Zurcher Kantonalbank Zurich Cantonalbank Grows Holdings in Maplebear Inc. (NASDAQ:CART)

Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Maplebear Inc. (NASDAQ:CART - Free Report) by 47.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 44,558 shares of the company's stock after buying an additional 14,300 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Maplebear were worth $1,846,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in CART. Jones Financial Companies Lllp lifted its position in shares of Maplebear by 46.6% during the fourth 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 lifted its position in shares of Maplebear by 3.7% during the third 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 lifted its position in shares of Maplebear by 101.4% during the fourth 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. lifted its position in shares of Maplebear by 1.6% during the third 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. lifted 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 valued at $493,000 after purchasing an additional 584 shares in the last quarter. 63.09% of the stock is currently owned by institutional investors and hedge funds.

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Maplebear Price Performance

CART stock traded down $0.03 during midday trading on Friday, reaching $38.90. The company had a trading volume of 13,043,278 shares, compared to its average volume of 3,925,630. The company has a market capitalization of $10.29 billion, a P/E ratio of 26.11, a P/E/G ratio of 1.19 and a beta of 1.34. Maplebear Inc. has a 1 year low of $29.84 and a 1 year high of $53.44. The firm has a 50-day moving average price of $45.21 and a 200-day moving average price of $43.19.

Maplebear (NASDAQ:CART - Get Free Report) last announced its quarterly earnings data on Tuesday, February 25th. The company reported $0.53 earnings per share for the quarter, topping analysts' consensus estimates of $0.37 by $0.16. The firm had revenue of $883.00 million during the quarter, compared to analyst estimates of $889.98 million. Maplebear had a net margin of 13.37% and a return on equity of 13.78%. On average, equities analysts predict that Maplebear Inc. will post 1.43 EPS for the current year.

Insider Transactions at Maplebear

In related news, CAO Alan Ramsay sold 2,314 shares of the company's stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $46.28, for a total transaction of $107,091.92. Following the completion of the sale, the chief accounting officer now directly owns 85,421 shares in the company, valued at $3,953,283.88. This represents a 2.64 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Fidji Simo sold 2,033 shares of the company's stock in a transaction on Monday, March 17th. The shares were sold at an average price of $40.00, for a total transaction of $81,320.00. Following the sale, the chief executive officer now owns 1,654,559 shares of the company's stock, valued at $66,182,360. This represents a 0.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 25,097 shares of company stock worth $1,087,094. 36.00% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Benchmark reissued a "hold" rating on shares of Maplebear in a research report on Wednesday, February 26th. Oppenheimer lowered their price objective on shares of Maplebear from $65.00 to $60.00 and set an "outperform" rating on the stock in a research report on Wednesday, February 26th. Deutsche Bank Aktiengesellschaft began coverage on shares of Maplebear in a research report on Tuesday, December 3rd. They issued a "hold" rating and a $37.00 price objective on the stock. BTIG Research raised shares of Maplebear from a "neutral" rating to a "buy" rating and set a $58.00 price objective on the stock in a research report on Tuesday, January 14th. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $56.00 price objective on shares of Maplebear in a research report on Wednesday, February 26th. Thirteen equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $50.52.

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.