BNP Paribas Financial Markets Invests $24.76 Million in Maplebear Inc. (NASDAQ:CART)

BNP Paribas Financial Markets bought a new position in Maplebear Inc. (NASDAQ:CART - Free Report) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 597,817 shares of the company's stock, valued at approximately $24,762,000. BNP Paribas Financial Markets owned 0.23% of Maplebear as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Jones Financial Companies Lllp lifted its holdings in shares of Maplebear by 46.6% during the 4th quarter. Jones Financial Companies Lllp now owns 698 shares of the company's stock worth $29,000 after acquiring an additional 222 shares during the period. Wilmington Savings Fund Society FSB acquired a new position in Maplebear in the 3rd quarter valued at approximately $33,000. Allworth Financial LP boosted its stake in shares of Maplebear by 101.4% in the 4th quarter. Allworth Financial LP now owns 834 shares of the company's stock valued at $37,000 after purchasing an additional 420 shares during the last quarter. NewEdge Advisors LLC boosted its stake in Maplebear by 277.9% during the fourth quarter. NewEdge Advisors LLC now owns 975 shares of the company's stock worth $40,000 after acquiring an additional 717 shares in the last quarter. Finally, Anderson Financial Strategies LLC bought a new position in Maplebear during the fourth quarter worth $46,000. 63.09% of the stock is currently owned by institutional investors and hedge funds.

Maplebear Price Performance

Maplebear stock traded up $0.70 during trading hours on Tuesday, hitting $44.31. The company had a trading volume of 3,456,693 shares, compared to its average volume of 4,101,895. Maplebear Inc. has a one year low of $29.84 and a one year high of $53.44. The firm has a 50-day moving average of $40.66 and a 200 day moving average of $43.52. The firm has a market cap of $11.63 billion, a PE ratio of 29.74, a PEG ratio of 1.19 and a beta of 1.19.

Maplebear (NASDAQ:CART - Get Free Report) last issued its earnings results 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). The company had revenue of $897.00 million during the quarter, compared to analyst estimates of $896.86 million. Maplebear had a net margin of 13.37% and a return on equity of 13.78%. The business's quarterly revenue was up 9.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.43 EPS. As a group, research analysts expect that Maplebear Inc. will post 1.43 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on CART. Loop Capital decreased their price objective on shares of Maplebear from $56.00 to $52.00 and set a "buy" rating for the company in a report on Thursday, March 6th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $55.00 target price on shares of Maplebear in a research note on Wednesday, February 26th. Barclays boosted their price objective on shares of Maplebear from $58.00 to $61.00 and gave the company an "overweight" rating in a research report on Friday, May 2nd. Wedbush dropped their price target on shares of Maplebear from $48.00 to $46.00 and set a "neutral" rating on the stock in a research note on Wednesday, February 26th. Finally, JMP Securities reiterated a "market outperform" rating and issued a $55.00 price target on shares of Maplebear in a research note on Friday, April 11th. Twelve research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Maplebear presently has an average rating of "Moderate Buy" and an average target price of $51.04.

Insider Transactions at Maplebear

In related news, 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 transaction of $898,682.50. Following the transaction, the chief executive officer now owns 1,662,692 shares of the company's stock, valued at approximately $72,011,190.52. This trade represents a 1.23% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Morgan Fong sold 5,249 shares of the stock in a transaction on Monday, April 21st. The shares were sold at an average price of $42.57, for a total transaction of $223,449.93. Following the sale, the general counsel now directly owns 484,292 shares of the company's stock, valued at $20,616,310.44. The trade was a 1.07% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 36,165 shares of company stock valued at $1,541,785 over the last three months. Corporate insiders own 26.00% of the company's stock.

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.