9,000 Shares in Maplebear Inc. (NASDAQ:CART) Purchased by Lake Street Advisors Group LLC

Lake Street Advisors Group LLC bought a new position in Maplebear Inc. (NASDAQ:CART - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 9,000 shares of the company's stock, valued at approximately $373,000.

A number of other hedge funds also recently made changes to their positions in the company. Pacer Advisors Inc. purchased a new position in shares of Maplebear in the 3rd quarter worth $158,701,000. Geode Capital Management LLC grew its position in Maplebear by 151.7% in the third quarter. Geode Capital Management LLC now owns 2,732,738 shares of the company's stock worth $111,361,000 after acquiring an additional 1,647,081 shares in the last quarter. Maverick Capital Ltd. increased its stake in Maplebear by 19.7% during the third quarter. Maverick Capital Ltd. now owns 2,684,425 shares of the company's stock worth $109,363,000 after acquiring an additional 441,156 shares during the last quarter. State Street Corp increased its stake in Maplebear by 48.3% during the third quarter. State Street Corp now owns 2,552,617 shares of the company's stock worth $103,994,000 after acquiring an additional 831,795 shares during the last quarter. Finally, Southpoint Capital Advisors LP raised its position in Maplebear by 56.3% during the third quarter. Southpoint Capital Advisors LP now owns 2,500,000 shares of the company's stock valued at $101,850,000 after purchasing an additional 900,000 shares during the period. 63.09% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on CART. 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. Piper Sandler boosted their price objective on shares of Maplebear from $50.00 to $58.00 and gave the company an "overweight" rating in a research report on Wednesday, November 13th. JMP Securities raised their target price on shares of Maplebear from $42.00 to $51.00 and gave the stock a "market outperform" rating in a report on Wednesday, November 13th. Oppenheimer cut their price target on shares of Maplebear from $65.00 to $60.00 and set an "outperform" rating on the stock in a report on Wednesday, February 26th. Finally, Benchmark reissued a "hold" rating on shares of Maplebear in a research report on Wednesday, February 26th. Thirteen equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Maplebear has a consensus rating of "Moderate Buy" and an average target price of $49.92.

Maplebear Stock Performance

CART traded down $2.19 on Monday, hitting $38.90. The company had a trading volume of 5,529,447 shares, compared to its average volume of 4,539,054. The stock has a market capitalization of $9.99 billion, a price-to-earnings ratio of 26.11, a P/E/G ratio of 1.19 and a beta of 1.07. The stock has a fifty day moving average price of $46.43 and a 200-day moving average price of $42.88. 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 issued its quarterly earnings data on Tuesday, February 25th. The company reported $0.53 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.37 by $0.16. The firm had revenue of $883.00 million for 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%. Analysts forecast that Maplebear Inc. will post 1.43 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Fidji Simo sold 20,750 shares of the business's stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $43.31, for a total transaction of $898,682.50. Following the sale, the chief executive officer now owns 1,662,692 shares in the company, valued at approximately $72,011,190.52. The trade was a 1.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Alan Ramsay sold 2,247 shares of the stock in a transaction that occurred 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 directly owns 87,735 shares of the company's stock, valued at $3,697,152.90. The trade was a 2.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 46,061 shares of company stock valued at $1,987,318. 36.00% of the stock is currently owned by insiders.

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.