Man Group plc Takes Position in Maplebear Inc. (NASDAQ:CART)

Man Group plc bought a new position in shares of Maplebear Inc. (NASDAQ:CART - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 362,697 shares of the company's stock, valued at approximately $15,023,000. Man Group plc owned 0.14% of Maplebear as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Janney Montgomery Scott LLC grew its stake in Maplebear by 212.1% in the fourth quarter. Janney Montgomery Scott LLC now owns 23,938 shares of the company's stock worth $992,000 after purchasing an additional 16,267 shares in the last quarter. Cherry Creek Investment Advisors Inc. purchased a new stake in shares of Maplebear in the 4th quarter worth $235,000. US Bancorp DE grew its position in shares of Maplebear by 22.3% during the 4th quarter. US Bancorp DE now owns 13,077 shares of the company's stock worth $542,000 after buying an additional 2,387 shares in the last quarter. Commonwealth Equity Services LLC bought a new position in shares of Maplebear during the 4th quarter worth $234,000. Finally, PNC Financial Services Group Inc. increased its stake in shares of Maplebear by 243.3% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,399 shares of the company's stock valued at $141,000 after buying an additional 2,409 shares during the period. Institutional investors own 63.09% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on CART. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $55.00 price objective on shares of Maplebear in a research note on Wednesday, February 26th. Wells Fargo & Company lowered their price target on shares of Maplebear from $47.00 to $44.00 and set an "equal weight" rating for the company in a research report on Thursday, April 3rd. Citigroup increased their price objective on shares of Maplebear from $55.00 to $57.00 and gave the company a "buy" rating in a research note on Tuesday, May 13th. FBN Securities began coverage on shares of Maplebear in a report on Friday, March 28th. They set a "sector perform" rating and a $44.00 price objective on the stock. Finally, BMO Capital Markets upped their target price on Maplebear from $48.00 to $49.00 and gave the stock a "market perform" rating in a report on Wednesday, February 26th. Twelve research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $51.30.

Insiders Place Their Bets

In other news, General Counsel Morgan Fong sold 5,249 shares of the company's stock in a transaction 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 directly owns 484,292 shares of the company's stock, valued at $20,616,310.44. This represents a 1.07% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Fidji Simo sold 2,033 shares of the stock in a transaction on Monday, March 17th. The stock was sold at an average price of $40.00, for a total transaction of $81,320.00. Following the completion of the sale, the chief executive officer now owns 1,654,559 shares in the company, valued at $66,182,360. The trade was a 0.12% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 36,165 shares of company stock valued at $1,541,785. 26.00% of the stock is owned by company insiders.

Maplebear Price Performance

NASDAQ:CART traded up $0.25 during trading hours on Friday, hitting $47.28. 983,405 shares of the company were exchanged, compared to its average volume of 4,035,013. Maplebear Inc. has a 52-week low of $29.84 and a 52-week high of $53.44. The stock has a market capitalization of $12.41 billion, a price-to-earnings ratio of 31.74, a PEG ratio of 1.19 and a beta of 1.19. The company's 50 day moving average price is $41.79 and its 200-day moving average price is $43.60.

Maplebear (NASDAQ:CART - Get Free Report) last posted 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). Maplebear had a return on equity of 13.78% and a net margin of 13.37%. The company 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 firm posted $0.43 earnings per share. The company's quarterly revenue was up 9.4% on a year-over-year basis. On average, equities analysts predict that Maplebear Inc. will post 1.43 earnings per share for the current year.

Maplebear 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.