Maplebear Inc. (NASDAQ:CART) Shares Purchased by Bailard Inc.

Bailard Inc. grew its holdings in shares of Maplebear Inc. (NASDAQ:CART - Free Report) by 170.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 67,204 shares of the company's stock after purchasing an additional 42,386 shares during the period. Bailard Inc.'s holdings in Maplebear were worth $2,681,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Proathlete Wealth Management LLC acquired a new stake in Maplebear in the first quarter worth about $26,000. Jones Financial Companies Lllp boosted its position in Maplebear by 46.6% during the 4th quarter. Jones Financial Companies Lllp now owns 698 shares of the company's stock worth $29,000 after acquiring an additional 222 shares during the period. NewEdge Advisors LLC increased its holdings in shares of Maplebear by 277.9% in 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. UMB Bank n.a. increased its holdings in shares of Maplebear by 914.1% in the 1st quarter. UMB Bank n.a. now owns 1,004 shares of the company's stock valued at $40,000 after purchasing an additional 905 shares during the period. Finally, Spire Wealth Management acquired a new position in shares of Maplebear in the 1st quarter valued at about $41,000. 63.09% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently commented on CART. Needham & Company LLC reissued a "buy" rating and set a $56.00 price objective on shares of Maplebear in a report on Friday, May 2nd. Wall Street Zen downgraded Maplebear from a "buy" rating to a "hold" rating in a research report on Friday, May 30th. Robert W. Baird increased their target price on Maplebear from $47.00 to $52.00 and gave the stock an "outperform" rating in a report on Thursday. Barclays increased their target price on Maplebear from $58.00 to $61.00 and gave the stock an "overweight" rating in a report on Friday, May 2nd. Finally, Citigroup increased their target price on Maplebear from $55.00 to $57.00 and gave the stock a "buy" rating in a report on Tuesday, May 13th. Eleven 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 MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $51.95.

Insider Activity at Maplebear

In other news, CEO Fidji Simo sold 14,233 shares of the stock in a transaction that occurred on Monday, July 14th. The shares were sold at an average price of $47.86, for a total value of $681,191.38. Following the completion of the sale, the chief executive officer owned 2,032,005 shares of the company's stock, valued at $97,251,759.30. This represents a 0.70% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Levien Meredith A. Kopit sold 4,225 shares of the stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $47.45, for a total transaction of $200,476.25. Following the sale, the director owned 20,829 shares in the company, valued at approximately $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 three months, insiders have sold 28,387 shares of company stock valued at $1,310,570. 26.00% of the stock is owned by corporate insiders.

Maplebear Price Performance

Shares of NASDAQ CART traded up $0.74 during midday trading on Friday, reaching $49.11. 3,356,560 shares of the stock traded hands, compared to its average volume of 3,958,422. The company's 50 day moving average is $45.82 and its 200 day moving average is $44.25. Maplebear Inc. has a one year low of $29.84 and a one year high of $53.44. The stock has a market capitalization of $12.89 billion, a PE ratio of 31.82, a P/E/G ratio of 2.03 and a beta of 1.21.

Maplebear (NASDAQ:CART - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The company reported $0.37 EPS for the quarter, missing the consensus estimate of $0.38 by ($0.01). Maplebear had a return on equity of 14.12% and a net margin of 12.45%. The company had revenue of $897.00 million during the quarter, compared to the consensus estimate of $896.86 million. During the same period in the previous year, the firm posted $0.43 earnings per share. The company's revenue was up 9.4% on a year-over-year basis. As a group, equities analysts forecast 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.