Horizon Investments LLC Buys 115,965 Shares of Maplebear Inc. $CART

Key Points

• Horizon Investments LLC purchased an additional 115,965 shares in Q4—lifting its stake to 116,009 shares (a reported 263,556.8% increase) worth about $5.22 million at quarter-end.
• Company insiders have been net sellers recently, disposing of 144,863 shares (~$5.42 million) over the past 90 days, including sizable sales by the CAO and general counsel; insiders now own about 24% of the stock.
• Analysts hold a consensus rating of Moderate Buy with an average target of $51.29, while Maplebear (CART) trades around $42.19 and has a market cap near $9.99 billion.

Horizon Investments LLC lifted its stake in shares of Maplebear Inc. (NASDAQ:CART - Free Report) by 263,556.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 116,009 shares of the company's stock after purchasing an additional 115,965 shares during the period. Horizon Investments LLC's holdings in Maplebear were worth $5,218,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Hantz Financial Services Inc. raised its stake in shares of Maplebear by 78.6% during the 3rd quarter. Hantz Financial Services Inc. now owns 884 shares of the company's stock worth $32,000 after purchasing an additional 389 shares in the last quarter. Allworth Financial LP raised its stake in Maplebear by 35.7% in the 3rd quarter. Allworth Financial LP now owns 928 shares of the company's stock valued at $34,000 after acquiring an additional 244 shares during the period. Sunbelt Securities Inc. raised its stake in Maplebear by 212.7% in the 3rd quarter. Sunbelt Securities Inc. now owns 1,157 shares of the company's stock valued at $43,000 after acquiring an additional 787 shares during the period. Abich Financial Wealth Management LLC bought a new stake in Maplebear in the 3rd quarter valued at $43,000. Finally, CWM LLC raised its stake in Maplebear by 42.2% in the 3rd quarter. CWM LLC now owns 1,634 shares of the company's stock valued at $60,000 after acquiring an additional 485 shares during the period. Institutional investors own 63.09% of the company's stock.

Maplebear Stock Performance

CART opened at $42.19 on Monday. The firm has a market cap of $9.99 billion, a P/E ratio of 26.53, a price-to-earnings-growth ratio of 0.65 and a beta of 0.96. Maplebear Inc. has a 52-week low of $32.73 and a 52-week high of $53.50. The business's fifty day moving average is $38.99 and its 200-day moving average is $39.86.

Insider Buying and Selling at Maplebear

In related news, CAO Lisa Blackwood-Kapral sold 9,390 shares of the company's stock in a transaction on Wednesday, April 15th. The stock was sold at an average price of $40.25, for a total transaction of $377,947.50. Following the completion of the sale, the chief accounting officer directly owned 58,971 shares in the company, valued at $2,373,582.75. This represents a 13.74% decrease in their position. The sale 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, General Counsel Morgan Fong sold 126,083 shares of the company's stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of $37.09, for a total value of $4,676,418.47. Following the sale, the general counsel owned 386,643 shares of the company's stock, valued at approximately $14,340,588.87. This represents a 24.59% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 144,863 shares of company stock valued at $5,418,135. 24.00% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on CART. Raymond James Financial upgraded Maplebear from a "hold" rating to a "moderate buy" rating in a research note on Thursday, April 9th. BNP Paribas Exane began coverage on Maplebear in a research note on Wednesday, January 14th. They issued an "underperform" rating and a $41.00 price target on the stock. Argus upgraded Maplebear to a "strong-buy" rating in a research note on Thursday, March 5th. Cantor Fitzgerald increased their price target on Maplebear from $45.00 to $54.00 and gave the company an "overweight" rating in a research note on Thursday, January 8th. Finally, Benchmark dropped their price target on Maplebear from $60.00 to $53.00 and set a "buy" rating on the stock in a research note on Tuesday, February 10th. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $51.29.

Maplebear Profile

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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