30,631 Shares in Maplebear Inc. $CART Bought by M&T Bank Corp

Key Points

• M&T Bank Corp opened a new position in Maplebear (CART) in Q4, buying 30,631 shares valued at about $1.38 million, while other institutions like Thrivent, JPMorgan and Nordea also increased stakes, leaving institutional ownership at roughly 63.09%.
• Analysts are broadly positive on CART with an average rating of "Moderate Buy" and an average target price of $51.29, following recent upgrades and target raises from firms including Needham, Cantor Fitzgerald and Raymond James.
• Company insiders have been net sellers recently: insiders sold 144,863 shares worth about $5.42 million over the last 90 days (including a 126,083-share sale by General Counsel Morgan Fong), and insiders now own about 24% of the stock.

M&T Bank Corp acquired a new position in shares of Maplebear Inc. (NASDAQ:CART - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 30,631 shares of the company's stock, valued at approximately $1,378,000.

Several other large investors have also recently added to or reduced their stakes in the company. Nordea Investment Management AB lifted its stake in Maplebear by 128.4% in the third quarter. Nordea Investment Management AB now owns 119,828 shares of the company's stock valued at $4,254,000 after buying an additional 67,374 shares during the last quarter. Thrivent Financial for Lutherans lifted its stake in Maplebear by 3,054.0% in the third quarter. Thrivent Financial for Lutherans now owns 1,407,993 shares of the company's stock valued at $51,758,000 after buying an additional 1,363,352 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Maplebear by 27.8% in the third quarter. JPMorgan Chase & Co. now owns 1,328,968 shares of the company's stock valued at $48,853,000 after buying an additional 288,839 shares during the last quarter. Deltec Asset Management LLC bought a new stake in Maplebear in the third quarter valued at $1,838,000. Finally, Kingdon Capital Management L.L.C. lifted its stake in Maplebear by 40.6% in the third quarter. Kingdon Capital Management L.L.C. now owns 450,000 shares of the company's stock valued at $16,542,000 after buying an additional 130,000 shares during the last quarter. 63.09% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on CART shares. Needham & Company LLC raised their target price on Maplebear from $50.00 to $55.00 and gave the company a "buy" rating in a research note on Friday, February 13th. Raymond James Financial upgraded Maplebear from a "hold" rating to a "moderate buy" rating in a research note on Thursday, April 9th. Wall Street Zen upgraded Maplebear from a "hold" rating to a "buy" rating in a research note on Saturday, February 14th. Cantor Fitzgerald raised their target price on Maplebear from $45.00 to $54.00 and gave the company an "overweight" rating in a research note on Thursday, January 8th. Finally, Wells Fargo & Company raised their target price on Maplebear from $43.00 to $45.00 and gave the company an "equal weight" rating in a research note on Monday, March 30th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $51.29.

Insider Transactions at Maplebear

In related news, General Counsel Morgan Fong sold 126,083 shares of Maplebear stock in a transaction dated Wednesday, March 11th. The stock was sold at an average price of $37.09, for a total transaction of $4,676,418.47. Following the transaction, the general counsel directly owned 386,643 shares of the company's stock, valued at $14,340,588.87. The trade was a 24.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Lisa Blackwood-Kapral sold 9,390 shares of Maplebear stock in a transaction dated Wednesday, April 15th. The stock was sold at an average price of $40.25, for a total value of $377,947.50. Following the transaction, the chief accounting officer directly owned 58,971 shares in the company, valued at approximately $2,373,582.75. The trade was a 13.74% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 144,863 shares of company stock worth $5,418,135. 24.00% of the stock is owned by corporate insiders.

Maplebear Stock Performance

Shares of CART opened at $42.32 on Thursday. The stock's fifty day moving average is $38.86 and its 200-day moving average is $39.83. The firm has a market capitalization of $10.02 billion, a price-to-earnings ratio of 26.62, a price-to-earnings-growth ratio of 0.66 and a beta of 0.88. Maplebear Inc. has a one year low of $32.73 and a one year high of $53.50.

About Maplebear

Maplebear, Inc, doing business as Instacart, operates a leading online grocery and essentials marketplace that connects consumers, retail partners and personal shoppers through its digital platform. The company enables customers to order groceries, household items and specialty products for same-day or scheduled delivery, as well as in-store pickup. By integrating its technology with retailers' existing inventory and point-of-sale systems, Maplebear streamlines the shopping experience and provides real-time availability and pricing.

Founded in 2012 and headquartered in San Francisco, Maplebear has grown from a regional startup to a publicly traded company listed on NASDAQ under the ticker CART.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.