XTX Topco Ltd bought a new stake in Maplebear Inc. (NASDAQ:CART - Free Report) in the 3rd quarter, according to its most recent filing with the SEC. The fund bought 23,971 shares of the company's stock, valued at approximately $977,000.
Other hedge funds have also recently added to or reduced their stakes in the company. CIBC Asset Management Inc lifted its position in Maplebear by 3.7% in the third quarter. CIBC Asset Management Inc now owns 8,114 shares of the company's stock valued at $331,000 after buying an additional 286 shares during the last quarter. Oppenheimer & Co. Inc. grew its position in shares of Maplebear by 5.1% during the third quarter. Oppenheimer & Co. Inc. now owns 12,090 shares of the company's stock worth $493,000 after buying an additional 584 shares in the last quarter. Creative Planning increased its position in shares of Maplebear by 9.5% in the 2nd quarter. Creative Planning now owns 9,566 shares of the company's stock valued at $307,000 after purchasing an additional 831 shares during the last quarter. Huntington National Bank purchased a new stake in shares of Maplebear during the 3rd quarter worth $54,000. Finally, nVerses Capital LLC grew its stake in shares of Maplebear by 1,600.0% during the second quarter. nVerses Capital LLC now owns 1,700 shares of the company's stock worth $55,000 after purchasing an additional 1,600 shares in the last quarter. 63.09% of the stock is owned by hedge funds and other institutional investors.
Maplebear Price Performance
CART traded down $0.72 during trading hours on Wednesday, hitting $41.65. 4,568,731 shares of the stock were exchanged, compared to its average volume of 3,992,041. Maplebear Inc. has a 12 month low of $22.13 and a 12 month high of $50.01. The stock has a 50-day simple moving average of $43.68 and a 200-day simple moving average of $37.67. The stock has a market cap of $10.70 billion, a price-to-earnings ratio of 28.44, a price-to-earnings-growth ratio of 1.15 and a beta of 0.94.
Maplebear (NASDAQ:CART - Get Free Report) last posted its earnings results on Tuesday, November 12th. The company reported $0.42 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.22 by $0.20. Maplebear had a return on equity of 13.78% and a net margin of 13.37%. The company had revenue of $852.00 million for the quarter, compared to analysts' expectations of $844.03 million. During the same period last year, the business posted ($20.86) earnings per share. The firm's quarterly revenue was up 11.5% compared to the same quarter last year. Sell-side analysts expect that Maplebear Inc. will post 1.4 EPS for the current year.
Wall Street Analysts Forecast Growth
CART has been the topic of a number of recent analyst reports. Piper Sandler increased their price objective on Maplebear from $50.00 to $58.00 and gave the company an "overweight" rating in a report on Wednesday, November 13th. JPMorgan Chase & Co. boosted their price objective on shares of Maplebear from $47.00 to $52.00 and gave the stock an "overweight" rating in a research report on Wednesday, November 13th. Bank of America lifted their price target on shares of Maplebear from $50.00 to $51.00 and gave the stock a "neutral" rating in a research note on Wednesday, November 13th. Macquarie lifted their target price on Maplebear from $50.00 to $52.00 and gave the stock an "outperform" rating in a research report on Thursday, November 14th. Finally, BMO Capital Markets increased their price objective on Maplebear from $39.00 to $48.00 and gave the company a "market perform" rating in a report on Wednesday, November 13th. Thirteen analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $47.14.
Check Out Our Latest Analysis on Maplebear
Insiders Place Their Bets
In related news, General Counsel Morgan Fong sold 8,345 shares of the stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $40.00, for a total value of $333,800.00. Following the completion of 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Alan Ramsay sold 2,486 shares of the company's stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $41.39, for a total value of $102,895.54. Following the completion of the transaction, the chief accounting officer now owns 99,225 shares in the company, valued at $4,106,922.75. This represents a 2.44 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 110,954 shares of company stock worth $4,890,405. 36.00% of the stock is owned by corporate insiders.
Maplebear Profile
(
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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