Zacks Investment Management Acquires 9,748 Shares of Maplebear Inc. (NASDAQ:CART)

Zacks Investment Management increased its position in shares of Maplebear Inc. (NASDAQ:CART - Free Report) by 8.2% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 128,863 shares of the company's stock after buying an additional 9,748 shares during the period. Zacks Investment Management owned 0.05% of Maplebear worth $5,338,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Jones Financial Companies Lllp grew its holdings in Maplebear by 46.6% during the 4th quarter. Jones Financial Companies Lllp now owns 698 shares of the company's stock worth $29,000 after acquiring an additional 222 shares during the period. Wilmington Savings Fund Society FSB bought a new stake in shares of Maplebear in the 3rd quarter valued at $33,000. Allworth Financial LP boosted its stake in Maplebear by 101.4% during the fourth quarter. Allworth Financial LP now owns 834 shares of the company's stock worth $37,000 after acquiring an additional 420 shares in the last quarter. NewEdge Advisors LLC grew its holdings in Maplebear by 277.9% in the fourth quarter. NewEdge Advisors LLC now owns 975 shares of the company's stock worth $40,000 after purchasing an additional 717 shares during the period. Finally, Cullen Frost Bankers Inc. bought a new stake in Maplebear in the fourth quarter valued at $62,000. Institutional investors and hedge funds own 63.09% of the company's stock.

Insider Buying and Selling at Maplebear

In other Maplebear news, CEO Fidji Simo sold 20,750 shares of the firm's stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $43.31, for a total transaction of $898,682.50. Following the sale, the chief executive officer now owns 1,662,692 shares in the company, valued at $72,011,190.52. This trade represents a 1.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders sold a total of 30,916 shares of company stock worth $1,318,335 over the last three months. 36.00% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Mizuho reduced their target price on Maplebear from $55.00 to $52.00 and set an "outperform" rating for the company in a research note on Wednesday, February 26th. Stifel Nicolaus upped their target price on Maplebear from $56.00 to $57.00 and gave the stock a "buy" rating in a research report on Wednesday, February 26th. Cantor Fitzgerald reissued an "overweight" rating and issued a $55.00 price target on shares of Maplebear in a research report on Wednesday, February 26th. Barclays upped their price objective on shares of Maplebear from $56.00 to $58.00 and gave the stock an "overweight" rating in a report on Wednesday, February 26th. Finally, Macquarie raised their price objective on shares of Maplebear from $52.00 to $55.00 and gave the company an "outperform" rating in a research note on Thursday, February 27th. 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 company. Based on data from MarketBeat.com, Maplebear presently has an average rating of "Moderate Buy" and an average price target of $50.61.

Maplebear Price Performance

CART stock traded up $0.92 during mid-day trading on Tuesday, reaching $42.71. 594,277 shares of the company traded hands, compared to its average volume of 4,056,774. The company has a fifty day moving average price of $41.81 and a 200-day moving average price of $43.57. Maplebear Inc. has a 52-week low of $29.84 and a 52-week high of $53.44. The company has a market capitalization of $11.21 billion, a P/E ratio of 28.70, a P/E/G ratio of 1.19 and a beta of 1.20.

Maplebear (NASDAQ:CART - Get Free Report) last posted its earnings results on Tuesday, February 25th. The company reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.16. Maplebear had a net margin of 13.37% and a return on equity of 13.78%. The business had revenue of $883.00 million for the quarter, compared to analysts' expectations of $889.98 million. As a group, analysts forecast that Maplebear Inc. will post 1.43 EPS for the current year.

Maplebear Company 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.