Wellington Management Group LLP Boosts Stock Position in Maplebear Inc. (NASDAQ:CART)

Wellington Management Group LLP raised its holdings in Maplebear Inc. (NASDAQ:CART - Free Report) by 867.0% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 554,882 shares of the company's stock after buying an additional 497,499 shares during the period. Wellington Management Group LLP owned about 0.22% of Maplebear worth $22,983,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in CART. Stifel Financial Corp raised its position in shares of Maplebear by 10.3% in the third quarter. Stifel Financial Corp now owns 25,561 shares of the company's stock valued at $1,041,000 after purchasing an additional 2,386 shares during the period. State Street Corp grew its stake in Maplebear by 48.3% in 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 last quarter. Zacks Investment Management bought a new position in Maplebear in the 3rd quarter valued at about $4,853,000. XTX Topco Ltd acquired a new stake in Maplebear during the third quarter worth approximately $977,000. Finally, Y Intercept Hong Kong Ltd bought a new stake in shares of Maplebear during the third quarter worth approximately $3,444,000. 63.09% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

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

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Maplebear Stock Up 6.7 %

CART traded up $2.57 during trading on Friday, reaching $41.17. 4,963,842 shares of the stock traded hands, compared to its average volume of 4,071,923. The stock's 50-day moving average is $42.67 and its 200 day moving average is $43.45. Maplebear Inc. has a 12 month low of $29.84 and a 12 month high of $53.44. The stock has a market capitalization of $10.90 billion, a PE ratio of 27.63, a P/E/G ratio of 1.19 and a beta of 1.20.

Maplebear (NASDAQ:CART - Get Free Report) last issued its quarterly earnings results on Tuesday, February 25th. The company reported $0.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.16. The firm had revenue of $883.00 million for the quarter, compared to analyst estimates of $889.98 million. Maplebear had a return on equity of 13.78% and a net margin of 13.37%. As a group, equities research analysts anticipate that Maplebear Inc. will post 1.43 EPS for the current year.

Analyst Upgrades and Downgrades

CART has been the subject of a number of recent research reports. JPMorgan Chase & Co. reduced their target price on shares of Maplebear from $50.00 to $44.00 and set an "overweight" rating for the company in a research report on Tuesday. Wells Fargo & Company cut their price objective on shares of Maplebear from $47.00 to $44.00 and set an "equal weight" rating for the company in a report on Thursday, April 3rd. Bank of America raised their target price on shares of Maplebear from $51.00 to $53.00 and gave the stock a "neutral" rating in a report on Tuesday, February 25th. Seaport Res Ptn upgraded Maplebear to a "strong-buy" rating in a research note on Wednesday, February 12th. Finally, Barclays increased their price target on Maplebear from $56.00 to $58.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 26th. Twelve analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $50.61.

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.