Algert Global LLC Acquires 57,239 Shares of Maplebear Inc. (NASDAQ:CART)

Algert Global LLC raised its stake in Maplebear Inc. (NASDAQ:CART - Free Report) by 610.3% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 66,618 shares of the company's stock after purchasing an additional 57,239 shares during the quarter. Algert Global LLC's holdings in Maplebear were worth $2,759,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Jones Financial Companies Lllp grew its stake in shares of Maplebear by 46.6% in the fourth quarter. Jones Financial Companies Lllp now owns 698 shares of the company's stock worth $29,000 after purchasing an additional 222 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in shares of Maplebear in the 3rd quarter worth about $33,000. Allworth Financial LP increased its stake 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 purchasing an additional 420 shares in the last quarter. NewEdge Advisors LLC raised its stake in Maplebear by 277.9% during the fourth quarter. NewEdge Advisors LLC now owns 975 shares of the company's stock valued at $40,000 after buying an additional 717 shares during the last quarter. Finally, Anderson Financial Strategies LLC bought a new position in Maplebear in the 4th quarter worth about $46,000. 63.09% of the stock is currently owned by institutional investors.

Insider Activity at Maplebear

In other Maplebear news, CEO Fidji Simo sold 8,133 shares of the business's stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $41.60, for a total value of $338,332.80. Following the completion of the sale, the chief executive officer now directly owns 1,646,426 shares of the company's stock, valued at $68,491,321.60. The trade was a 0.49 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Morgan Fong sold 5,249 shares of the company's stock in a transaction dated 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 transaction, the general counsel now owns 484,292 shares in the company, valued at $20,616,310.44. This represents a 1.07 % decrease in their ownership of the stock. 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 quarter. 26.00% of the stock is owned by company insiders.

Analyst Ratings Changes

CART has been the topic of several recent analyst reports. Seaport Res Ptn upgraded Maplebear to a "strong-buy" rating in a research note on Wednesday, February 12th. Benchmark reissued a "hold" rating on shares of Maplebear in a report on Wednesday, February 26th. JPMorgan Chase & Co. cut their target price on shares of Maplebear from $50.00 to $44.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. Wedbush decreased their target price on Maplebear from $48.00 to $46.00 and set a "neutral" rating on the stock in a report on Wednesday, February 26th. Finally, FBN Securities assumed coverage on Maplebear in a research report on Friday, March 28th. They issued a "sector perform" rating and a $44.00 price target for the company. Twelve research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Maplebear currently has an average rating of "Moderate Buy" and a consensus price target of $50.61.

Maplebear Stock Performance

NASDAQ CART traded up $0.82 on Friday, hitting $43.76. 3,536,344 shares of the stock were exchanged, compared to its average volume of 4,100,391. Maplebear Inc. has a 52-week low of $29.84 and a 52-week high of $53.44. The firm has a market capitalization of $11.49 billion, a P/E ratio of 29.37, a P/E/G ratio of 1.19 and a beta of 1.19. The stock has a fifty day moving average price of $40.56 and a two-hundred day moving average price of $43.53.

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