BI Asset Management Fondsmaeglerselskab A S Makes New Investment in Maplebear Inc. (NASDAQ:CART)

BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of Maplebear Inc. (NASDAQ:CART - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 52,420 shares of the company's stock, valued at approximately $2,171,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. First Trust Advisors LP grew its stake in Maplebear by 110.9% in the 4th quarter. First Trust Advisors LP now owns 303,914 shares of the company's stock worth $12,588,000 after buying an additional 159,829 shares in the last quarter. Canada Pension Plan Investment Board grew its stake in Maplebear by 82.6% in the 4th quarter. Canada Pension Plan Investment Board now owns 243,800 shares of the company's stock worth $10,098,000 after buying an additional 110,300 shares in the last quarter. Zacks Investment Management grew its stake in Maplebear by 8.2% in the 4th quarter. Zacks Investment Management now owns 128,863 shares of the company's stock worth $5,338,000 after buying an additional 9,748 shares in the last quarter. Marshall Wace LLP grew its stake in Maplebear by 199.2% in the 4th quarter. Marshall Wace LLP now owns 1,758,380 shares of the company's stock worth $72,832,000 after buying an additional 1,170,634 shares in the last quarter. Finally, NewEdge Advisors LLC grew its stake in Maplebear by 277.9% in the 4th quarter. NewEdge Advisors LLC now owns 975 shares of the company's stock worth $40,000 after buying an additional 717 shares in the last quarter. Institutional investors own 63.09% of the company's stock.

Insider Transactions at Maplebear

In other news, General Counsel Morgan Fong sold 5,249 shares of the business's 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 transaction, the general counsel now 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 position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, 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 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 $66,182,360. This trade represents a 0.12 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 36,165 shares of company stock valued at $1,541,785 in the last ninety days. Corporate insiders own 26.00% of the company's stock.

Maplebear Stock Up 0.6 %

Shares of Maplebear stock traded up $0.25 during trading hours on Friday, reaching $41.91. 2,619,129 shares of the stock traded hands, compared to its average volume of 4,060,172. The company has a 50 day moving average price of $41.13 and a 200 day moving average price of $43.54. The firm has a market capitalization of $11.00 billion, a price-to-earnings ratio of 28.13, a P/E/G ratio of 1.19 and a beta of 1.20. Maplebear Inc. has a one year low of $29.84 and a one year high of $53.44.

Maplebear (NASDAQ:CART - Get Free Report) last released its quarterly earnings results on Tuesday, February 25th. The company reported $0.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.16. Maplebear had a return on equity of 13.78% and a net margin of 13.37%. The business had revenue of $883.00 million during the quarter, compared to analyst estimates of $889.98 million. Sell-side analysts anticipate that Maplebear Inc. will post 1.43 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have commented on CART shares. Bank of America boosted their price target on shares of Maplebear from $51.00 to $53.00 and gave the stock a "neutral" rating in a research note on Tuesday, February 25th. Mizuho dropped their price target on shares of Maplebear from $55.00 to $52.00 and set an "outperform" rating for the company in a research report on Wednesday, February 26th. Oppenheimer dropped their target price on shares of Maplebear from $65.00 to $60.00 and set an "outperform" rating for the company in a report on Wednesday, February 26th. BTIG Research upgraded Maplebear from a "neutral" rating to a "buy" rating and set a $58.00 price target on the stock in a report on Tuesday, January 14th. Finally, BMO Capital Markets boosted their price target on Maplebear from $48.00 to $49.00 and gave the company a "market perform" rating in a report on Wednesday, February 26th. Twelve research 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 stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $50.48.

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.