Maplebear Inc. $CART Shares Acquired by US Bancorp DE

Key Points

• US Bancorp DE raised its stake in Maplebear (CART) by 17% in Q4 to 437,658 shares—about 0.17% of the company—worth roughly $19.7 million, and institutional investors collectively own 63.09% of the stock.
• Analysts' consensus is a "Moderate Buy" with an average target of $51.29, though recent research notes vary (Benchmark and Stifel trimmed targets while Jefferies upgraded to Buy and BNP Paribas initiated at Underperform).
• Insiders have been net sellers recently: General Counsel Morgan Fong sold 126,083 shares and insiders sold 144,863 shares in the last quarter, though insiders still hold 24% of outstanding shares.

US Bancorp DE increased its position in shares of Maplebear Inc. (NASDAQ:CART - Free Report) by 17.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 437,658 shares of the company's stock after buying an additional 63,666 shares during the period. US Bancorp DE owned about 0.17% of Maplebear worth $19,686,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Nordea Investment Management AB grew its position in Maplebear by 128.4% in the 3rd quarter. Nordea Investment Management AB now owns 119,828 shares of the company's stock valued at $4,254,000 after acquiring an additional 67,374 shares during the last quarter. Thrivent Financial for Lutherans raised its stake in shares of Maplebear by 3,054.0% during the third quarter. Thrivent Financial for Lutherans now owns 1,407,993 shares of the company's stock valued at $51,758,000 after acquiring an additional 1,363,352 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Maplebear by 27.8% in the third quarter. JPMorgan Chase & Co. now owns 1,328,968 shares of the company's stock valued at $48,853,000 after purchasing an additional 288,839 shares during the period. Deltec Asset Management LLC bought a new position in Maplebear in the third quarter worth approximately $1,838,000. Finally, Kingdon Capital Management L.L.C. grew its stake in Maplebear by 40.6% in the third quarter. Kingdon Capital Management L.L.C. now owns 450,000 shares of the company's stock worth $16,542,000 after purchasing an additional 130,000 shares in the last quarter. Institutional investors and hedge funds own 63.09% of the company's stock.

Analysts Set New Price Targets

CART has been the topic of several research reports. Benchmark cut 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. Stifel Nicolaus lowered their price target on shares of Maplebear from $49.00 to $46.00 and set a "buy" rating for the company in a research report on Tuesday, January 27th. Wells Fargo & Company boosted their price objective on shares of Maplebear from $43.00 to $45.00 and gave the stock an "equal weight" rating in a research note on Monday, March 30th. BNP Paribas Exane started coverage on Maplebear in a report on Wednesday, January 14th. They issued an "underperform" rating and a $41.00 price target on the stock. Finally, Jefferies Financial Group raised Maplebear from a "hold" rating to a "buy" rating and boosted their price target for the stock from $38.00 to $45.00 in a research report on Monday, March 30th. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $51.29.

Maplebear Stock Performance

Shares of CART stock opened at $42.19 on Friday. Maplebear Inc. has a fifty-two week low of $32.73 and a fifty-two week high of $53.50. The firm has a market capitalization of $9.99 billion, a price-to-earnings ratio of 26.53, a PEG ratio of 0.65 and a beta of 0.88. The stock's 50-day simple moving average is $38.99 and its 200-day simple moving average is $39.85.

Insider Buying and Selling at Maplebear

In other news, General Counsel Morgan Fong sold 126,083 shares of the firm's stock in a transaction dated 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 completion of the transaction, the general counsel directly owned 386,643 shares in the company, valued at $14,340,588.87. This trade represents a 24.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Lisa Blackwood-Kapral sold 9,390 shares of Maplebear stock in a transaction dated Wednesday, April 15th. The stock was sold at an average price of $40.25, for a total value of $377,947.50. Following the sale, the chief accounting officer directly owned 58,971 shares of the company's stock, valued at $2,373,582.75. This trade represents a 13.74% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 144,863 shares of company stock valued at $5,418,135 over the last quarter. Insiders own 24.00% of the company's stock.

About Maplebear

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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