additional 1,461,501 shares during the period. Finally, Southpoint Capital Advisors LP grew its holdings in shares of Maplebear by 56.3% during the 3rd quarter. Southpoint Capital Advisors LP now owns 2,500,000 shares of the company's stock valued at $101,850,000 after acquiring an additional 900,000 shares in the last quarter. Hedge funds and other institutional investors own 63.09% of the company's stock.

Maplebear Price Performance

NASDAQ:CART opened at $38.80 on Thursday. Maplebear Inc. has a one year low of $29.84 and a one year high of $53.44. The company has a fifty day moving average price of $45.79 and a 200 day moving average price of $43.09. The stock has a market cap of $10.27 billion, a P/E ratio of 26.04, a PEG ratio of 1.19 and a beta of 1.34.

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Maplebear (NASDAQ:CART - Get Free Report) last announced its quarterly earnings data on Tuesday, February 25th. The company reported $0.53 EPS for the quarter, beating analysts' consensus estimates 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 analyst estimates of $889.98 million. As a group, equities research analysts anticipate that Maplebear Inc. will post 1.43 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Oppenheimer cut their price objective on Maplebear from $65.00 to $60.00 and set an "outperform" rating for the company in a report on Wednesday, February 26th. Loop Capital reduced their price target on Maplebear from $56.00 to $52.00 and set a "buy" rating for the company in a report on Thursday, March 6th. Stifel Nicolaus boosted their price target on Maplebear from $56.00 to $57.00 and gave the company a "buy" rating in a research note on Wednesday, February 26th. Mizuho cut their price objective on shares of Maplebear from $55.00 to $52.00 and set an "outperform" rating on the stock in a research report on Wednesday, February 26th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Maplebear in a research report on Tuesday, December 3rd. They issued a "hold" rating and a $37.00 target price for the company. Thirteen 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 stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $50.21.

Insider Buying and Selling at Maplebear

In other Maplebear news, CEO Fidji Simo sold 20,750 shares of the business's stock in a transaction 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 sale, the chief executive officer now owns 1,662,692 shares of the company's stock, valued at $72,011,190.52. The trade was a 1.23 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Alan Ramsay sold 2,247 shares of the stock in a transaction on Friday, December 20th. The shares were sold at an average price of $42.14, for a total transaction of $94,688.58. Following the completion of the transaction, the chief accounting officer now owns 87,735 shares of the company's stock, valued at approximately $3,697,152.90. This represents a 2.50 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 46,061 shares of company stock valued at $1,987,318 in the last quarter. Corporate insiders own 36.00% of the company's stock.

About Maplebear

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.

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