Calamos Advisors LLC Purchases Shares of 10,119 Maplebear Inc. (NASDAQ:CART)

Calamos Advisors LLC acquired a new stake in shares of Maplebear Inc. (NASDAQ:CART - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 10,119 shares of the company's stock, valued at approximately $404,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in shares of Maplebear by 16.8% in the fourth quarter. Vanguard Group Inc. now owns 15,968,358 shares of the company's stock worth $661,409,000 after purchasing an additional 2,300,288 shares during the last quarter. T. Rowe Price Investment Management Inc. grew its holdings in Maplebear by 15.5% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 4,744,652 shares of the company's stock worth $196,524,000 after acquiring an additional 635,930 shares during the period. Jacobs Levy Equity Management Inc. grew its holdings in Maplebear by 85.0% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 3,081,847 shares of the company's stock worth $127,650,000 after acquiring an additional 1,416,426 shares during the period. Boston Partners acquired a new stake in shares of Maplebear in the fourth quarter worth approximately $111,506,000. Finally, Two Sigma Advisers LP boosted its stake in shares of Maplebear by 59.6% in the fourth quarter. Two Sigma Advisers LP now owns 2,645,500 shares of the company's stock worth $109,577,000 after acquiring an additional 987,700 shares during the last quarter. 63.09% of the stock is currently owned by hedge funds and other institutional investors.

Maplebear Price Performance

NASDAQ:CART traded down $0.14 on Tuesday, hitting $48.71. 4,840,117 shares of the company's stock were exchanged, compared to its average volume of 3,943,094. The firm has a 50-day moving average price of $45.02 and a 200-day moving average price of $43.97. Maplebear Inc. has a 52 week low of $29.84 and a 52 week high of $53.44. The company has a market cap of $12.79 billion, a P/E ratio of 32.05, a price-to-earnings-growth ratio of 1.99 and a beta of 1.21.

Maplebear (NASDAQ:CART - Get Free Report) last announced 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 return on equity of 14.12% and a net margin of 12.45%. The business had revenue of $897.00 million for the quarter, compared to analyst estimates of $896.86 million. During the same quarter in the previous year, the company earned $0.43 EPS. The business's revenue for the quarter was up 9.4% on a year-over-year basis. On average, research analysts expect that Maplebear Inc. will post 1.43 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on CART shares. Macquarie reaffirmed an "outperform" rating and issued a $55.00 price objective on shares of Maplebear in a research note on Tuesday, May 6th. JPMorgan Chase & Co. lowered their price objective on Maplebear from $50.00 to $44.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. Jefferies Financial Group boosted their target price on Maplebear from $48.00 to $50.00 and gave the company a "hold" rating in a report on Tuesday, May 27th. Barclays upped their price objective on Maplebear from $58.00 to $61.00 and gave the company an "overweight" rating in a research note on Friday, May 2nd. Finally, Wall Street Zen cut Maplebear from a "buy" rating to a "hold" rating in a report on Friday, May 30th. Thirteen analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $51.91.

Insider Transactions at Maplebear

In other Maplebear news, Director Levien Meredith A. Kopit sold 4,225 shares of Maplebear stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $47.45, for a total value of $200,476.25. Following the sale, the director owned 20,829 shares of the company's stock, valued at approximately $988,336.05. The trade was a 16.86% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, General Counsel Morgan Fong sold 4,680 shares of Maplebear stock in a transaction dated Friday, June 20th. The stock was sold at an average price of $43.90, for a total transaction of $205,452.00. Following the completion of the transaction, the general counsel owned 456,680 shares of the company's stock, valued at $20,048,252. The trade was a 1.01% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 22,287 shares of company stock worth $967,711 over the last three months. 26.00% of the stock is owned by company 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.