Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Maplebear Inc. (NASDAQ:CART - Free Report) by 95.1% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 30,258 shares of the company's stock after buying an additional 14,750 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Maplebear were worth $1,233,000 as of its most recent SEC filing.
Several other large investors also recently added to or reduced their stakes in CART. Huntington National Bank purchased a new position in Maplebear in the 3rd quarter worth approximately $54,000. nVerses Capital LLC grew its position in Maplebear by 1,600.0% in the second quarter. nVerses Capital LLC now owns 1,700 shares of the company's stock worth $55,000 after acquiring an additional 1,600 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new position in Maplebear in the third quarter valued at $74,000. Quarry LP raised its position in Maplebear by 269.5% during the second quarter. Quarry LP now owns 3,928 shares of the company's stock valued at $126,000 after purchasing an additional 2,865 shares in the last quarter. Finally, Watts Gwilliam & Co. LLC bought a new stake in Maplebear during the third quarter worth about $231,000. Institutional investors own 63.09% of the company's stock.
Insider Buying and Selling at Maplebear
In related news, CAO Alan Ramsay sold 2,486 shares of the company's stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $41.39, for a total value of $102,895.54. Following the sale, the chief accounting officer now owns 99,225 shares in the company, valued at $4,106,922.75. This represents a 2.44 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, General Counsel Morgan Fong sold 8,345 shares of Maplebear stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $40.00, for a total value of $333,800.00. Following the transaction, the general counsel now owns 330,886 shares of the company's stock, valued at $13,235,440. The trade was a 2.46 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 110,954 shares of company stock valued at $4,890,405. 36.00% of the stock is currently owned by company insiders.
Analyst Ratings Changes
A number of equities analysts recently weighed in on the company. BMO Capital Markets raised their price objective on Maplebear from $39.00 to $48.00 and gave the company a "market perform" rating in a report on Wednesday, November 13th. Oppenheimer lifted their price target on shares of Maplebear from $55.00 to $60.00 and gave the stock an "outperform" rating in a research note on Wednesday, November 13th. Morgan Stanley lowered their price objective on shares of Maplebear from $45.00 to $41.00 and set an "equal weight" rating for the company in a report on Tuesday, September 24th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $45.00 target price on shares of Maplebear in a report on Monday, October 7th. Finally, Jefferies Financial Group started coverage on shares of Maplebear in a research note on Wednesday, October 16th. They issued a "hold" rating and a $43.00 price target for the company. Thirteen equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, Maplebear currently has a consensus rating of "Moderate Buy" and a consensus target price of $46.82.
Check Out Our Latest Stock Report on Maplebear
Maplebear Price Performance
CART stock traded up $0.37 during trading on Friday, reaching $44.19. The company had a trading volume of 3,600,178 shares, compared to its average volume of 3,992,046. Maplebear Inc. has a 52 week low of $22.13 and a 52 week high of $50.01. The business has a 50 day moving average of $43.52 and a 200 day moving average of $37.38. The company has a market cap of $11.35 billion, a P/E ratio of 29.66, a PEG ratio of 1.13 and a beta of 0.94.
Maplebear (NASDAQ:CART - Get Free Report) last announced its earnings results on Tuesday, November 12th. The company reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.20. Maplebear had a return on equity of 13.78% and a net margin of 13.37%. The firm had revenue of $852.00 million during the quarter, compared to analyst estimates of $844.03 million. During the same quarter in the prior year, the company earned ($20.86) EPS. The business's revenue was up 11.5% compared to the same quarter last year. Research analysts expect that Maplebear Inc. will post 1.4 earnings per share for the current year.
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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