Trexquant Investment LP Takes $2.75 Million Position in Maplebear Inc. (NASDAQ:CART)

Trexquant Investment LP purchased a new position in Maplebear Inc. (NASDAQ:CART - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 66,473 shares of the company's stock, valued at approximately $2,753,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Jones Financial Companies Lllp raised its holdings in shares of Maplebear by 46.6% in the 4th quarter. Jones Financial Companies Lllp now owns 698 shares of the company's stock worth $29,000 after buying an additional 222 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of Maplebear in the 3rd quarter valued at $33,000. Allworth Financial LP grew its holdings in shares of Maplebear by 101.4% in 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 last quarter. Cullen Frost Bankers Inc. acquired a new stake in shares of Maplebear during the 4th quarter worth about $62,000. Finally, PNC Financial Services Group Inc. lifted its holdings in Maplebear by 243.3% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,399 shares of the company's stock valued at $141,000 after purchasing an additional 2,409 shares during the last quarter. Institutional investors own 63.09% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. FBN Securities assumed coverage on shares of Maplebear in a research note on Friday, March 28th. They issued a "sector perform" rating and a $44.00 target price for the company. Cantor Fitzgerald restated an "overweight" rating and set a $55.00 target price on shares of Maplebear in a report on Wednesday, February 26th. Wedbush cut their price target on Maplebear from $48.00 to $46.00 and set a "neutral" rating for the company in a report on Wednesday, February 26th. Seaport Res Ptn raised shares of Maplebear to a "strong-buy" rating in a report on Wednesday, February 12th. Finally, BMO Capital Markets boosted their target price on shares of Maplebear from $48.00 to $49.00 and gave the stock a "market perform" rating in a research note on Wednesday, February 26th. Twelve equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $50.61.

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Maplebear Stock Performance

NASDAQ CART traded up $2.57 during trading hours on Friday, reaching $41.17. 4,963,842 shares of the company's stock were exchanged, compared to its average volume of 4,071,923. The company has a market capitalization of $10.90 billion, a price-to-earnings ratio of 27.63, a price-to-earnings-growth ratio of 1.19 and a beta of 1.20. The company's 50-day moving average is $42.67 and its two-hundred day moving average is $43.45. 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 issued its quarterly earnings data on Tuesday, February 25th. The company reported $0.53 EPS for the quarter, topping analysts' consensus estimates of $0.37 by $0.16. The business had revenue of $883.00 million for the quarter, compared to analyst estimates of $889.98 million. Maplebear had a net margin of 13.37% and a return on equity of 13.78%. Research analysts predict that Maplebear Inc. will post 1.43 earnings per share for the current fiscal year.

Insider Activity at Maplebear

In related news, CEO Fidji Simo sold 2,033 shares of the stock in a transaction that occurred on Monday, March 17th. The stock was 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 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Alan Ramsay sold 2,314 shares of the company's stock in a transaction that occurred on 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 owns 85,421 shares in the company, valued at approximately $3,953,283.88. This represents a 2.64 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 25,097 shares of company stock valued at $1,087,094. 36.00% of the stock is owned by insiders.

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.