Renaissance Technologies LLC Has $71.99 Million Stock Holdings in Maplebear Inc. (NASDAQ:CART)

Renaissance Technologies LLC boosted its holdings in Maplebear Inc. (NASDAQ:CART - Free Report) by 18.9% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,737,953 shares of the company's stock after buying an additional 276,691 shares during the quarter. Renaissance Technologies LLC owned 0.68% of Maplebear worth $71,986,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in shares of Maplebear by 16.8% during the 4th quarter. Vanguard Group Inc. now owns 15,968,358 shares of the company's stock worth $661,409,000 after acquiring an additional 2,300,288 shares in the last quarter. Victory Capital Management Inc. increased its position in shares of Maplebear by 11,501.2% during the fourth quarter. Victory Capital Management Inc. now owns 4,526,673 shares of the company's stock worth $187,495,000 after acquiring an additional 4,487,654 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Maplebear by 151.7% in the 3rd quarter. Geode Capital Management LLC now owns 2,732,738 shares of the company's stock worth $111,361,000 after buying an additional 1,647,081 shares during the period. Boston Partners purchased a new stake in Maplebear in the fourth quarter worth about $111,506,000. Finally, State Street Corp boosted its stake in shares of Maplebear by 48.3% during the third quarter. State Street Corp now owns 2,552,617 shares of the company's stock valued at $103,994,000 after purchasing an additional 831,795 shares in the last quarter. Institutional investors own 63.09% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. Needham & Company LLC reissued a "buy" rating and set a $56.00 price target on shares of Maplebear in a report on Wednesday, February 26th. Seaport Res Ptn upgraded Maplebear to a "strong-buy" rating in a report on Wednesday, February 12th. Cantor Fitzgerald restated an "overweight" rating and set a $55.00 price objective on shares of Maplebear in a research report on Wednesday, February 26th. Macquarie increased their price objective 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, BTIG Research raised shares of Maplebear from a "neutral" rating to a "buy" rating and set a $58.00 price target on the stock in a research report on Tuesday, January 14th. Twelve 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, Maplebear currently has an average rating of "Moderate Buy" and a consensus target price of $50.61.

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Insiders Place Their Bets

In other news, CEO Fidji Simo sold 2,033 shares of the business's stock in a transaction 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 of the company's stock, valued at $66,182,360. The trade was a 0.12 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Alan Ramsay sold 2,314 shares of the company's stock in a transaction 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 transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 25,097 shares of company stock valued at $1,087,094 in the last 90 days. 36.00% of the stock is currently owned by insiders.

Maplebear Stock Performance

Shares of CART traded up $0.17 during trading hours on Tuesday, hitting $41.97. 1,134,438 shares of the company were exchanged, compared to its average volume of 4,063,964. The firm's 50 day moving average is $42.54 and its 200-day moving average is $43.49. The company has a market cap of $11.02 billion, a PE ratio of 28.17, a PEG ratio of 1.19 and a beta of 1.20. Maplebear Inc. has a 52 week low of $29.84 and a 52 week high of $53.44.

Maplebear (NASDAQ:CART - Get Free Report) last announced 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 during the quarter, compared to the consensus estimate of $889.98 million. As a group, equities analysts forecast that Maplebear Inc. will post 1.43 earnings per share for the current fiscal 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.