Rhumbline Advisers grew its stake in shares of Maplebear Inc. (NASDAQ:CART - Free Report) by 170.6% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 433,254 shares of the company's stock after acquiring an additional 273,161 shares during the period. Rhumbline Advisers owned about 0.17% of Maplebear worth $17,282,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently modified their holdings of CART. Jones Financial Companies Lllp lifted its stake in Maplebear by 46.6% in the 4th quarter. Jones Financial Companies Lllp now owns 698 shares of the company's stock worth $29,000 after purchasing an additional 222 shares in the last quarter. Allworth Financial LP raised its position in Maplebear by 101.4% in the 4th quarter. Allworth Financial LP now owns 834 shares of the company's stock worth $37,000 after purchasing an additional 420 shares during the period. CIBC Asset Management Inc raised its position in Maplebear by 5.4% in the 4th quarter. CIBC Asset Management Inc now owns 8,554 shares of the company's stock worth $354,000 after purchasing an additional 440 shares during the period. WCG Wealth Advisors LLC raised its position in Maplebear by 3.3% in the 4th quarter. WCG Wealth Advisors LLC now owns 14,256 shares of the company's stock worth $590,000 after purchasing an additional 451 shares during the period. Finally, State of Wyoming grew its holdings in Maplebear by 6.6% in the 4th quarter. State of Wyoming now owns 8,628 shares of the company's stock worth $357,000 after acquiring an additional 534 shares during the last quarter. 63.09% of the stock is owned by institutional investors.
Maplebear Trading Down 0.0%
Shares of NASDAQ:CART traded down $0.01 during midday trading on Wednesday, reaching $44.17. 3,851,079 shares of the company were exchanged, compared to its average volume of 4,016,192. The business's fifty day moving average is $43.50 and its two-hundred day moving average is $43.73. Maplebear Inc. has a one year low of $29.84 and a one year high of $53.44. The stock has a market cap of $11.60 billion, a PE ratio of 29.64, a price-to-earnings-growth ratio of 1.19 and a beta of 1.30.
Maplebear (NASDAQ:CART - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The company reported $0.37 EPS for the quarter, missing the consensus estimate of $0.38 by ($0.01). Maplebear had a net margin of 13.37% and a return on equity of 13.78%. The business had revenue of $897.00 million for the quarter, compared to the consensus estimate of $896.86 million. During the same quarter last year, the business earned $0.43 EPS. Maplebear's revenue for the quarter was up 9.4% compared to the same quarter last year. As a group, sell-side analysts expect that Maplebear Inc. will post 1.43 EPS for the current year.
Insider Activity
In other Maplebear news, Director Levien Meredith A. Kopit sold 4,225 shares of the company's stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $47.45, for a total value of $200,476.25. Following the transaction, the director now directly owns 20,829 shares in the company, valued at $988,336.05. This represents a 16.86% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Fidji Simo sold 2,033 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer now owns 1,654,559 shares in the company, valued at approximately $66,182,360. This represents a 0.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 19,640 shares of company stock valued at $843,579. 26.00% of the stock is currently owned by company insiders.
Analysts Set New Price Targets
A number of equities research analysts have issued reports on the stock. Morgan Stanley raised their price target on shares of Maplebear from $44.00 to $45.00 and gave the stock an "equal weight" rating in a report on Wednesday, February 26th. Wedbush lowered their price target on shares of Maplebear from $48.00 to $46.00 and set a "neutral" rating for the company in a research report on Wednesday, February 26th. BMO Capital Markets lifted their target price on shares of Maplebear from $48.00 to $49.00 and gave the stock a "market perform" rating in a report on Wednesday, February 26th. Mizuho decreased their price objective on shares of Maplebear from $55.00 to $52.00 and set an "outperform" rating for the company in a report on Wednesday, February 26th. Finally, Wall Street Zen cut shares of Maplebear from a "buy" rating to a "hold" rating in a report on Friday, May 30th. Thirteen equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $51.91.
Check Out Our Latest Research Report on CART
About Maplebear
(
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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