Assenagon Asset Management S.A. raised its holdings in shares of Maplebear Inc. (NASDAQ:CART – Free Report) by 6.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 144,030 shares of the company’s stock after acquiring an additional 8,599 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Maplebear were worth $5,745,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. increased its holdings in Maplebear by 16.8% in the 4th quarter. Vanguard Group Inc. now owns 15,968,358 shares of the company’s stock valued at $661,409,000 after acquiring an additional 2,300,288 shares during the last quarter. T. Rowe Price Investment Management Inc. grew its stake in Maplebear by 15.5% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 4,744,652 shares of the company’s stock worth $196,524,000 after acquiring an additional 635,930 shares in the last quarter. Victory Capital Management Inc. grew its stake in Maplebear by 11,501.2% in the 4th quarter. Victory Capital Management Inc. now owns 4,526,673 shares of the company’s stock worth $187,495,000 after acquiring an additional 4,487,654 shares in the last quarter. Jacobs Levy Equity Management Inc. grew its stake in Maplebear by 85.0% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 3,081,847 shares of the company’s stock worth $127,650,000 after acquiring an additional 1,416,426 shares in the last quarter. Finally, Boston Partners bought a new position in Maplebear in the 4th quarter worth about $111,506,000. Hedge funds and other institutional investors own 63.09% of the company’s stock.
Analyst Upgrades and Downgrades
A number of equities analysts have commented on CART shares. Benchmark restated a “hold” rating on shares of Maplebear in a research note on Wednesday, February 26th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $55.00 price target on shares of Maplebear in a research report on Wednesday, February 26th. Macquarie reaffirmed an “outperform” rating and issued a $55.00 price target on shares of Maplebear in a research report on Tuesday, May 6th. Jefferies Financial Group upped their price target on shares of Maplebear from $48.00 to $50.00 and gave the stock a “hold” rating in a research report on Tuesday, May 27th. Finally, Oppenheimer lowered 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. Thirteen research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $51.91.
Insider Buying and Selling at Maplebear
In other news, Director Levien Meredith A. Kopit sold 4,225 shares of the stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $47.45, for a total value of $200,476.25. Following the sale, the director now owns 20,829 shares in the company, valued at $988,336.05. This represents a 16.86% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Fidji Simo sold 2,033 shares of the stock in a transaction on Monday, March 17th. The stock was sold at an average price of $40.00, for a total transaction of $81,320.00. Following the completion of the sale, the chief executive officer now owns 1,654,559 shares in the company, valued at $66,182,360. The trade was a 0.12% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 19,640 shares of company stock worth $843,579. 26.00% of the stock is owned by corporate insiders.
Maplebear Trading Down 1.6%
Shares of Maplebear stock opened at $43.37 on Friday. Maplebear Inc. has a 12-month low of $29.84 and a 12-month high of $53.44. The firm has a market capitalization of $11.39 billion, a price-to-earnings ratio of 29.11, a PEG ratio of 1.19 and a beta of 1.30. The firm’s 50 day simple moving average is $43.76 and its two-hundred day simple moving average is $43.74.
Maplebear (NASDAQ:CART – Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The company reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.01). Maplebear had a net margin of 13.37% and a return on equity of 13.78%. The company had revenue of $897.00 million for the quarter, compared to analyst estimates of $896.86 million. During the same quarter in the previous year, the company posted $0.43 EPS. The company’s revenue for the quarter was up 9.4% compared to the same quarter last year. On average, sell-side analysts predict that Maplebear Inc. will post 1.43 EPS for the current fiscal 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.
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