Victory Capital Management Inc. Has $187.50 Million Stake in Maplebear Inc. (NASDAQ:CART)

Victory Capital Management Inc. boosted its stake in Maplebear Inc. (NASDAQ:CART - Free Report) by 11,501.2% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,526,673 shares of the company's stock after buying an additional 4,487,654 shares during the quarter. Victory Capital Management Inc. owned approximately 1.76% of Maplebear worth $187,495,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Jones Financial Companies Lllp raised its holdings in shares of Maplebear by 46.6% during the 4th quarter. Jones Financial Companies Lllp now owns 698 shares of the company's stock valued at $29,000 after purchasing an additional 222 shares in the last quarter. CIBC Asset Management Inc raised its holdings in shares of Maplebear by 3.7% during the 3rd quarter. CIBC Asset Management Inc now owns 8,114 shares of the company's stock valued at $331,000 after purchasing an additional 286 shares in the last quarter. Allworth Financial LP raised 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 valued at $37,000 after purchasing an additional 420 shares in the last quarter. Coldstream Capital Management Inc. raised its holdings in shares of Maplebear by 1.6% during the 3rd quarter. Coldstream Capital Management Inc. now owns 31,745 shares of the company's stock valued at $1,294,000 after purchasing an additional 490 shares in the last quarter. Finally, Oppenheimer & Co. Inc. raised its holdings in Maplebear by 5.1% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 12,090 shares of the company's stock worth $493,000 after acquiring an additional 584 shares during the period. Institutional investors own 63.09% of the company's stock.

Wall Street Analysts Forecast Growth

CART has been the topic of several recent analyst reports. Loop Capital lifted their target price on shares of Maplebear from $49.00 to $56.00 and gave the stock a "buy" rating in a report on Monday, December 9th. Robert W. Baird lifted their target price on shares of Maplebear from $44.00 to $51.00 and gave the stock an "outperform" rating in a report on Wednesday, November 13th. Needham & Company LLC reiterated a "buy" rating and issued a $56.00 target price on shares of Maplebear in a report on Wednesday, February 26th. BMO Capital Markets raised their price target on shares of Maplebear from $48.00 to $49.00 and gave the stock a "market perform" rating in a research report on Wednesday, February 26th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Maplebear from $52.00 to $50.00 and set an "overweight" rating on the stock in a research report on Wednesday, February 26th. Thirteen research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Maplebear has an average rating of "Moderate Buy" and a consensus price target of $49.92.

Insider Activity at Maplebear

In related news, CAO Alan Ramsay sold 2,247 shares of the business's stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $42.14, for a total transaction of $94,688.58. Following the completion of the transaction, the chief accounting officer now owns 87,735 shares in the company, valued at approximately $3,697,152.90. The trade was a 2.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Fidji Simo sold 20,750 shares of the company's stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $43.31, for a total transaction of $898,682.50. Following the completion of the transaction, the chief executive officer now owns 1,662,692 shares of the company's stock, valued at $72,011,190.52. This trade represents a 1.23 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 46,061 shares of company stock worth $1,987,318. 36.00% of the stock is currently owned by company insiders.

Maplebear Trading Up 0.4 %

Shares of CART traded up $0.15 on Wednesday, reaching $38.59. 3,893,681 shares of the company's stock were exchanged, compared to its average volume of 3,868,913. The stock has a market capitalization of $9.91 billion, a P/E ratio of 25.90, a price-to-earnings-growth ratio of 1.19 and a beta of 1.34. The business has a 50 day moving average price of $46.15 and a two-hundred day moving average price of $42.94. Maplebear Inc. has a 12 month low of $29.84 and a 12 month 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 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.37 by $0.16. The firm had revenue of $883.00 million during the quarter, compared to analysts' expectations of $889.98 million. Maplebear had a net margin of 13.37% and a return on equity of 13.78%. Equities research analysts predict that Maplebear Inc. will post 1.43 EPS for the current 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.