Russell Investments Group Ltd. Increases Position in Maplebear Inc. (NASDAQ:CART)

Russell Investments Group Ltd. increased its stake in Maplebear Inc. (NASDAQ:CART - Free Report) by 91.0% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 644,080 shares of the company's stock after purchasing an additional 306,910 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.25% of Maplebear worth $26,709,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in shares of Maplebear by 16.8% during the 4th quarter. Vanguard Group Inc. now owns 15,968,358 shares of the company's stock worth $661,409,000 after buying an additional 2,300,288 shares during the period. Victory Capital Management Inc. lifted its position in Maplebear by 11,501.2% during the 4th quarter. Victory Capital Management Inc. now owns 4,526,673 shares of the company's stock worth $187,495,000 after acquiring an additional 4,487,654 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Maplebear by 151.7% during the third quarter. Geode Capital Management LLC now owns 2,732,738 shares of the company's stock valued at $111,361,000 after acquiring an additional 1,647,081 shares during the period. Boston Partners acquired a new stake in shares of Maplebear in the fourth quarter valued at about $111,506,000. Finally, State Street Corp grew its position in shares of Maplebear by 48.3% in the third quarter. State Street Corp now owns 2,552,617 shares of the company's stock valued at $103,994,000 after purchasing an additional 831,795 shares during the last quarter. Institutional investors own 63.09% of the company's stock.

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Maplebear Price Performance

Shares of CART stock traded up $1.11 on Monday, reaching $42.28. 948,254 shares of the company were exchanged, compared to its average volume of 4,059,363. The company has a 50-day moving average of $42.67 and a 200-day moving average of $43.48. The company has a market cap of $11.10 billion, a price-to-earnings ratio of 28.38, a PEG ratio of 1.19 and a beta of 1.20. Maplebear Inc. has a one year low of $29.84 and a one year high of $53.44.

Maplebear (NASDAQ:CART - Get Free Report) last released its quarterly earnings data 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 firm had revenue of $883.00 million for the quarter, compared to the consensus estimate of $889.98 million. Maplebear had a net margin of 13.37% and a return on equity of 13.78%. As a group, sell-side analysts predict that Maplebear Inc. will post 1.43 EPS for the current year.

Insider Transactions at Maplebear

In related news, CAO Alan Ramsay sold 2,314 shares of the business's stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $46.28, for a total value of $107,091.92. Following the sale, the chief accounting officer now directly owns 85,421 shares in the company, valued at approximately $3,953,283.88. The trade was a 2.64 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Fidji Simo sold 2,033 shares of the business's stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 1,654,559 shares in the company, valued at approximately $66,182,360. This trade represents a 0.12 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 25,097 shares of company stock worth $1,087,094 in the last quarter. 36.00% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

CART has been the topic of a number of research analyst reports. Wedbush lowered their target price on Maplebear from $48.00 to $46.00 and set a "neutral" rating on the stock in a report on Wednesday, February 26th. Morgan Stanley raised their price objective on shares of Maplebear from $44.00 to $45.00 and gave the stock an "equal weight" rating in a research note on Wednesday, February 26th. Needham & Company LLC reiterated a "buy" rating and set a $56.00 target price on shares of Maplebear in a research note on Wednesday, February 26th. FBN Securities started coverage on shares of Maplebear in a report on Friday, March 28th. They issued a "sector perform" rating and a $44.00 price target for the company. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Maplebear from $50.00 to $44.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. Twelve analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $50.61.

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.