Temasek Holdings Private Ltd Buys Shares of 5,804 Maplebear Inc. (NASDAQ:CART)

Temasek Holdings Private Ltd acquired a new position in shares of Maplebear Inc. (NASDAQ:CART - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 5,804 shares of the company's stock, valued at approximately $240,000.

Several other hedge funds have also made changes to their positions in the business. SG Americas Securities LLC acquired a new stake in shares of Maplebear during the fourth quarter valued at about $1,401,000. Janney Montgomery Scott LLC increased its position in shares of Maplebear by 212.1% during the fourth quarter. Janney Montgomery Scott LLC now owns 23,938 shares of the company's stock worth $992,000 after acquiring an additional 16,267 shares during the last quarter. Arkfeld Wealth Strategies L.L.C. increased its position in shares of Maplebear by 70.1% during the fourth quarter. Arkfeld Wealth Strategies L.L.C. now owns 18,628 shares of the company's stock worth $829,000 after acquiring an additional 7,680 shares during the last quarter. KBC Group NV boosted its stake in shares of Maplebear by 56.5% during the 4th quarter. KBC Group NV now owns 3,808 shares of the company's stock valued at $158,000 after buying an additional 1,374 shares during the last quarter. Finally, Cherry Creek Investment Advisors Inc. purchased a new position in shares of Maplebear during the 4th quarter valued at approximately $235,000. Institutional investors and hedge funds own 63.09% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Bank of America increased their target price on Maplebear from $51.00 to $53.00 and gave the company a "neutral" rating in a research note on Tuesday, February 25th. Loop Capital raised their target price on Maplebear from $52.00 to $58.00 and gave the company a "buy" rating in a research note on Monday. Oppenheimer cut their target price on Maplebear from $65.00 to $60.00 and set an "outperform" rating on the stock in a research note on Wednesday, February 26th. Macquarie reiterated an "outperform" rating and issued a $55.00 target price on shares of Maplebear in a research note on Tuesday, May 6th. Finally, Wedbush cut their target price on Maplebear from $48.00 to $46.00 and set a "neutral" rating on the stock in a research note on Wednesday, February 26th. 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 stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $51.30.

Insider Buying and Selling

In other Maplebear news, General Counsel Morgan Fong sold 5,249 shares of the company'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 value of $223,449.93. Following the sale, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Fidji Simo sold 20,750 shares of the stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $43.31, for a total value of $898,682.50. Following the transaction, the chief executive officer now owns 1,662,692 shares in the company, valued at approximately $72,011,190.52. This trade represents a 1.23% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 36,165 shares of company stock worth $1,541,785. Corporate insiders own 26.00% of the company's stock.

Maplebear Stock Down 0.4%

CART traded down $0.20 during trading on Wednesday, hitting $46.91. The company's stock had a trading volume of 3,153,529 shares, compared to its average volume of 4,051,122. The stock has a market capitalization of $12.31 billion, a price-to-earnings ratio of 31.48, a price-to-earnings-growth ratio of 1.19 and a beta of 1.19. Maplebear Inc. has a 12 month low of $29.84 and a 12 month high of $53.44. The firm's 50 day moving average price is $41.50 and its two-hundred day moving average price is $43.56.

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 the consensus estimate of $0.38 by ($0.01). The firm had revenue of $897.00 million for the quarter, compared to analyst estimates of $896.86 million. Maplebear had a return on equity of 13.78% and a net margin of 13.37%. The firm's quarterly revenue was up 9.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.43 earnings per share. On average, sell-side analysts forecast that Maplebear Inc. will post 1.43 earnings per share for the current year.

Maplebear Company 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.