KLP Kapitalforvaltning AS Purchases Shares of 19,100 Maplebear Inc. (NASDAQ:CART)

KLP Kapitalforvaltning AS acquired a new stake in Maplebear Inc. (NASDAQ:CART - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 19,100 shares of the company's stock, valued at approximately $791,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. State Street Corp raised its holdings in shares of Maplebear by 48.3% during 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 period. Cerity Partners LLC acquired a new stake in Maplebear in the third quarter valued at approximately $1,442,000. Zacks Investment Management purchased a new stake in shares of Maplebear during the third quarter valued at approximately $4,853,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Maplebear by 95.1% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 30,258 shares of the company's stock valued at $1,233,000 after purchasing an additional 14,750 shares during the period. Finally, Janney Montgomery Scott LLC grew its holdings in Maplebear by 212.1% during the 4th quarter. Janney Montgomery Scott LLC now owns 23,938 shares of the company's stock valued at $992,000 after purchasing an additional 16,267 shares in the last quarter. Institutional investors and hedge funds 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 firm's stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $46.28, for a total transaction of $107,091.92. Following the transaction, the chief accounting officer now owns 85,421 shares of the company's stock, valued at approximately $3,953,283.88. This trade represents a 2.64 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Fidji Simo sold 2,033 shares of the company's stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $40.00, for a total transaction of $81,320.00. Following the completion of the sale, the chief executive officer now directly owns 1,654,559 shares of the company's stock, valued at approximately $66,182,360. This represents a 0.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 25,097 shares of company stock valued at $1,087,094 in the last quarter. Corporate insiders own 36.00% of the company's stock.

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Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Barclays upped their price objective on shares of Maplebear from $56.00 to $58.00 and gave the company an "overweight" rating in a research report on Wednesday, February 26th. BMO Capital Markets increased their price target on Maplebear from $48.00 to $49.00 and gave the company a "market perform" rating in a report on Wednesday, February 26th. Stifel Nicolaus raised their price objective on Maplebear from $56.00 to $57.00 and gave the company a "buy" rating in a research note on Wednesday, February 26th. JPMorgan Chase & Co. cut their target price on Maplebear from $52.00 to $50.00 and set an "overweight" rating on the stock in a research report on Wednesday, February 26th. Finally, FBN Securities began coverage on Maplebear in a research note on Friday, March 28th. They set a "sector perform" rating and a $44.00 target price for the company. Thirteen research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Maplebear has a consensus rating of "Moderate Buy" and an average target price of $50.13.

Maplebear Stock Performance

Shares of Maplebear stock traded down $2.65 during trading on Friday, hitting $37.37. 4,411,284 shares of the stock were exchanged, compared to its average volume of 4,026,065. The stock has a market cap of $9.89 billion, a PE ratio of 25.08, a P/E/G ratio of 1.19 and a beta of 1.19. The stock's fifty day moving average is $43.98 and its 200 day moving average is $43.58. Maplebear Inc. has a 12 month low of $29.84 and a 12 month high of $53.44.

Maplebear (NASDAQ:CART - Get Free Report) last announced its quarterly 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. 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%. Sell-side analysts anticipate that Maplebear Inc. will post 1.43 EPS for the current fiscal year.

Maplebear 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.