Maplebear Inc. (NASDAQ:CART) Shares Purchased by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Maplebear Inc. (NASDAQ:CART) by 47.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 44,558 shares of the company’s stock after acquiring an additional 14,300 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Maplebear were worth $1,846,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of CART. Victory Capital Management Inc. boosted its position in shares of Maplebear by 11,501.2% during the 4th quarter. Victory Capital Management Inc. now owns 4,526,673 shares of the company’s stock valued at $187,495,000 after acquiring an additional 4,487,654 shares during the last quarter. Pacer Advisors Inc. acquired a new position in shares of Maplebear during the 3rd quarter valued at about $158,701,000. Geode Capital Management LLC boosted its position in shares of Maplebear by 151.7% during the 3rd quarter. Geode Capital Management LLC now owns 2,732,738 shares of the company’s stock valued at $111,361,000 after acquiring an additional 1,647,081 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Maplebear by 5,191.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,489,655 shares of the company’s stock valued at $60,689,000 after acquiring an additional 1,461,501 shares during the last quarter. Finally, Southpoint Capital Advisors LP boosted its position in shares of Maplebear by 56.3% during the 3rd quarter. Southpoint Capital Advisors LP now owns 2,500,000 shares of the company’s stock valued at $101,850,000 after acquiring an additional 900,000 shares during the last quarter. Institutional investors and hedge funds own 63.09% of the company’s stock.

Maplebear Stock Performance

CART stock opened at $40.64 on Tuesday. The company’s 50 day moving average price is $45.48 and its 200 day moving average price is $43.21. Maplebear Inc. has a fifty-two week low of $29.84 and a fifty-two week high of $53.44. The firm has a market capitalization of $10.76 billion, a price-to-earnings ratio of 27.28, a PEG ratio of 1.19 and a beta of 1.34.

Maplebear (NASDAQ:CART) last released its earnings results on Tuesday, February 25th. The company reported $0.53 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.16. The firm had revenue of $883.00 million for the quarter, compared to analyst estimates of $889.98 million. Maplebear had a net margin of 13.37% and a return on equity of 13.78%. Equities analysts forecast that Maplebear Inc. will post 1.43 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently weighed in on CART shares. Wells Fargo & Company started coverage on shares of Maplebear in a research report on Friday, January 10th. They set an “equal weight” rating and a $47.00 price target on the stock. Bank of America boosted their price objective on shares of Maplebear from $51.00 to $53.00 and gave the company a “neutral” rating in a report on Tuesday, February 25th. Oppenheimer reduced their price objective on shares of Maplebear from $65.00 to $60.00 and set an “outperform” rating on the stock in a report on Wednesday, February 26th. Wedbush reduced their price objective on shares of Maplebear from $48.00 to $46.00 and set a “neutral” rating on the stock in a report on Wednesday, February 26th. Finally, Seaport Res Ptn upgraded shares of Maplebear to a “strong-buy” rating in a report on Wednesday, February 12th. Thirteen analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Maplebear currently has an average rating of “Moderate Buy” and a consensus price target of $50.52.

Insider Activity at Maplebear

In related news, CEO Fidji Simo sold 20,750 shares of the company’s stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $42.74, for a total value of $886,855.00. Following the completion of the transaction, the chief executive officer now directly owns 1,771,993 shares of the company’s stock, valued at $75,734,980.82. This represents a 1.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Alan Ramsay sold 2,314 shares of the company’s stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $46.28, for a total value of $107,091.92. Following the completion of the transaction, the chief accounting officer now directly owns 85,421 shares of the company’s stock, valued at $3,953,283.88. This trade represents a 2.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 46,061 shares of company stock valued at $1,987,318 over the last three months. 36.00% of the stock is owned by corporate insiders.

Maplebear 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.