Balyasny Asset Management L.P. Grows Position in Maplebear Inc. (NASDAQ:CART)

Balyasny Asset Management L.P. grew its position in shares of Maplebear Inc. (NASDAQ:CART - Free Report) by 42.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,603,438 shares of the company's stock after purchasing an additional 781,259 shares during the period. Balyasny Asset Management L.P. owned approximately 1.01% of Maplebear worth $107,834,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Jones Financial Companies Lllp grew its holdings in Maplebear by 46.6% during the 4th quarter. Jones Financial Companies Lllp now owns 698 shares of the company's stock valued at $29,000 after buying an additional 222 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new position in shares of Maplebear in the third quarter valued at $33,000. Allworth Financial LP increased its position in Maplebear by 101.4% in the fourth quarter. Allworth Financial LP now owns 834 shares of the company's stock worth $37,000 after purchasing an additional 420 shares during the last quarter. NewEdge Advisors LLC increased its position in Maplebear by 277.9% in the fourth quarter. NewEdge Advisors LLC now owns 975 shares of the company's stock worth $40,000 after purchasing an additional 717 shares during the last quarter. Finally, Anderson Financial Strategies LLC purchased a new stake in Maplebear during the fourth quarter valued at $46,000. 63.09% of the stock is owned by institutional investors.

Insider Buying and Selling at Maplebear

In other Maplebear news, General Counsel Morgan Fong sold 5,249 shares of Maplebear stock in a transaction on Monday, April 21st. The shares were sold at an average price of $42.57, for a total value of $223,449.93. Following the transaction, the general counsel now directly owns 484,292 shares of the company's stock, valued at approximately $20,616,310.44. The trade was a 1.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Fidji Simo sold 20,750 shares of the stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $43.31, for a total value of $898,682.50. Following the sale, the chief executive officer now owns 1,662,692 shares of the company's stock, valued at approximately $72,011,190.52. This represents a 1.23 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 36,165 shares of company stock valued at $1,541,785. 26.00% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on CART. JPMorgan Chase & Co. reduced their target price on shares of Maplebear from $50.00 to $44.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. BTIG Research raised Maplebear from a "neutral" rating to a "buy" rating and set a $58.00 price objective on the stock in a research note on Tuesday, January 14th. Morgan Stanley raised their price objective on Maplebear from $44.00 to $45.00 and gave the company an "equal weight" rating in a research note on Wednesday, February 26th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $55.00 target price on shares of Maplebear in a report on Wednesday, February 26th. Finally, Mizuho decreased their price target on Maplebear from $55.00 to $52.00 and set an "outperform" rating on the stock in a report on Wednesday, February 26th. Twelve analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Maplebear currently has an average rating of "Moderate Buy" and a consensus target price of $50.61.

Maplebear Stock Up 0.1 %

NASDAQ:CART traded up $0.05 during mid-day trading on Wednesday, reaching $45.66. The company's stock had a trading volume of 2,377,948 shares, compared to its average volume of 4,126,785. Maplebear Inc. has a 1 year low of $29.84 and a 1 year high of $53.44. The stock has a fifty day moving average of $40.28 and a 200-day moving average of $43.52. The firm has a market capitalization of $11.99 billion, a PE ratio of 30.65, a price-to-earnings-growth ratio of 1.19 and a beta of 1.19.

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

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.