Kornitzer Capital Management Inc. KS increased its position in Maplebear Inc. (NASDAQ:CART - Free Report) by 19.5% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 245,000 shares of the company's stock after purchasing an additional 40,000 shares during the quarter. Kornitzer Capital Management Inc. KS owned approximately 0.10% of Maplebear worth $10,148,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds also recently made changes to their positions in CART. CIBC Asset Management Inc boosted its holdings in shares of Maplebear by 5.4% during the 4th quarter. CIBC Asset Management Inc now owns 8,554 shares of the company's stock valued at $354,000 after buying an additional 440 shares in the last quarter. Allworth Financial LP increased its stake 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. Certuity LLC boosted its position in shares of Maplebear by 67.8% in the 4th quarter. Certuity LLC now owns 56,435 shares of the company's stock worth $2,338,000 after purchasing an additional 22,798 shares in the last quarter. Newbridge Financial Services Group Inc. bought a new position in Maplebear during the 4th quarter valued at about $151,000. Finally, Wilmington Savings Fund Society FSB grew its stake in shares of Maplebear by 120.2% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 1,795 shares of the company's stock worth $74,000 after acquiring an additional 980 shares during the period. 63.09% of the stock is currently owned by institutional investors.
Insider Transactions at Maplebear
In other news, CAO Alan Ramsay sold 2,314 shares of the 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 transaction, the chief accounting officer now directly owns 85,421 shares of the company's stock, valued at approximately $3,953,283.88. This represents a 2.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Fidji Simo sold 20,750 shares of the firm's stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $42.74, for a total value of $886,855.00. Following the completion of the transaction, the chief executive officer now owns 1,771,993 shares of the company's stock, valued at approximately $75,734,980.82. The trade was a 1.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 46,061 shares of company stock valued at $1,980,263 in the last quarter. 36.00% of the stock is currently owned by corporate insiders.
Maplebear Price Performance
CART stock traded down $0.23 during mid-day trading on Friday, reaching $52.32. The company had a trading volume of 4,273,508 shares, compared to its average volume of 2,791,221. The company has a market capitalization of $13.44 billion, a PE ratio of 35.11, a price-to-earnings-growth ratio of 1.19 and a beta of 1.07. The firm has a 50 day moving average of $46.20 and a 200 day moving average of $42.29. Maplebear Inc. has a 12 month low of $28.56 and a 12 month high of $53.44.
Analysts Set New Price Targets
CART has been the subject of a number of research analyst reports. JMP Securities lifted their target price on shares of Maplebear from $42.00 to $51.00 and gave the stock a "market outperform" rating in a research report on Wednesday, November 13th. Barclays raised their price objective on shares of Maplebear from $48.00 to $56.00 and gave the company an "overweight" rating in a research report on Wednesday, November 13th. Wells Fargo & Company started coverage on Maplebear in a research note on Friday, January 10th. They issued an "equal weight" rating and a $47.00 price objective for the company. Needham & Company LLC upgraded Maplebear from a "hold" rating to a "buy" rating and set a $56.00 target price for the company in a research report on Monday, January 13th. Finally, JPMorgan Chase & Co. boosted their price target on Maplebear from $47.00 to $52.00 and gave the stock an "overweight" rating in a report on Wednesday, November 13th. Thirteen equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $48.96.
Check Out Our Latest Stock Analysis on Maplebear
About Maplebear
(
Free Report)
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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