2,297,497 Shares in Maplebear Inc. (NASDAQ:CART) Purchased by Norges Bank

Norges Bank bought a new stake in shares of Maplebear Inc. (NASDAQ:CART - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 2,297,497 shares of the company's stock, valued at approximately $95,162,000. Norges Bank owned 0.89% of Maplebear as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of CART. State Street Corp lifted its position in shares of Maplebear by 48.3% during the third quarter. State Street Corp now owns 2,552,617 shares of the company's stock valued at $103,994,000 after buying an additional 831,795 shares during the last quarter. Cerity Partners LLC purchased a new stake in Maplebear during the third quarter valued at approximately $1,442,000. Zacks Investment Management acquired a new stake in Maplebear in the third quarter valued at approximately $4,853,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Maplebear by 95.1% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 30,258 shares of the company's stock worth $1,233,000 after purchasing an additional 14,750 shares during the last quarter. Finally, Janney Montgomery Scott LLC increased its position in shares of Maplebear by 212.1% during the fourth quarter. Janney Montgomery Scott LLC now owns 23,938 shares of the company's stock worth $992,000 after purchasing an additional 16,267 shares in the last quarter. Institutional investors own 63.09% of the company's stock.

Analyst Ratings Changes

CART has been the subject of a number of recent analyst reports. Morgan Stanley raised their price objective on Maplebear from $44.00 to $45.00 and gave the stock an "equal weight" rating in a research report on Wednesday, February 26th. Seaport Res Ptn upgraded Maplebear to a "strong-buy" rating in a research note on Wednesday, February 12th. Benchmark reaffirmed a "hold" rating on shares of Maplebear in a research report on Wednesday, February 26th. Barclays boosted their target price on shares of Maplebear from $56.00 to $58.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 26th. Finally, Bank of America lifted their price objective on shares of Maplebear from $51.00 to $53.00 and gave the stock a "neutral" rating in a research note on Tuesday, February 25th. Thirteen analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Maplebear currently has a consensus rating of "Moderate Buy" and a consensus target price of $50.13.

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Maplebear Price Performance

CART stock traded down $2.65 during mid-day trading on Friday, reaching $37.37. 4,411,284 shares of the company's stock were exchanged, compared to its average volume of 4,026,065. The company has a market cap of $9.89 billion, a price-to-earnings ratio of 25.08, a price-to-earnings-growth ratio of 1.19 and a beta of 1.19. Maplebear Inc. has a 12-month low of $29.84 and a 12-month high of $53.44. The stock's 50 day moving average is $43.98 and its 200 day moving average is $43.61.

Maplebear (NASDAQ:CART - Get Free Report) last announced its 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 firm had revenue of $883.00 million for the quarter, compared to analyst estimates of $889.98 million. Maplebear had a return on equity of 13.78% and a net margin of 13.37%. On average, research analysts forecast that Maplebear Inc. will post 1.43 earnings per share for the current fiscal year.

Insider Transactions at Maplebear

In related news, CEO Fidji Simo sold 2,033 shares of the stock in a transaction 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 completion of the transaction, the chief executive officer now directly owns 1,654,559 shares of the company's stock, valued at approximately $66,182,360. This represents a 0.12 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Alan Ramsay sold 2,314 shares of the firm's stock in a transaction on Tuesday, January 21st. The shares were 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 disclosure for this sale can be found here. Insiders sold 25,097 shares of company stock valued at $1,087,094 over the last 90 days. Corporate insiders own 36.00% of the company's stock.

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.