Maplebear Inc. (NASDAQ:CART) Shares Bought by Franklin Resources Inc.

Franklin Resources Inc. increased its holdings in shares of Maplebear Inc. (NASDAQ:CART - Free Report) by 182.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 272,928 shares of the company's stock after acquiring an additional 176,137 shares during the period. Franklin Resources Inc. owned approximately 0.11% of Maplebear worth $11,692,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Wilmington Savings Fund Society FSB acquired a new stake in shares of Maplebear in the 3rd quarter worth approximately $33,000. Huntington National Bank purchased a new position in shares of Maplebear in the third quarter valued at $54,000. nVerses Capital LLC increased its position in shares of Maplebear by 1,600.0% in the second quarter. nVerses Capital LLC now owns 1,700 shares of the company's stock valued at $55,000 after buying an additional 1,600 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Maplebear during the 3rd quarter worth $74,000. Finally, Quarry LP boosted its position in shares of Maplebear by 269.5% in the 2nd quarter. Quarry LP now owns 3,928 shares of the company's stock worth $126,000 after buying an additional 2,865 shares in the last quarter. Hedge funds and other institutional investors own 63.09% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on CART shares. Macquarie lifted their target price on shares of Maplebear from $50.00 to $52.00 and gave the stock an "outperform" rating in a research report on Thursday, November 14th. Barclays lifted their price objective on Maplebear from $48.00 to $56.00 and gave the stock an "overweight" rating in a research report on Wednesday, November 13th. Needham & Company LLC reiterated a "hold" rating on shares of Maplebear in a report on Wednesday, November 13th. Stifel Nicolaus raised their price target on Maplebear from $52.00 to $55.00 and gave the stock a "buy" rating in a research report on Monday, October 28th. Finally, Robert W. Baird upped their price objective on Maplebear from $44.00 to $51.00 and gave the company an "outperform" rating in a research report on Wednesday, November 13th. Thirteen investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, Maplebear currently has an average rating of "Moderate Buy" and a consensus price target of $47.14.

Maplebear Trading Down 0.1 %

Shares of Maplebear stock traded down $0.05 during trading hours on Friday, reaching $42.02. The stock had a trading volume of 4,655,687 shares, compared to its average volume of 4,008,701. The firm has a market capitalization of $10.79 billion, a price-to-earnings ratio of 28.20, a P/E/G ratio of 1.08 and a beta of 0.94. Maplebear Inc. has a 1 year low of $22.13 and a 1 year high of $50.01. The firm has a 50 day simple moving average of $43.70 and a two-hundred day simple moving average of $38.24.

Maplebear (NASDAQ:CART - Get Free Report) last announced its quarterly earnings results on Tuesday, November 12th. The company reported $0.42 earnings per share for the quarter, beating analysts' consensus estimates of $0.22 by $0.20. Maplebear had a net margin of 13.37% and a return on equity of 13.78%. The firm had revenue of $852.00 million for the quarter, compared to analysts' expectations of $844.03 million. During the same period in the previous year, the company posted ($20.86) earnings per share. Maplebear's revenue was up 11.5% compared to the same quarter last year. Sell-side analysts forecast that Maplebear Inc. will post 1.4 EPS for the current year.

Insider Buying and Selling

In related news, General Counsel Morgan Fong sold 11,325 shares of the business's stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $42.97, for a total value of $486,635.25. Following the transaction, the general counsel now owns 287,659 shares in the company, valued at approximately $12,360,707.23. The trade was a 3.79 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Alan Ramsay sold 2,559 shares of the stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $42.97, for a total value of $109,960.23. Following the completion of the transaction, the chief accounting officer now directly owns 96,666 shares of the company's stock, valued at $4,153,738.02. This represents a 2.58 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 112,128 shares of company stock valued at $4,980,404. Company insiders own 36.00% of the company's stock.

About Maplebear

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.