Maplebear Inc. (NASDAQ:CART) Position Increased by Vanguard Group Inc.

Vanguard Group Inc. raised its holdings in shares of Maplebear Inc. (NASDAQ:CART - Free Report) by 16.8% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 15,968,358 shares of the company's stock after purchasing an additional 2,300,288 shares during the quarter. Vanguard Group Inc. owned 6.22% of Maplebear worth $661,409,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Jones Financial Companies Lllp increased its stake in shares of Maplebear by 46.6% in the fourth quarter. Jones Financial Companies Lllp now owns 698 shares of the company's stock worth $29,000 after buying an additional 222 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new position in Maplebear during the 3rd quarter worth $33,000. Allworth Financial LP increased its position in shares of Maplebear by 101.4% in the 4th quarter. Allworth Financial LP now owns 834 shares of the company's stock worth $37,000 after purchasing an additional 420 shares during the last quarter. Cullen Frost Bankers Inc. acquired a new stake in shares of Maplebear in the 4th quarter valued at about $62,000. Finally, PNC Financial Services Group Inc. lifted its position in shares of Maplebear by 243.3% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,399 shares of the company's stock worth $141,000 after purchasing an additional 2,409 shares during the last quarter. 63.09% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on CART. Barclays upped their price objective on Maplebear from $56.00 to $58.00 and gave the company an "overweight" rating in a research note on Wednesday, February 26th. Oppenheimer reduced their price objective on Maplebear from $65.00 to $60.00 and set an "outperform" rating on the stock in a research note on Wednesday, February 26th. JPMorgan Chase & Co. lowered their target price on shares of Maplebear from $52.00 to $50.00 and set an "overweight" rating for the company in a research note on Wednesday, February 26th. Macquarie raised their price target on shares of Maplebear from $52.00 to $55.00 and gave the stock an "outperform" rating in a research report on Thursday, February 27th. Finally, Wells Fargo & Company decreased their price target on shares of Maplebear from $47.00 to $44.00 and set an "equal weight" rating for the company in a report on Thursday. Thirteen equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Maplebear currently has a consensus rating of "Moderate Buy" and a consensus price target of $50.13.

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Maplebear Stock Down 6.6 %

CART traded down $2.65 during trading on Friday, reaching $37.37. The stock had a trading volume of 4,411,284 shares, compared to its average volume of 4,021,503. The stock has a 50 day moving average of $43.98 and a two-hundred day moving average of $43.54. The firm has a market capitalization of $9.89 billion, a price-to-earnings ratio of 25.08, a price-to-earnings-growth ratio of 1.19 and a beta of 1.19. Maplebear Inc. has a 1-year low of $29.84 and a 1-year high of $53.44.

Maplebear (NASDAQ:CART - Get Free Report) last posted its quarterly earnings data on Tuesday, February 25th. The company reported $0.53 EPS for the quarter, topping analysts' consensus estimates of $0.37 by $0.16. Maplebear had a return on equity of 13.78% and a net margin of 13.37%. The company had revenue of $883.00 million for the quarter, compared to the consensus estimate of $889.98 million. On average, research analysts forecast that Maplebear Inc. will post 1.43 EPS for the current fiscal year.

Insider Buying and Selling at Maplebear

In other Maplebear news, CEO Fidji Simo sold 2,033 shares of Maplebear stock in a transaction that occurred 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 transaction, the chief executive officer now owns 1,654,559 shares in the company, valued at approximately $66,182,360. The trade was a 0.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CAO Alan Ramsay sold 2,314 shares of the stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $46.28, for a total value of $107,091.92. Following the sale, the chief accounting officer now owns 85,421 shares of the company's stock, valued at $3,953,283.88. This trade represents a 2.64 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 25,097 shares of company stock valued at $1,087,094. 36.00% of the stock is owned by insiders.

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.