Marathon Trading Investment Management LLC acquired a new stake in shares of Maplebear Inc. (NASDAQ:CART - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 9,500 shares of the company's stock, valued at approximately $393,000.
Several other institutional investors also recently bought and sold shares of the business. Portman Ltd bought a new stake in Maplebear during the 3rd quarter valued at $3,196,000. State Street Corp lifted its stake in shares of Maplebear by 48.3% during the 3rd quarter. State Street Corp now owns 2,552,617 shares of the company's stock worth $103,994,000 after purchasing an additional 831,795 shares during the last quarter. Cerity Partners LLC bought a new stake in Maplebear during the third quarter valued at about $1,442,000. Charles Schwab Investment Management Inc. boosted its position in Maplebear by 5,191.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,489,655 shares of the company's stock valued at $60,689,000 after purchasing an additional 1,461,501 shares in the last quarter. Finally, Zacks Investment Management purchased a new position in Maplebear in the third quarter valued at about $4,853,000. 63.09% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of analysts have recently weighed in on CART shares. Wells Fargo & Company initiated coverage on shares of Maplebear in a report on Friday, January 10th. They issued an "equal weight" rating and a $47.00 price target on the stock. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $55.00 price target on shares of Maplebear in a report on Wednesday, February 26th. Barclays upped 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. Benchmark reissued a "hold" rating on shares of Maplebear in a research report on Wednesday, February 26th. Finally, Needham & Company LLC restated a "buy" rating and set a $56.00 target price on shares of Maplebear in a research note on Wednesday, February 26th. Thirteen research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $50.21.
Check Out Our Latest Report on CART
Maplebear Stock Up 3.0 %
Shares of CART stock traded up $1.11 on Friday, hitting $38.57. The company had a trading volume of 2,745,597 shares, compared to its average volume of 3,892,984. The firm has a market cap of $10.21 billion, a P/E ratio of 25.89, a price-to-earnings-growth ratio of 1.19 and a beta of 1.34. Maplebear Inc. has a twelve month low of $29.84 and a twelve month high of $53.44. The company has a 50-day moving average price of $45.68 and a 200-day moving average price of $43.05.
Maplebear (NASDAQ:CART - Get Free Report) last announced its quarterly earnings results on Tuesday, February 25th. The company reported $0.53 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.37 by $0.16. The company had revenue of $883.00 million during the quarter, compared to the consensus estimate of $889.98 million. Maplebear had a return on equity of 13.78% and a net margin of 13.37%. Equities research analysts expect that Maplebear Inc. will post 1.43 EPS for the current year.
Insider Activity 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 transaction, the chief accounting officer now owns 85,421 shares in the company, valued at $3,953,283.88. The trade was a 2.64 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Fidji Simo sold 20,750 shares of the stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $43.31, for a total value of $898,682.50. Following the transaction, the chief executive officer now owns 1,662,692 shares in the company, valued at $72,011,190.52. This represents a 1.23 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 46,061 shares of company stock worth $1,987,318 in the last three months. Company insiders own 36.00% of the company's stock.
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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