Cache Advisors LLC Makes New Investment in Maplebear Inc. (NASDAQ:CART)

Cache Advisors LLC acquired a new stake in Maplebear Inc. (NASDAQ:CART - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 7,342 shares of the company's stock, valued at approximately $304,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. WCG Wealth Advisors LLC lifted its stake in shares of Maplebear by 3.3% in the 4th quarter. WCG Wealth Advisors LLC now owns 14,256 shares of the company's stock valued at $590,000 after purchasing an additional 451 shares during the last quarter. Public Employees Retirement System of Ohio lifted its stake in shares of Maplebear by 69.2% in the 4th quarter. Public Employees Retirement System of Ohio now owns 111,116 shares of the company's stock valued at $4,602,000 after purchasing an additional 45,458 shares during the last quarter. PharVision Advisers LLC acquired a new stake in shares of Maplebear in the 4th quarter valued at $232,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Maplebear by 195.7% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 699,119 shares of the company's stock valued at $28,958,000 after purchasing an additional 462,684 shares during the last quarter. Finally, Worldquant Millennium Advisors LLC lifted its stake in shares of Maplebear by 85.4% in the 4th quarter. Worldquant Millennium Advisors LLC now owns 23,847 shares of the company's stock valued at $988,000 after purchasing an additional 10,987 shares during the last quarter. Institutional investors and hedge funds own 63.09% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Stifel Nicolaus cut their target price on shares of Maplebear from $57.00 to $54.00 and set a "buy" rating for the company in a research report on Wednesday, April 23rd. Barclays boosted their target price on shares of Maplebear from $58.00 to $61.00 and gave the stock an "overweight" rating in a research report on Friday, May 2nd. Loop Capital boosted their target price on shares of Maplebear from $52.00 to $58.00 and gave the stock a "buy" rating in a research report on Monday, May 19th. JMP Securities reissued a "market outperform" rating and set a $55.00 target price on shares of Maplebear in a research report on Friday, April 11th. Finally, Oppenheimer cut their target price on shares of Maplebear from $65.00 to $60.00 and set an "outperform" rating for the company in a research report on Wednesday, February 26th. Twelve research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $51.61.

Maplebear Trading Down 2.4%

Shares of CART traded down $1.12 during midday trading on Thursday, reaching $45.90. The stock had a trading volume of 959,581 shares, compared to its average volume of 4,044,656. The firm has a 50 day simple moving average of $42.40 and a 200-day simple moving average of $43.59. Maplebear Inc. has a one year low of $29.84 and a one year high of $53.44. The firm has a market cap of $12.05 billion, a PE ratio of 30.81, a P/E/G ratio of 1.19 and a beta of 1.19.

Maplebear (NASDAQ:CART - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The company reported $0.37 EPS for the quarter, missing analysts' consensus estimates of $0.38 by ($0.01). Maplebear had a net margin of 13.37% and a return on equity of 13.78%. The company had revenue of $897.00 million during the quarter, compared to analyst estimates of $896.86 million. During the same quarter last year, the company posted $0.43 EPS. The firm's quarterly revenue was up 9.4% on a year-over-year basis. As a group, research analysts forecast that Maplebear Inc. will post 1.43 EPS for the current fiscal year.

Insider Activity

In other news, CEO Fidji Simo sold 8,133 shares of the business's stock in a transaction that occurred on Monday, April 14th. The stock was sold at an average price of $41.60, for a total transaction of $338,332.80. Following the completion of the sale, the chief executive officer now owns 1,646,426 shares in the company, valued at $68,491,321.60. The trade was a 0.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, 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 shares were 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 of the company's stock, valued at approximately $20,616,310.44. This represents a 1.07% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 15,415 shares of company stock valued at $643,103. 26.00% of the stock is currently owned by corporate insiders.

About Maplebear

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.