Maplebear Inc. (NASDAQ:CART) Shares Acquired by Investment House LLC

Investment House LLC increased its position in Maplebear Inc. (NASDAQ:CART) by 73.1% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 196,665 shares of the company’s stock after acquiring an additional 83,045 shares during the period. Investment House LLC’s holdings in Maplebear were worth $8,146,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Victory Capital Management Inc. raised its position in shares of Maplebear by 11,501.2% in the fourth quarter. Victory Capital Management Inc. now owns 4,526,673 shares of the company’s stock valued at $187,495,000 after buying an additional 4,487,654 shares during the last quarter. Pacer Advisors Inc. acquired a new position in shares of Maplebear in the third quarter valued at approximately $158,701,000. Geode Capital Management LLC raised its position in shares of Maplebear by 151.7% in the third quarter. Geode Capital Management LLC now owns 2,732,738 shares of the company’s stock valued at $111,361,000 after buying an additional 1,647,081 shares during the last quarter. Boston Partners acquired a new position in shares of Maplebear in the fourth quarter valued at approximately $111,506,000. Finally, Maverick Capital Ltd. raised its position in shares of Maplebear by 19.7% in the third quarter. Maverick Capital Ltd. now owns 2,684,425 shares of the company’s stock valued at $109,363,000 after buying an additional 441,156 shares during the last quarter. Institutional investors and hedge funds own 63.09% of the company’s stock.

Analysts Set New Price Targets

CART has been the subject of several research analyst reports. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $55.00 price target on shares of Maplebear in a research report on Wednesday, February 26th. Oppenheimer dropped their price target on shares of Maplebear from $65.00 to $60.00 and set an “outperform” rating for the company in a research report on Wednesday, February 26th. Loop Capital dropped their price target on shares of Maplebear from $56.00 to $52.00 and set a “buy” rating for the company in a research report on Thursday, March 6th. Wells Fargo & Company initiated coverage on shares of Maplebear in a research report on Friday, January 10th. They set an “equal weight” rating and a $47.00 price target for the company. Finally, Mizuho dropped their price target on shares of Maplebear from $55.00 to $52.00 and set an “outperform” rating for the company in a research report on Wednesday, February 26th. Thirteen analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $50.52.

Maplebear Trading Down 1.2 %

Shares of CART stock opened at $40.16 on Wednesday. The company has a market capitalization of $10.63 billion, a PE ratio of 26.95, a price-to-earnings-growth ratio of 1.19 and a beta of 1.34. The firm has a fifty day simple moving average of $45.43 and a 200-day simple moving average of $43.24. Maplebear Inc. has a twelve month low of $29.84 and a twelve month high of $53.44.

Maplebear (NASDAQ:CART) last announced its earnings results on Tuesday, February 25th. The company reported $0.53 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.16. The business had revenue of $883.00 million during the quarter, compared to the consensus estimate 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.

Insider Activity

In related news, CAO Alan Ramsay sold 2,247 shares of the company’s stock in a transaction on Friday, December 20th. The shares were sold at an average price of $42.14, for a total value of $94,688.58. Following the sale, the chief accounting officer now directly owns 87,735 shares of the company’s stock, valued at $3,697,152.90. This represents a 2.50 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Fidji Simo sold 20,750 shares of the company’s stock in a transaction 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 sale, the chief executive officer now directly owns 1,662,692 shares in the company, valued at $72,011,190.52. This represents a 1.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 25,311 shares of company stock worth $1,100,463. 36.00% of the stock is currently owned by company insiders.

Maplebear 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.