Canada Pension Plan Investment Board Takes $7.21 Million Position in Maplebear Inc. (NASDAQ:CART)

Canada Pension Plan Investment Board acquired a new position in Maplebear Inc. (NASDAQ:CART) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 224,400 shares of the company’s stock, valued at approximately $7,212,000. Canada Pension Plan Investment Board owned approximately 0.08% of Maplebear as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Federated Hermes Inc. grew its stake in Maplebear by 102.2% in the second quarter. Federated Hermes Inc. now owns 1,734,264 shares of the company’s stock valued at $55,739,000 after purchasing an additional 876,439 shares during the last quarter. SG Americas Securities LLC acquired a new stake in Maplebear during the 1st quarter worth about $31,109,000. Lord Abbett & CO. LLC purchased a new stake in Maplebear during the 1st quarter valued at about $28,674,000. Renaissance Technologies LLC acquired a new position in shares of Maplebear in the second quarter valued at about $22,816,000. Finally, Delta Global Management LP purchased a new position in shares of Maplebear in the first quarter worth about $25,722,000. Institutional investors own 63.09% of the company’s stock.

Insider Transactions at Maplebear

In other news, CAO Alan Ramsay sold 2,486 shares of the firm’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $41.39, for a total value of $102,895.54. Following the transaction, the chief accounting officer now directly owns 99,225 shares of the company’s stock, valued at $4,106,922.75. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CAO Alan Ramsay sold 2,486 shares of the stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $41.39, for a total value of $102,895.54. Following the completion of the sale, the chief accounting officer now owns 99,225 shares of the company’s stock, valued at $4,106,922.75. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, General Counsel Morgan Fong sold 9,506 shares of Maplebear stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $35.02, for a total value of $332,900.12. Following the transaction, the general counsel now owns 372,335 shares in the company, valued at approximately $13,039,171.70. The disclosure for this sale can be found here. Insiders sold 67,655 shares of company stock valued at $2,504,824 over the last 90 days. 36.00% of the stock is currently owned by corporate insiders.

Maplebear Trading Down 0.3 %

CART stock opened at $40.08 on Wednesday. Maplebear Inc. has a 12-month low of $22.13 and a 12-month high of $42.58. The business’s 50-day moving average is $34.86 and its 200 day moving average is $34.76.

Maplebear (NASDAQ:CART) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $0.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.07. Maplebear had a negative return on equity of 49.98% and a negative net margin of 52.21%. The firm had revenue of $823.00 million for the quarter, compared to analyst estimates of $806.35 million. The firm’s quarterly revenue was up 14.9% compared to the same quarter last year. Research analysts expect that Maplebear Inc. will post 1.12 earnings per share for the current year.

Wall Street Analyst Weigh In

CART has been the topic of a number of recent research reports. Morgan Stanley dropped their target price on Maplebear from $45.00 to $41.00 and set an “equal weight” rating on the stock in a research report on Tuesday. Raymond James assumed coverage on shares of Maplebear in a research note on Tuesday. They issued a “market perform” rating on the stock. Needham & Company LLC reissued a “hold” rating on shares of Maplebear in a report on Wednesday, August 7th. Bank of America upped their price target on shares of Maplebear from $41.00 to $45.00 and gave the company a “neutral” rating in a report on Tuesday. Finally, Citigroup boosted their price objective on Maplebear from $44.00 to $47.00 and gave the company a “buy” rating in a report on Thursday, August 8th. Eleven equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $43.33.

About Maplebear

Maplebear Inc, doing business as Instacart, provides online grocery shopping services to households in North America. It sells and delivers grocery products. The company offers its services through a mobile application and website. It also provides software-as-a-service solutions to retailers. The company was incorporated in 2012 and is based in San Francisco, California.