Lazard Asset Management LLC Makes New $263,000 Investment in Maplebear Inc. (NASDAQ:CART)

Lazard Asset Management LLC acquired a new position in shares of Maplebear Inc. (NASDAQ:CART - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 6,397 shares of the company's stock, valued at approximately $263,000.

A number of other hedge funds have also recently added to or reduced their stakes in CART. Jones Financial Companies Lllp lifted its position 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 purchasing an additional 222 shares during the period. Allworth Financial LP lifted its position in Maplebear by 101.4% during 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 period. NewEdge Advisors LLC lifted its position in Maplebear by 277.9% during the 4th quarter. NewEdge Advisors LLC now owns 975 shares of the company's stock valued at $40,000 after purchasing an additional 717 shares during the period. Anderson Financial Strategies LLC acquired a new position in Maplebear during the 4th quarter valued at about $46,000. Finally, Cullen Frost Bankers Inc. acquired a new position in Maplebear during the 4th quarter valued at about $62,000. Institutional investors own 63.09% of the company's stock.

Insider Transactions at Maplebear

In related news, CEO Fidji Simo sold 2,033 shares of the firm'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 of the company's stock, valued at approximately $66,182,360. This trade represents a 0.12% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Morgan Fong sold 5,249 shares of the firm's 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 completion of the transaction, the general counsel now directly owns 484,292 shares of the company's stock, valued at $20,616,310.44. This represents a 1.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 15,415 shares of company stock valued at $643,103 in the last ninety days. 26.00% of the stock is currently owned by corporate insiders.

Maplebear Price Performance

Shares of CART traded down $0.73 during mid-day trading on Thursday, hitting $46.29. 632,598 shares of the company's stock were exchanged, compared to its average volume of 4,043,199. The company has a market cap of $12.15 billion, a PE ratio of 31.07, a P/E/G ratio of 1.19 and a beta of 1.19. Maplebear Inc. has a 52 week low of $29.84 and a 52 week high of $53.44. The company has a 50-day simple moving average of $42.40 and a 200 day simple moving average of $43.59.

Maplebear (NASDAQ:CART - Get Free Report) last issued its quarterly earnings results 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 business had revenue of $897.00 million for the quarter, compared to the consensus estimate of $896.86 million. Maplebear had a return on equity of 13.78% and a net margin of 13.37%. Maplebear's revenue was up 9.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.43 earnings per share. On average, analysts anticipate that Maplebear Inc. will post 1.43 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on CART shares. Needham & Company LLC restated a "buy" rating and set a $56.00 target price on shares of Maplebear in a research report on Friday, May 2nd. Mizuho cut their price target on shares of Maplebear from $55.00 to $52.00 and set an "outperform" rating on the stock in a research report on Wednesday, February 26th. Citigroup increased their price target on shares of Maplebear from $55.00 to $57.00 and gave the company a "buy" rating in a research report on Tuesday, May 13th. Jefferies Financial Group increased their price target on shares of Maplebear from $48.00 to $50.00 and gave the company a "hold" rating in a research report on Tuesday. Finally, Oppenheimer cut their price target on shares of Maplebear from $65.00 to $60.00 and set an "outperform" rating on the stock in a research report on Wednesday, February 26th. Twelve analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $51.61.

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.