Swedbank AB Invests $8.46 Million in Maplebear Inc. $CART

Swedbank AB acquired a new stake in Maplebear Inc. (NASDAQ:CART) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 230,200 shares of the company’s stock, valued at approximately $8,462,000. Swedbank AB owned 0.09% of Maplebear as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Elevation Point Wealth Partners LLC acquired a new stake in Maplebear in the 2nd quarter valued at about $53,000. Fifth Third Bancorp lifted its stake in Maplebear by 123.7% during the second quarter. Fifth Third Bancorp now owns 1,190 shares of the company’s stock valued at $54,000 after purchasing an additional 658 shares during the last quarter. SRH Advisors LLC acquired a new stake in Maplebear during the second quarter valued at approximately $61,000. Huntington National Bank boosted its holdings in Maplebear by 2,288.5% during the second quarter. Huntington National Bank now owns 1,457 shares of the company’s stock worth $66,000 after buying an additional 1,396 shares in the last quarter. Finally, NewEdge Advisors LLC grew its position in Maplebear by 71.6% in the first quarter. NewEdge Advisors LLC now owns 1,673 shares of the company’s stock worth $67,000 after buying an additional 698 shares during the last quarter. 63.09% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Maplebear news, General Counsel Morgan Fong sold 4,914 shares of the company’s stock in a transaction that occurred on Monday, December 22nd. The shares were sold at an average price of $45.21, for a total value of $222,161.94. Following the transaction, the general counsel owned 404,940 shares in the company, valued at approximately $18,307,337.40. This represents a 1.20% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Fidji Simo sold 1,014 shares of the stock in a transaction that occurred on Thursday, October 16th. The stock was sold at an average price of $40.00, for a total transaction of $40,560.00. Following the completion of the sale, the director owned 569,742 shares of the company’s stock, valued at approximately $22,789,680. The trade was a 0.18% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 12,525 shares of company stock valued at $521,304 over the last three months. 26.00% of the stock is owned by insiders.

Maplebear Stock Up 0.4%

Shares of Maplebear stock opened at $45.85 on Friday. Maplebear Inc. has a 12 month low of $34.78 and a 12 month high of $53.50. The stock has a market cap of $12.04 billion, a PE ratio of 25.19, a price-to-earnings-growth ratio of 1.49 and a beta of 1.01. The business has a fifty day simple moving average of $41.33 and a 200-day simple moving average of $43.53.

Maplebear (NASDAQ:CART) last announced its quarterly earnings data on Monday, November 10th. The company reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.01. Maplebear had a return on equity of 15.72% and a net margin of 14.09%.The firm had revenue of $939.00 million during the quarter, compared to the consensus estimate of $933.76 million. During the same period in the prior year, the business earned $0.42 EPS. The business’s revenue for the quarter was up 10.2% on a year-over-year basis. Analysts expect that Maplebear Inc. will post 1.43 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have issued reports on CART. Needham & Company LLC dropped their price target on Maplebear from $66.00 to $50.00 and set a “buy” rating on the stock in a report on Tuesday, November 11th. Benchmark decreased their target price on Maplebear from $67.00 to $60.00 and set a “buy” rating on the stock in a report on Tuesday, November 11th. JPMorgan Chase & Co. cut their target price on Maplebear from $65.00 to $55.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 11th. Robert W. Baird decreased their price target on Maplebear from $60.00 to $50.00 and set an “outperform” rating for the company in a research report on Wednesday, October 1st. Finally, Stifel Nicolaus dropped their price target on Maplebear from $56.00 to $49.00 and set a “buy” rating on the stock in a research note on Friday, October 24th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $52.21.

Maplebear Profile

Maplebear, Inc, doing business as Instacart, operates a leading online grocery and essentials marketplace that connects consumers, retail partners and personal shoppers through its digital platform. The company enables customers to order groceries, household items and specialty products for same-day or scheduled delivery, as well as in-store pickup. By integrating its technology with retailers’ existing inventory and point-of-sale systems, Maplebear streamlines the shopping experience and provides real-time availability and pricing.

Founded in 2012 and headquartered in San Francisco, Maplebear has grown from a regional startup to a publicly traded company listed on NASDAQ under the ticker CART.