Neo Ivy Capital Management Purchases Shares of 47,156 Maplebear Inc. (NASDAQ:CART)

Neo Ivy Capital Management bought a new stake in Maplebear Inc. (NASDAQ:CART - Free Report) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 47,156 shares of the company's stock, valued at approximately $1,922,000.

A number of other large investors also recently modified their holdings of the stock. Huntington National Bank purchased a new position in Maplebear in the third quarter worth $54,000. nVerses Capital LLC boosted 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 purchasing an additional 1,600 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new position in Maplebear in the third quarter worth $74,000. Quarry LP boosted its position in Maplebear by 269.5% in the second quarter. Quarry LP now owns 3,928 shares of the company's stock worth $126,000 after purchasing an additional 2,865 shares during the last quarter. Finally, Vinva Investment Management Ltd purchased a new position in Maplebear in the third quarter worth $212,000. Institutional investors own 63.09% of the company's stock.

Insider Buying and Selling at Maplebear

In related news, General Counsel Morgan Fong sold 29,253 shares of Maplebear stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $48.03, for a total transaction of $1,405,021.59. Following the sale, the general counsel now directly owns 258,406 shares in the company, valued at $12,411,240.18. This trade represents a 10.17 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Fidji Simo sold 20,750 shares of Maplebear stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $44.39, for a total transaction of $921,092.50. Following the completion of the transaction, the chief executive officer now owns 1,803,278 shares in the company, valued at approximately $80,047,510.42. This represents a 1.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 110,954 shares of company stock worth $4,890,405. Insiders own 36.00% of the company's stock.

Maplebear Stock Performance

NASDAQ:CART traded up $0.05 during trading hours on Wednesday, reaching $42.42. The company's stock had a trading volume of 1,288,487 shares, compared to its average volume of 3,978,177. The company has a market capitalization of $10.90 billion, a P/E ratio of 28.44, a price-to-earnings-growth ratio of 1.15 and a beta of 0.94. Maplebear Inc. has a 12 month low of $22.13 and a 12 month high of $50.01. The stock has a 50 day moving average price of $43.68 and a two-hundred day moving average price of $37.67.

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

Wall Street Analyst Weigh In

CART has been the topic of a number of analyst reports. Loop Capital boosted their price objective on Maplebear from $49.00 to $56.00 and gave the company a "buy" rating in a research note on Monday. BMO Capital Markets upped their target price on Maplebear from $39.00 to $48.00 and gave the stock a "market perform" rating in a research note on Wednesday, November 13th. Jefferies Financial Group began coverage on Maplebear in a research note on Wednesday, October 16th. They issued a "hold" rating and a $43.00 target price on the stock. Cantor Fitzgerald restated an "overweight" rating and issued a $45.00 target price on shares of Maplebear in a research note on Monday, October 7th. Finally, Needham & Company LLC restated a "hold" rating on shares of Maplebear in a research note on Wednesday, November 13th. Thirteen equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $47.14.

Maplebear 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.