Zacks Investment Management bought a new position in shares of Maplebear Inc. (NASDAQ:CART - Free Report) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 119,115 shares of the company's stock, valued at approximately $4,853,000.
Other hedge funds and other institutional investors have also modified their holdings of the company. Huntington National Bank acquired a new position in shares of Maplebear in the third quarter valued at about $54,000. nVerses Capital LLC grew its position in shares of Maplebear by 1,600.0% during the 2nd 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. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Maplebear during the third quarter worth approximately $74,000. Quarry LP raised its position in shares of Maplebear by 269.5% in the second quarter. Quarry LP now owns 3,928 shares of the company's stock valued at $126,000 after buying an additional 2,865 shares in the last quarter. Finally, Vinva Investment Management Ltd bought a new stake in shares of Maplebear in the third quarter valued at approximately $212,000. Institutional investors own 63.09% of the company's stock.
Maplebear Price Performance
NASDAQ CART traded down $1.72 during mid-day trading on Monday, reaching $42.47. 4,040,593 shares of the stock were exchanged, compared to its average volume of 3,992,253. The stock has a market cap of $10.91 billion, a P/E ratio of 28.59, a P/E/G ratio of 1.15 and a beta of 0.94. Maplebear Inc. has a one year low of $22.13 and a one year high of $50.01. The stock has a 50 day simple moving average of $43.61 and a 200-day simple moving average of $37.53.
Maplebear (NASDAQ:CART - Get Free Report) last posted its quarterly earnings data on Tuesday, November 12th. The company reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.20. Maplebear had a return on equity of 13.78% and a net margin of 13.37%. The firm had revenue of $852.00 million during the quarter, compared to analyst estimates of $844.03 million. During the same period last year, the company posted ($20.86) EPS. The business's quarterly revenue was up 11.5% on a year-over-year basis. Sell-side analysts anticipate that Maplebear Inc. will post 1.4 EPS for the current fiscal year.
Analyst Ratings Changes
A number of research analysts recently commented on CART shares. Deutsche Bank Aktiengesellschaft began coverage on Maplebear in a research report on Tuesday, December 3rd. They issued a "hold" rating and a $37.00 price target on the stock. Cantor Fitzgerald restated an "overweight" rating and set a $45.00 price objective on shares of Maplebear in a research report on Monday, October 7th. JPMorgan Chase & Co. boosted their target price on Maplebear from $47.00 to $52.00 and gave the stock an "overweight" rating in a research note on Wednesday, November 13th. Needham & Company LLC restated a "hold" rating on shares of Maplebear in a research note on Wednesday, November 13th. Finally, Oppenheimer upped their price objective on shares of Maplebear from $55.00 to $60.00 and gave the stock an "outperform" rating in a research 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. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $47.14.
Check Out Our Latest Stock Analysis on Maplebear
Insider Buying and Selling at Maplebear
In related news, General Counsel Morgan Fong sold 8,345 shares of the company's stock in a transaction dated 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 owns 330,886 shares in the company, valued at $13,235,440. This represents a 2.46 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Alan Ramsay sold 2,486 shares of the firm's stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $41.39, for a total transaction of $102,895.54. Following the completion of the transaction, the chief accounting officer now directly owns 99,225 shares in the company, valued at approximately $4,106,922.75. The trade was 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 valued at $4,890,405. 36.00% of the stock is currently owned by company 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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