Rhumbline Advisers Buys 26,352 Shares of Maplebear Inc. $CART

Rhumbline Advisers increased its stake in shares of Maplebear Inc. (NASDAQ:CART) by 6.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 460,698 shares of the company’s stock after acquiring an additional 26,352 shares during the quarter. Rhumbline Advisers owned approximately 0.17% of Maplebear worth $16,935,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of CART. Securian Asset Management Inc. grew its holdings in shares of Maplebear by 2.1% in the second quarter. Securian Asset Management Inc. now owns 12,509 shares of the company’s stock worth $566,000 after purchasing an additional 252 shares during the last quarter. Smartleaf Asset Management LLC boosted its position in Maplebear by 9.6% during the 2nd quarter. Smartleaf Asset Management LLC now owns 2,978 shares of the company’s stock valued at $134,000 after buying an additional 261 shares during the period. Rafferty Asset Management LLC grew its holdings in Maplebear by 2.5% in the 2nd quarter. Rafferty Asset Management LLC now owns 11,000 shares of the company’s stock worth $498,000 after acquiring an additional 273 shares during the last quarter. Hantz Financial Services Inc. grew its holdings in Maplebear by 78.6% in the 3rd quarter. Hantz Financial Services Inc. now owns 884 shares of the company’s stock worth $32,000 after acquiring an additional 389 shares during the last quarter. Finally, ProShare Advisors LLC increased its position in shares of Maplebear by 5.7% in the second quarter. ProShare Advisors LLC now owns 7,284 shares of the company’s stock valued at $330,000 after acquiring an additional 390 shares during the period. 63.09% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, General Counsel Morgan Fong sold 4,914 shares of the stock in a transaction dated Monday, December 22nd. The shares were sold at an average price of $45.21, for a total value of $222,161.94. Following the completion of the transaction, the general counsel directly owned 404,940 shares in the company, valued at $18,307,337.40. This trade represents a 1.20% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 26.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on CART. BNP Paribas Exane began coverage on shares of Maplebear in a report on Wednesday, January 14th. They set an “underperform” rating and a $41.00 target price for the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Maplebear in a report on Monday, December 29th. JPMorgan Chase & Co. cut their price objective on Maplebear from $65.00 to $55.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 11th. Cantor Fitzgerald boosted their target price on Maplebear from $45.00 to $54.00 and gave the company an “overweight” rating in a research note on Thursday, January 8th. Finally, Stifel Nicolaus dropped their price target on Maplebear from $49.00 to $46.00 and set a “buy” rating for the company in a research note on Tuesday, January 27th. Fifteen analysts have rated the stock with a Buy rating, eleven have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $51.38.

Maplebear Stock Performance

Shares of NASDAQ:CART opened at $36.72 on Wednesday. The firm has a market capitalization of $9.64 billion, a P/E ratio of 23.09, a P/E/G ratio of 0.94 and a beta of 1.00. The stock has a 50 day moving average price of $40.83 and a 200-day moving average price of $41.62. Maplebear Inc. has a 52-week low of $32.73 and a 52-week high of $53.50.

Maplebear Company 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.