Vanguard Group Inc. Acquires 2,300,288 Shares of Maplebear Inc. (NASDAQ:CART)

Vanguard Group Inc. grew its holdings in Maplebear Inc. (NASDAQ:CART) by 16.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 15,968,358 shares of the company’s stock after acquiring an additional 2,300,288 shares during the quarter. Vanguard Group Inc. owned 0.06% of Maplebear worth $661,409,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Jones Financial Companies Lllp boosted its holdings in Maplebear by 46.6% in the 4th quarter. Jones Financial Companies Lllp now owns 698 shares of the company’s stock valued at $29,000 after purchasing an additional 222 shares during the period. Allworth Financial LP raised its position in shares of Maplebear by 101.4% during the fourth quarter. Allworth Financial LP now owns 834 shares of the company’s stock valued at $37,000 after buying an additional 420 shares during the last quarter. CIBC Asset Management Inc raised its position in shares of Maplebear by 5.4% during the fourth quarter. CIBC Asset Management Inc now owns 8,554 shares of the company’s stock valued at $354,000 after buying an additional 440 shares during the last quarter. Coldstream Capital Management Inc. lifted its stake in shares of Maplebear by 1.6% in the third quarter. Coldstream Capital Management Inc. now owns 31,745 shares of the company’s stock valued at $1,294,000 after buying an additional 490 shares during the period. Finally, Pier Capital LLC grew its position in Maplebear by 0.4% during the third quarter. Pier Capital LLC now owns 151,604 shares of the company’s stock worth $6,176,000 after buying an additional 616 shares in the last quarter. Institutional investors and hedge funds own 63.09% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on CART. FBN Securities assumed coverage on Maplebear in a research report on Friday. They issued a “sector perform” rating and a $44.00 price objective for the company. Seaport Res Ptn raised Maplebear to a “strong-buy” rating in a research report on Wednesday, February 12th. Oppenheimer lowered their price target 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. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Maplebear in a research note on Tuesday, December 3rd. They issued a “hold” rating and a $37.00 price objective for the company. Finally, Mizuho decreased their target price on shares of Maplebear from $55.00 to $52.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 26th. Fourteen research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Maplebear currently has an average rating of “Moderate Buy” and an average target price of $50.25.

Insiders Place Their Bets

In other Maplebear news, CEO Fidji Simo sold 2,033 shares of the company’s stock in a transaction on Monday, March 17th. The shares were 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 approximately $66,182,360. The trade was a 0.12 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Alan Ramsay sold 2,314 shares of the stock in a transaction 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 in the company, valued at approximately $3,953,283.88. This trade represents a 2.64 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 25,097 shares of company stock valued at $1,087,094. 36.00% of the stock is currently owned by insiders.

Maplebear Price Performance

Shares of Maplebear stock opened at $39.73 on Monday. The firm has a 50 day simple moving average of $44.59 and a 200 day simple moving average of $43.54. 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 cap of $10.51 billion, a P/E ratio of 26.66, a P/E/G 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 company had revenue of $883.00 million during the quarter, compared to the consensus estimate of $889.98 million. Maplebear had a return on equity of 13.78% and a net margin of 13.37%. On average, sell-side analysts expect that Maplebear Inc. will post 1.43 EPS for the current year.

About Maplebear

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.