Freestone Grove Partners LP Buys Shares of 542,956 Maplebear Inc. (NASDAQ:CART)

Freestone Grove Partners LP acquired a new position in shares of Maplebear Inc. (NASDAQ:CART - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 542,956 shares of the company's stock, valued at approximately $22,489,000. Freestone Grove Partners LP owned approximately 0.21% of Maplebear as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CART. Voleon Capital Management LP purchased a new position in Maplebear in the fourth quarter worth approximately $5,466,000. Hershey Trust Co. purchased a new position in shares of Maplebear during the 4th quarter worth $441,000. AQR Capital Management LLC acquired a new stake in shares of Maplebear during the 4th quarter worth about $6,646,000. Candlestick Capital Management LP raised its holdings in Maplebear by 55.7% in the 4th quarter. Candlestick Capital Management LP now owns 977,672 shares of the company's stock valued at $40,495,000 after buying an additional 349,893 shares during the period. Finally, Northern Trust Corp lifted its position in Maplebear by 11.2% in the fourth quarter. Northern Trust Corp now owns 786,296 shares of the company's stock valued at $32,568,000 after buying an additional 78,931 shares during the last quarter. Institutional investors and hedge funds own 63.09% of the company's stock.

Insider Activity at Maplebear

In other Maplebear news, General Counsel Morgan Fong sold 5,249 shares of the stock in a transaction that occurred on Monday, April 21st. The stock was sold at an average price of $42.57, for a total transaction of $223,449.93. Following the completion of the sale, the general counsel now directly owns 484,292 shares of the company's stock, valued at approximately $20,616,310.44. This trade represents a 1.07 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Fidji Simo sold 2,033 shares of the business's stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $40.00, for a total value of $81,320.00. Following the completion of the transaction, the chief executive officer now directly 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 disclosure for this sale can be found here. Insiders sold a total of 36,165 shares of company stock worth $1,541,785 in the last 90 days. 26.00% of the stock is owned by insiders.

Maplebear Price Performance

Shares of CART traded up $5.42 during midday trading on Friday, reaching $45.22. 12,363,136 shares of the stock were exchanged, compared to its average volume of 4,122,179. Maplebear Inc. has a twelve month low of $29.84 and a twelve month high of $53.44. The company has a market capitalization of $11.87 billion, a price-to-earnings ratio of 30.35, a PEG ratio of 1.19 and a beta of 1.19. The business's 50-day moving average price is $40.10 and its 200 day moving average price is $43.47.

Maplebear (NASDAQ:CART - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The company reported $0.37 EPS for the quarter, missing the consensus estimate of $0.38 by ($0.01). The firm had revenue of $897.00 million for the quarter, compared to analyst estimates of $896.86 million. Maplebear had a return on equity of 13.78% and a net margin of 13.37%. The company's quarterly revenue was up 9.4% on a year-over-year basis. During the same period last year, the firm earned $0.43 EPS. As a group, equities research analysts expect that Maplebear Inc. will post 1.43 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on CART. Wells Fargo & Company reduced their price target on shares of Maplebear from $47.00 to $44.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 3rd. Stifel Nicolaus decreased their price target on Maplebear from $57.00 to $54.00 and set a "buy" rating on the stock in a research note on Wednesday, April 23rd. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $55.00 price objective on shares of Maplebear in a research note on Wednesday, February 26th. Barclays increased their target price on Maplebear from $58.00 to $61.00 and gave the stock an "overweight" rating in a research note on Friday. Finally, JPMorgan Chase & Co. dropped their target price on Maplebear from $50.00 to $44.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. Twelve investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $50.61.

Maplebear Company 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.