Maplebear Inc. $CART Shares Purchased by Nordea Investment Management AB

Nordea Investment Management AB boosted its stake in Maplebear Inc. (NASDAQ:CART) by 14.9% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 137,656 shares of the company’s stock after buying an additional 17,828 shares during the quarter. Nordea Investment Management AB owned approximately 0.05% of Maplebear worth $6,226,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Hantz Financial Services Inc. raised its holdings in shares of Maplebear by 78.6% in the third 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. Allworth Financial LP lifted its position in shares of Maplebear by 35.7% in the third quarter. Allworth Financial LP now owns 928 shares of the company’s stock valued at $34,000 after acquiring an additional 244 shares in the last quarter. Abich Financial Wealth Management LLC acquired a new stake in shares of Maplebear during the third quarter valued at $43,000. Sunbelt Securities Inc. increased its position in Maplebear by 212.7% during the 3rd quarter. Sunbelt Securities Inc. now owns 1,157 shares of the company’s stock worth $43,000 after purchasing an additional 787 shares in the last quarter. Finally, Elevation Point Wealth Partners LLC purchased a new stake in Maplebear during the 2nd quarter worth about $53,000. Institutional investors and hedge funds own 63.09% of the company’s stock.

Insider Activity at Maplebear

In related news, CAO Lisa Blackwood-Kapral sold 9,390 shares of the company’s stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $38.74, for a total transaction of $363,768.60. Following the completion of the transaction, the chief accounting officer owned 47,510 shares of the company’s stock, valued at approximately $1,840,537.40. This represents a 16.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, General Counsel Morgan Fong sold 126,083 shares of the stock in a transaction that occurred on Wednesday, March 11th. The stock was sold at an average price of $37.09, for a total transaction of $4,676,418.47. Following the transaction, the general counsel directly owned 386,643 shares in the company, valued at approximately $14,340,588.87. This represents a 24.59% decrease in their position. The SEC filing for this sale provides additional information. 26.00% of the stock is currently owned by company insiders.

Analyst Ratings Changes

CART has been the topic of a number of recent research reports. Cantor Fitzgerald upped their target price on shares of Maplebear from $45.00 to $54.00 and gave the company an “overweight” rating in a report on Thursday, January 8th. Fox Advisors downgraded shares of Maplebear from a “strong-buy” rating to a “hold” rating in a report on Thursday, December 18th. Argus raised shares of Maplebear to a “strong-buy” rating in a research report on Thursday, March 5th. BNP Paribas Exane began coverage on shares of Maplebear in a research note on Wednesday, January 14th. They set an “underperform” rating and a $41.00 price objective on the stock. Finally, Needham & Company LLC raised their target price on shares of Maplebear from $50.00 to $55.00 and gave the stock a “buy” rating in a research report on Friday, February 13th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, eleven have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $51.04.

Maplebear Price Performance

CART opened at $36.29 on Friday. The stock has a market capitalization of $8.73 billion, a price-to-earnings ratio of 22.82, a price-to-earnings-growth ratio of 0.56 and a beta of 0.98. The business has a 50-day moving average of $37.09 and a two-hundred day moving average of $40.07. Maplebear Inc. has a 12 month low of $32.73 and a 12 month high of $53.50.

About Maplebear

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.