Verition Fund Management LLC Buys 221,091 Shares of Maplebear Inc. (NASDAQ:CART)

Verition Fund Management LLC raised its position in shares of Maplebear Inc. (NASDAQ:CART - Free Report) by 54.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 630,809 shares of the company's stock after purchasing an additional 221,091 shares during the quarter. Verition Fund Management LLC owned 0.24% of Maplebear worth $25,699,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of CART. Vinva Investment Management Ltd purchased a new stake in shares of Maplebear in the third quarter worth approximately $212,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Maplebear by 95.1% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 30,258 shares of the company's stock valued at $1,233,000 after buying an additional 14,750 shares during the period. FORA Capital LLC purchased a new stake in Maplebear in the 3rd quarter worth approximately $5,231,000. Beaconlight Capital LLC boosted its stake in shares of Maplebear by 54.7% during the 3rd quarter. Beaconlight Capital LLC now owns 213,797 shares of the company's stock valued at $8,710,000 after buying an additional 75,598 shares during the period. Finally, Blueshift Asset Management LLC acquired a new stake in shares of Maplebear during the 3rd quarter valued at $788,000. Hedge funds and other institutional investors own 63.09% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Benchmark reiterated a "hold" rating on shares of Maplebear in a report on Wednesday, August 7th. Bank of America upped their target price on Maplebear from $50.00 to $51.00 and gave the stock a "neutral" rating in a research report on Wednesday, November 13th. Robert W. Baird lifted their price target on Maplebear from $44.00 to $51.00 and gave the company an "outperform" rating in a report on Wednesday, November 13th. Macquarie boosted their price target on Maplebear from $50.00 to $52.00 and gave the company an "outperform" rating in a research note on Thursday, November 14th. Finally, Stifel Nicolaus raised their price objective on shares of Maplebear from $52.00 to $55.00 and gave the company a "buy" rating in a research report on Monday, October 28th. Twelve investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $47.29.

Insider Buying and Selling

In other news, General Counsel Morgan Fong sold 8,345 shares of the company's stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $40.00, for a total value of $333,800.00. Following the sale, the general counsel now directly owns 330,886 shares of the company's stock, valued at approximately $13,235,440. This represents a 2.46 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Alan Ramsay sold 2,486 shares of the stock in a transaction on Friday, September 20th. The stock was sold at an average price of $41.39, for a total transaction of $102,895.54. Following the sale, the chief accounting officer now owns 99,225 shares of the company's stock, valued at approximately $4,106,922.75. This trade represents a 2.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 110,954 shares of company stock valued at $4,890,405 in the last three months. Insiders own 36.00% of the company's stock.

Maplebear Trading Up 0.5 %

NASDAQ:CART traded up $0.23 during trading hours on Friday, hitting $43.67. 1,464,834 shares of the company traded hands, compared to its average volume of 3,990,993. The firm has a 50-day moving average of $43.20 and a 200 day moving average of $37.11. Maplebear Inc. has a twelve month low of $22.13 and a twelve month high of $50.01. The stock has a market capitalization of $11.22 billion, a price-to-earnings ratio of 29.31, a P/E/G ratio of 1.12 and a beta of 1.12.

Maplebear (NASDAQ:CART - Get Free Report) last posted its earnings results on Tuesday, November 12th. The company reported $0.42 earnings per share for the quarter, topping analysts' consensus estimates of $0.22 by $0.20. The firm had revenue of $852.00 million for the quarter, compared to analyst estimates of $844.03 million. Maplebear had a net margin of 13.37% and a return on equity of 13.78%. The company's revenue for the quarter was up 11.5% compared to the same quarter last year. During the same period in the previous year, the firm posted ($20.86) EPS. Equities research analysts predict that Maplebear Inc. will post 1.4 earnings per share for the current fiscal year.

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.