Maplebear Inc. (NASDAQ:CART) Position Increased by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. raised its position in Maplebear Inc. (NASDAQ:CART - Free Report) by 6.3% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 144,030 shares of the company's stock after purchasing an additional 8,599 shares during the period. Assenagon Asset Management S.A. owned about 0.05% of Maplebear worth $5,745,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the company. Victory Capital Management Inc. increased its position in Maplebear by 11,501.2% during the fourth quarter. Victory Capital Management Inc. now owns 4,526,673 shares of the company's stock worth $187,495,000 after purchasing an additional 4,487,654 shares during the last quarter. Boston Partners acquired a new stake in Maplebear during the fourth quarter worth about $111,506,000. Altimeter Capital Management LP purchased a new position in shares of Maplebear in the 4th quarter worth about $105,108,000. Vanguard Group Inc. lifted its stake in shares of Maplebear by 16.8% in the 4th quarter. Vanguard Group Inc. now owns 15,968,358 shares of the company's stock valued at $661,409,000 after purchasing an additional 2,300,288 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Maplebear during the 4th quarter worth about $95,162,000. Institutional investors and hedge funds own 63.09% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on CART shares. Barclays raised their price target on shares of Maplebear from $58.00 to $61.00 and gave the company an "overweight" rating in a report on Friday, May 2nd. Cantor Fitzgerald restated an "overweight" rating and set a $55.00 target price on shares of Maplebear in a report on Wednesday, February 26th. Stifel Nicolaus lowered their price target on Maplebear from $57.00 to $54.00 and set a "buy" rating for the company in a report on Wednesday, April 23rd. FBN Securities began coverage on Maplebear in a research note on Friday, March 28th. They set a "sector perform" rating and a $44.00 price objective on the stock. Finally, Wall Street Zen downgraded Maplebear from a "buy" rating to a "hold" rating in a report on Friday, May 30th. Thirteen investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $51.91.

Insiders Place Their Bets

In other news, CEO Fidji Simo sold 8,133 shares of the company's stock in a transaction that occurred on Monday, April 14th. The shares were sold at an average price of $41.60, for a total value of $338,332.80. Following the completion of the sale, the chief executive officer now directly owns 1,646,426 shares of the company's stock, valued at approximately $68,491,321.60. This represents a 0.49% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Levien Meredith A. Kopit sold 4,225 shares of the stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $47.45, for a total transaction of $200,476.25. Following the completion of the transaction, the director now owns 20,829 shares of the company's stock, valued at $988,336.05. This trade represents a 16.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 17,607 shares of company stock worth $762,259. 26.00% of the stock is owned by company insiders.

Maplebear Stock Down 0.3%

CART stock traded down $0.13 during midday trading on Wednesday, reaching $43.42. The company had a trading volume of 1,864,148 shares, compared to its average volume of 4,343,182. The stock has a 50 day moving average price of $43.98 and a 200 day moving average price of $43.74. The firm has a market capitalization of $11.40 billion, a PE ratio of 28.57, a P/E/G ratio of 1.85 and a beta of 1.30. Maplebear Inc. has a fifty-two week low of $29.84 and a fifty-two week high of $53.44.

Maplebear (NASDAQ:CART - Get Free Report) last posted its earnings results on Thursday, May 1st. The company reported $0.37 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.38 by ($0.01). Maplebear had a net margin of 12.45% and a return on equity of 14.12%. The firm had revenue of $897.00 million for the quarter, compared to analyst estimates of $896.86 million. During the same period in the previous year, the firm earned $0.43 earnings per share. The company's revenue for the quarter was up 9.4% on a year-over-year basis. Research analysts predict that Maplebear Inc. will post 1.43 EPS 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.