Canada Pension Plan Investment Board purchased a new position in Maplebear Inc. (NASDAQ:CART - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 55,100 shares of the company's stock, valued at approximately $2,609,000.
A number of other large investors also recently added to or reduced their stakes in the stock. Allworth Financial LP grew its position in shares of Maplebear by 35.7% in the third quarter. Allworth Financial LP now owns 928 shares of the company's stock valued at $34,000 after purchasing an additional 244 shares during the period. Smartleaf Asset Management LLC grew its holdings in shares of Maplebear by 9.6% in the second quarter. Smartleaf Asset Management LLC now owns 2,978 shares of the company's stock valued at $134,000 after purchasing an additional 261 shares during the period. Rafferty Asset Management LLC increased its holdings in shares of Maplebear by 2.5% during the 2nd quarter. Rafferty Asset Management LLC now owns 11,000 shares of the company's stock worth $498,000 after buying an additional 273 shares during the last quarter. Crossmark Global Holdings Inc. increased its stake in Maplebear by 5.0% during the third quarter. Crossmark Global Holdings Inc. now owns 6,423 shares of the company's stock worth $236,000 after acquiring an additional 304 shares during the last quarter. Finally, Aviva PLC increased its position in shares of Maplebear by 3.9% during the 4th quarter. Aviva PLC now owns 11,279 shares of the company's stock worth $507,000 after purchasing an additional 424 shares during the last quarter. 63.09% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling
In other Maplebear news, insider Morgan Fong sold 18,390 shares of the stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $49.96, for a total transaction of $918,764.40. Following the sale, the insider directly owned 529,911 shares in the company, valued at $26,474,353.56. This represents a 3.35% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ravi Gupta sold 150,000 shares of the firm's stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $50.61, for a total transaction of $7,591,500.00. Following the completion of the transaction, the director directly owned 591,523 shares of the company's stock, valued at $29,936,979.03. This represents a 20.23% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 349,390 shares of company stock worth $16,023,574. 24.00% of the stock is owned by company insiders.
Wall Street Analysts Forecast Growth
Several research analysts have weighed in on the stock. Barclays increased their target price on shares of Maplebear from $69.00 to $77.00 and gave the stock an "overweight" rating in a research note on Friday, August 7th. Weiss Ratings restated a "hold (c)" rating on shares of Maplebear in a report on Friday, August 7th. Citigroup increased their price objective on shares of Maplebear from $50.00 to $58.00 and gave the stock a "buy" rating in a research report on Monday, August 10th. JPMorgan Chase & Co. upped their price target on Maplebear from $55.00 to $62.00 and gave the stock an "overweight" rating in a research note on Friday, August 7th. Finally, Wells Fargo & Company raised their price target on Maplebear from $47.00 to $54.00 and gave the stock an "equal weight" rating in a research report on Friday, August 7th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and eight have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Maplebear presently has an average rating of "Moderate Buy" and a consensus target price of $55.90.
Read Our Latest Report on Maplebear
Maplebear Price Performance
Shares of NASDAQ:CART opened at $50.54 on Monday. The firm has a market capitalization of $11.70 billion, a PE ratio of 27.62, a price-to-earnings-growth ratio of 0.74 and a beta of 0.78. The firm's 50-day moving average is $47.35 and its two-hundred day moving average is $42.24. Maplebear Inc. has a 1 year low of $32.73 and a 1 year high of $52.05.
Maplebear (NASDAQ:CART - Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The company reported $0.45 EPS for the quarter, missing the consensus estimate of $0.54 by ($0.09). The business had revenue of $1.04 billion during the quarter, compared to analysts' expectations of $1.03 billion. Maplebear had a net margin of 11.97% and a return on equity of 20.19%. The company's revenue for the quarter was up 14.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.41 EPS. Analysts expect that Maplebear Inc. will post 2.33 EPS for the current fiscal year.
Maplebear Profile
(
Free Report)
Maplebear, Inc, doing business as Instacart, operates a leading online grocery and essentials marketplace that connects consumers, retail partners and personal shoppers through its digital platform. The company enables customers to order groceries, household items and specialty products for same-day or scheduled delivery, as well as in-store pickup. By integrating its technology with retailers' existing inventory and point-of-sale systems, Maplebear streamlines the shopping experience and provides real-time availability and pricing.
Founded in 2012 and headquartered in San Francisco, Maplebear has grown from a regional startup to a publicly traded company listed on NASDAQ under the ticker CART.
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