Maplebear Inc. (NASDAQ:CART) Stock Position Increased by Parallel Advisors LLC

Parallel Advisors LLC lifted its stake in shares of Maplebear Inc. (NASDAQ:CART - Free Report) by 269.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 25,911 shares of the company's stock after acquiring an additional 18,897 shares during the period. Parallel Advisors LLC's holdings in Maplebear were worth $1,073,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the stock. Jones Financial Companies Lllp grew its position in Maplebear by 46.6% during the fourth quarter. Jones Financial Companies Lllp now owns 698 shares of the company's stock valued at $29,000 after acquiring an additional 222 shares during the period. Wilmington Savings Fund Society FSB acquired a new position in shares of Maplebear in the 3rd quarter valued at about $33,000. Allworth Financial LP grew its holdings in shares of Maplebear by 101.4% during the 4th quarter. Allworth Financial LP now owns 834 shares of the company's stock worth $37,000 after purchasing an additional 420 shares during the period. Cullen Frost Bankers Inc. acquired a new stake in Maplebear during the 4th quarter worth approximately $62,000. Finally, PNC Financial Services Group Inc. raised its holdings in Maplebear by 243.3% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,399 shares of the company's stock valued at $141,000 after buying an additional 2,409 shares during the period. 63.09% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Maplebear

In related news, CAO Alan Ramsay sold 2,314 shares of Maplebear stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $46.28, for a total transaction of $107,091.92. Following the sale, the chief accounting officer now directly owns 85,421 shares in the company, valued at $3,953,283.88. The trade was a 2.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Fidji Simo sold 2,033 shares of the stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $40.00, for a total transaction of $81,320.00. Following the completion of the transaction, the chief executive officer now owns 1,654,559 shares of the company's stock, valued at $66,182,360. This represents a 0.12 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 25,097 shares of company stock worth $1,087,094. Company insiders own 36.00% of the company's stock.

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Maplebear Stock Up 5.2 %

NASDAQ CART traded up $2.01 during trading hours on Monday, hitting $40.91. The company had a trading volume of 4,495,122 shares, compared to its average volume of 3,942,831. The firm has a market cap of $10.83 billion, a P/E ratio of 27.46, a price-to-earnings-growth ratio of 1.19 and a beta of 1.34. Maplebear Inc. has a fifty-two week low of $29.84 and a fifty-two week high of $53.44. The business has a fifty day simple moving average of $45.10 and a 200-day simple moving average of $43.34.

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

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on CART shares. Cantor Fitzgerald reissued an "overweight" rating and issued a $55.00 price objective on shares of Maplebear in a research report on Wednesday, February 26th. Wedbush decreased their price target on shares of Maplebear from $48.00 to $46.00 and set a "neutral" rating for the company in a research report on Wednesday, February 26th. Seaport Res Ptn raised Maplebear to a "strong-buy" rating in a research report on Wednesday, February 12th. Benchmark reaffirmed a "hold" rating on shares of Maplebear in a research report on Wednesday, February 26th. Finally, Loop Capital lowered their target price on Maplebear from $56.00 to $52.00 and set a "buy" rating for the company in a research note on Thursday, March 6th. Thirteen investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $50.52.

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.