National Bank of Canada FI Purchases 40,744 Shares of Maplebear Inc. (NASDAQ:CART)

National Bank of Canada FI grew its position in Maplebear Inc. (NASDAQ:CART - Free Report) by 3,628.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 41,867 shares of the company's stock after purchasing an additional 40,744 shares during the quarter. National Bank of Canada FI's holdings in Maplebear were worth $1,734,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of CART. Victory Capital Management Inc. lifted its position in Maplebear by 11,501.2% during the 4th 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 last quarter. Boston Partners bought a new position in Maplebear in the 4th quarter worth approximately $111,506,000. Vanguard Group Inc. lifted its holdings in shares of Maplebear by 16.8% during the fourth quarter. Vanguard Group Inc. now owns 15,968,358 shares of the company's stock worth $661,409,000 after buying an additional 2,300,288 shares during the last quarter. Norges Bank bought a new position in Maplebear during the fourth quarter worth $95,162,000. Finally, Geode Capital Management LLC boosted its holdings in Maplebear by 151.7% in the 3rd quarter. Geode Capital Management LLC now owns 2,732,738 shares of the company's stock valued at $111,361,000 after purchasing an additional 1,647,081 shares during the period. 63.09% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CART has been the subject of a number of recent research reports. Morgan Stanley increased their target price on Maplebear from $44.00 to $45.00 and gave the stock an "equal weight" rating in a report on Wednesday, February 26th. Wedbush dropped their price objective on shares of Maplebear from $48.00 to $46.00 and set a "neutral" rating for the company in a report on Wednesday, February 26th. 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 report on Wednesday, February 26th. Oppenheimer dropped their price target on Maplebear from $65.00 to $60.00 and set an "outperform" rating for the company in a report on Wednesday, February 26th. Finally, Mizuho decreased their target price on Maplebear from $55.00 to $52.00 and set an "outperform" rating on the stock in a report on Wednesday, February 26th. Twelve research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $50.61.

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Maplebear Price Performance

NASDAQ:CART traded up $0.57 during mid-day 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. The stock has a 50-day simple moving average of $42.67 and a two-hundred day simple moving average of $43.48. The stock has a market capitalization of $10.96 billion, a PE ratio of 28.01, a P/E/G ratio of 1.19 and a beta of 1.20. Maplebear Inc. has a 12 month low of $29.84 and a 12 month high of $53.44.

Maplebear (NASDAQ:CART - Get Free Report) last issued its quarterly earnings data on Tuesday, February 25th. The company reported $0.53 EPS for the quarter, beating the consensus estimate of $0.37 by $0.16. The business had revenue of $883.00 million during the quarter, compared to the consensus estimate of $889.98 million. Maplebear had a net margin of 13.37% and a return on equity of 13.78%. Equities analysts expect that Maplebear Inc. will post 1.43 EPS for the current year.

Insiders Place Their Bets

In related news, CAO Alan Ramsay sold 2,314 shares of the company's stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $46.28, for a total value of $107,091.92. Following the sale, the chief accounting officer now owns 85,421 shares in the company, valued at $3,953,283.88. This represents a 2.64 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Fidji Simo sold 2,033 shares of the business's stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $40.00, for a total value of $81,320.00. Following the sale, the chief executive officer now directly owns 1,654,559 shares of the company's stock, valued at $66,182,360. This represents a 0.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 25,097 shares of company stock valued at $1,087,094 in the last ninety days. 36.00% of the stock is currently owned by insiders.

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.