GAMMA Investing LLC Boosts Stake in Maplebear Inc. (NASDAQ:CART)

GAMMA Investing LLC boosted its position in shares of Maplebear Inc. (NASDAQ:CART - Free Report) by 7,363.3% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 53,213 shares of the company's stock after purchasing an additional 52,500 shares during the quarter. GAMMA Investing LLC's holdings in Maplebear were worth $2,123,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Jones Financial Companies Lllp boosted its stake in shares of Maplebear by 46.6% during the fourth quarter. Jones Financial Companies Lllp now owns 698 shares of the company's stock valued at $29,000 after purchasing an additional 222 shares in the last quarter. Allworth Financial LP lifted its holdings in Maplebear by 101.4% during the fourth quarter. Allworth Financial LP now owns 834 shares of the company's stock worth $37,000 after buying an additional 420 shares during the period. NewEdge Advisors LLC boosted its position in Maplebear by 277.9% during the 4th quarter. NewEdge Advisors LLC now owns 975 shares of the company's stock valued at $40,000 after acquiring an additional 717 shares in the last quarter. Anderson Financial Strategies LLC purchased a new position in shares of Maplebear in the 4th quarter valued at $46,000. Finally, Cullen Frost Bankers Inc. purchased a new position in shares of Maplebear in the 4th quarter valued at $62,000. 63.09% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Maplebear news, Director Levien Meredith A. Kopit sold 4,225 shares of the company's stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $47.45, for a total value of $200,476.25. Following the sale, the director now owns 20,829 shares in the company, valued at approximately $988,336.05. This represents a 16.86% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Fidji Simo sold 8,133 shares of the firm'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 sale, the chief executive officer now directly owns 1,646,426 shares in the company, valued at $68,491,321.60. The trade was a 0.49% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 17,607 shares of company stock valued at $762,259 over the last 90 days. Insiders own 26.00% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on CART shares. BMO Capital Markets raised their price objective on Maplebear from $48.00 to $49.00 and gave the company a "market perform" rating in a research report on Wednesday, February 26th. Benchmark reissued a "hold" rating on shares of Maplebear in a research report on Wednesday, February 26th. Mizuho lowered their price target on shares of Maplebear from $55.00 to $52.00 and set an "outperform" rating on the stock in a report on Wednesday, February 26th. FBN Securities initiated coverage on shares of Maplebear in a research note on Friday, March 28th. They set a "sector perform" rating and a $44.00 price objective for the company. Finally, Jefferies Financial Group increased their target price on shares of Maplebear from $48.00 to $50.00 and gave the company a "hold" rating in a research report on Tuesday, May 27th. Thirteen equities research 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 has an average rating of "Moderate Buy" and an average target price of $51.91.

Maplebear Stock Performance

NASDAQ CART traded down $0.32 during trading hours on Tuesday, reaching $43.55. The stock had a trading volume of 3,725,835 shares, compared to its average volume of 4,028,940. Maplebear Inc. has a 52-week low of $29.84 and a 52-week high of $53.44. The stock has a fifty day moving average of $43.98 and a 200 day moving average of $43.74. The stock has a market cap of $11.43 billion, a P/E ratio of 28.65, a price-to-earnings-growth ratio of 1.85 and a beta of 1.30.

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