Nordea Investment Management AB Acquires Shares of 49,243 Maplebear Inc. (NASDAQ:CART)

Nordea Investment Management AB purchased a new stake in Maplebear Inc. (NASDAQ:CART - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 49,243 shares of the company's stock, valued at approximately $2,078,000.

Other large investors also recently bought and sold shares of the company. Wilmington Savings Fund Society FSB bought a new position in Maplebear in the third quarter worth approximately $33,000. Huntington National Bank acquired a new position in shares of Maplebear during the third quarter worth $54,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Maplebear during the third quarter worth $74,000. Quarry LP increased its position in shares of Maplebear by 269.5% during 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 in the last quarter. Finally, Vinva Investment Management Ltd acquired a new position in shares of Maplebear during the third quarter worth $212,000. Institutional investors own 63.09% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Morgan Stanley reduced their price target on Maplebear from $45.00 to $41.00 and set an "equal weight" rating on the stock in a research report on Tuesday, September 24th. Piper Sandler upped their price target on Maplebear from $50.00 to $58.00 and gave the stock an "overweight" rating in a research report on Wednesday, November 13th. Needham & Company LLC reaffirmed a "hold" rating on shares of Maplebear in a research report on Wednesday, November 13th. Barclays upped their price target on Maplebear from $48.00 to $56.00 and gave the stock an "overweight" rating in a research report on Wednesday, November 13th. Finally, Macquarie upped their target price on Maplebear from $50.00 to $52.00 and gave the company an "outperform" rating in a research report on Thursday, November 14th. Fourteen analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and an average target price of $47.13.

Insider Transactions at Maplebear

In related news, CEO Fidji Simo sold 20,750 shares of the firm's stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $44.39, for a total value of $921,092.50. Following the transaction, the chief executive officer now directly owns 1,803,278 shares of the company's stock, valued at approximately $80,047,510.42. This trade represents a 1.14 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Alan Ramsay sold 2,247 shares of the firm's stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $42.14, for a total transaction of $94,688.58. Following the completion of the transaction, the chief accounting officer now directly owns 87,735 shares in the company, valued at $3,697,152.90. This represents a 2.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 112,128 shares of company stock valued at $4,980,404 in the last ninety days. 36.00% of the stock is currently owned by corporate insiders.

Maplebear Stock Down 1.3 %

Shares of CART stock traded down $0.59 during mid-day trading on Friday, hitting $44.23. 6,075,492 shares of the stock were exchanged, compared to its average volume of 4,003,749. The firm has a fifty day moving average of $43.59 and a 200 day moving average of $39.38. Maplebear Inc. has a 52-week low of $22.60 and a 52-week high of $50.01. The company has a market cap of $11.36 billion, a PE ratio of 29.68, a price-to-earnings-growth ratio of 1.08 and a beta of 1.04.

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

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.