Alliancebernstein L.P. Purchases 287,477 Shares of Maplebear Inc. (NASDAQ:CART)

Alliancebernstein L.P. raised its position in shares of Maplebear Inc. (NASDAQ:CART - Free Report) by 343.6% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 371,140 shares of the company's stock after purchasing an additional 287,477 shares during the quarter. Alliancebernstein L.P. owned approximately 0.14% of Maplebear worth $15,373,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Jones Financial Companies Lllp increased its holdings in shares of Maplebear by 46.6% during the fourth quarter. Jones Financial Companies Lllp now owns 698 shares of the company's stock valued at $29,000 after acquiring an additional 222 shares in the last quarter. Allworth Financial LP raised its holdings in Maplebear by 101.4% during the fourth quarter. Allworth Financial LP now owns 834 shares of the company's stock worth $37,000 after buying an additional 420 shares during the last quarter. CIBC Asset Management Inc lifted its stake in shares of Maplebear by 5.4% in the fourth 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. Coldstream Capital Management Inc. increased its position in shares of Maplebear by 1.6% during the third quarter. Coldstream Capital Management Inc. now owns 31,745 shares of the company's stock worth $1,294,000 after acquiring an additional 490 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new position in Maplebear in the 3rd quarter valued at about $33,000. 63.09% of the stock is currently owned by institutional investors and hedge funds.

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Analyst Ratings Changes

A number of research firms have recently weighed in on CART. Benchmark restated a "hold" rating on shares of Maplebear in a report on Wednesday, February 26th. Oppenheimer reduced their target price on shares of Maplebear from $65.00 to $60.00 and set an "outperform" 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 company an "outperform" rating in a research report on Thursday, February 27th. Seaport Res Ptn upgraded shares of Maplebear to a "strong-buy" rating in a research note on Wednesday, February 12th. Finally, BMO Capital Markets boosted their target price on Maplebear from $48.00 to $49.00 and gave the stock a "market perform" rating in a research note on Wednesday, February 26th. Twelve equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $50.61.

Insider Transactions at Maplebear

In related news, CAO Alan Ramsay sold 2,314 shares of Maplebear 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 completion of the sale, the chief accounting officer now directly owns 85,421 shares in the company, 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 can be accessed through the SEC website. Also, CEO Fidji Simo sold 2,033 shares of the company's stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $40.00, for a total transaction of $81,320.00. Following 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. Insiders sold a total of 25,097 shares of company stock valued at $1,087,094 in the last quarter. 36.00% of the stock is owned by insiders.

Maplebear Trading Up 1.4 %

CART traded up $0.57 during trading on Monday, reaching $41.74. The stock had a trading volume of 490,990 shares, compared to its average volume of 4,056,875. Maplebear Inc. has a one year low of $29.84 and a one year high of $53.44. The company has a market capitalization of $10.96 billion, a price-to-earnings ratio of 28.01, a P/E/G ratio of 1.19 and a beta of 1.20. The stock's 50 day moving average is $42.67 and its two-hundred day moving average is $43.48.

Maplebear (NASDAQ:CART - Get Free Report) last released its 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. Maplebear had a net margin of 13.37% and a return on equity of 13.78%. The firm had revenue of $883.00 million during the quarter, compared to analyst estimates of $889.98 million. On average, equities research analysts predict that Maplebear Inc. will post 1.43 earnings per share for the current year.

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.