Quantbot Technologies LP bought a new position in shares of Maplebear Inc. (NASDAQ:CART - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 71,806 shares of the company's stock, valued at approximately $2,974,000.
Several other large investors have also added to or reduced their stakes in CART. Jones Financial Companies Lllp boosted its stake in shares of Maplebear by 46.6% in the fourth quarter. Jones Financial Companies Lllp now owns 698 shares of the company's stock worth $29,000 after acquiring an additional 222 shares during the period. Wilmington Savings Fund Society FSB bought a new position in Maplebear in the 3rd quarter worth approximately $33,000. Allworth Financial LP grew its holdings in Maplebear by 101.4% during the 4th quarter. Allworth Financial LP now owns 834 shares of the company's stock valued at $37,000 after buying an additional 420 shares in the last quarter. Cullen Frost Bankers Inc. purchased a new stake in Maplebear during the 4th quarter valued at approximately $62,000. Finally, PNC Financial Services Group Inc. raised its position in shares of Maplebear by 243.3% during 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 last quarter. Hedge funds and other institutional investors own 63.09% of the company's stock.
Wall Street Analyst Weigh In
A number of analysts have issued reports on the stock. Wedbush reduced their price target on shares of Maplebear from $48.00 to $46.00 and set a "neutral" rating on the stock in a report on Wednesday, February 26th. Stifel Nicolaus boosted their target price on Maplebear from $56.00 to $57.00 and gave the stock a "buy" rating in a research report on Wednesday, February 26th. JPMorgan Chase & Co. dropped their price target on Maplebear from $52.00 to $50.00 and set an "overweight" rating for the company in a research note on Wednesday, February 26th. Oppenheimer decreased their price objective on Maplebear from $65.00 to $60.00 and set an "outperform" rating on the stock in a report on Wednesday, February 26th. Finally, Benchmark reiterated a "hold" rating on shares of Maplebear in a research report on Wednesday, February 26th. Thirteen research 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 stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $50.52.
Read Our Latest Analysis on CART
Insiders Place Their Bets
In related news, CAO Alan Ramsay sold 2,314 shares of the company's stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $46.28, for a total transaction of $107,091.92. Following the completion of the sale, the chief accounting officer now directly owns 85,421 shares in the company, valued at $3,953,283.88. This represents a 2.64 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Fidji Simo sold 2,033 shares of the firm's stock in a transaction dated Monday, March 17th. The shares were 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 in the company, valued at approximately $66,182,360. The trade was a 0.12 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 25,097 shares of company stock worth $1,087,094 in the last three months. Corporate insiders own 36.00% of the company's stock.
Maplebear Trading Up 0.4 %
Shares of NASDAQ CART traded up $0.17 during trading hours on Thursday, reaching $40.52. The stock had a trading volume of 2,742,925 shares, compared to its average volume of 3,935,002. Maplebear Inc. has a 52-week low of $29.84 and a 52-week high of $53.44. The firm has a market cap of $10.72 billion, a price-to-earnings ratio of 27.19, a P/E/G ratio of 1.19 and a beta of 1.34. The business's fifty day moving average price is $44.85 and its two-hundred day moving average price is $43.41.
Maplebear (NASDAQ:CART - Get Free Report) last issued its earnings results on Tuesday, February 25th. The company reported $0.53 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.16. The business had revenue of $883.00 million during the quarter, compared to analysts' expectations of $889.98 million. Maplebear had a return on equity of 13.78% and a net margin of 13.37%. Equities research analysts anticipate that Maplebear Inc. will post 1.43 earnings per share for the current fiscal year.
About Maplebear
(
Free Report)
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.
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