Assenagon Asset Management S.A. Has $5.75 Million Holdings in Maplebear Inc. (NASDAQ:CART)

Assenagon Asset Management S.A. increased its position in shares of Maplebear Inc. (NASDAQ:CART - Free Report) by 6.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 144,030 shares of the company's stock after acquiring an additional 8,599 shares during the period. Assenagon Asset Management S.A. owned about 0.05% of Maplebear worth $5,745,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of CART. Jones Financial Companies Lllp grew its position in Maplebear by 46.6% in the fourth quarter. Jones Financial Companies Lllp now owns 698 shares of the company's stock worth $29,000 after acquiring an additional 222 shares in the last quarter. Allworth Financial LP grew its position in Maplebear by 101.4% in the fourth quarter. Allworth Financial LP now owns 834 shares of the company's stock worth $37,000 after acquiring an additional 420 shares in the last quarter. NewEdge Advisors LLC grew its position in Maplebear by 277.9% in 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. UMB Bank n.a. raised its holdings in Maplebear by 914.1% during the first quarter. UMB Bank n.a. now owns 1,004 shares of the company's stock valued at $40,000 after buying an additional 905 shares in the last quarter. Finally, Anderson Financial Strategies LLC bought a new position in Maplebear during the fourth quarter valued at about $46,000. 63.09% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Maplebear

In other Maplebear news, CEO Fidji Simo sold 2,033 shares of the business's stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $40.00, for a total transaction of $81,320.00. Following the transaction, the chief executive officer now owns 1,654,559 shares of the company's stock, valued at $66,182,360. The trade was a 0.12% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Morgan Fong sold 5,249 shares of the business'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 transaction, the general counsel now directly owns 484,292 shares in the company, valued at approximately $20,616,310.44. This trade represents a 1.07% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 19,640 shares of company stock worth $843,579 in the last 90 days. Corporate insiders own 26.00% of the company's stock.

Analysts Set New Price Targets

CART has been the topic of several recent research reports. Macquarie restated an "outperform" rating and set a $55.00 target price on shares of Maplebear in a report on Tuesday, May 6th. Stifel Nicolaus cut their target price on Maplebear from $57.00 to $54.00 and set a "buy" rating on the stock in a report on Wednesday, April 23rd. Citigroup raised their target price on Maplebear from $55.00 to $57.00 and gave the company a "buy" rating in a report on Tuesday, May 13th. Barclays raised their target price on Maplebear from $58.00 to $61.00 and gave the company an "overweight" rating in a report on Friday, May 2nd. Finally, Wells Fargo & Company cut their target price on Maplebear from $47.00 to $44.00 and set an "equal weight" rating on the stock in a report on Thursday, April 3rd. Thirteen analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Maplebear currently has a consensus rating of "Moderate Buy" and a consensus target price of $51.91.

Maplebear Stock Performance

NASDAQ CART traded down $0.71 on Friday, reaching $43.37. The company had a trading volume of 3,407,036 shares, compared to its average volume of 4,023,535. The firm has a market capitalization of $11.39 billion, a price-to-earnings ratio of 29.11, a price-to-earnings-growth ratio of 1.19 and a beta of 1.30. Maplebear Inc. has a 1-year low of $29.84 and a 1-year high of $53.44. The company's fifty day moving average is $43.76 and its 200-day moving average is $43.74.

Maplebear (NASDAQ:CART - Get Free Report) last announced 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 return on equity of 13.78% and a net margin of 13.37%. Maplebear's revenue for the quarter was up 9.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.43 earnings per share. On average, research analysts forecast that Maplebear Inc. will post 1.43 earnings per share for the current year.

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.