Maplebear Inc. $CART Shares Bought by First Trust Advisors LP

First Trust Advisors LP lifted its position in Maplebear Inc. (NASDAQ:CART - Free Report) by 20.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 611,302 shares of the company's stock after acquiring an additional 101,700 shares during the period. First Trust Advisors LP owned 0.26% of Maplebear worth $22,899,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Viking Global Investors LP acquired a new stake in Maplebear during the 2nd quarter valued at approximately $169,782,000. Marshall Wace LLP acquired a new position in Maplebear during the fourth quarter valued at $126,206,000. Norges Bank purchased a new stake in Maplebear in the fourth quarter valued at $97,221,000. Dimensional Fund Advisors LP boosted its holdings in Maplebear by 114.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,792,673 shares of the company's stock valued at $170,594,000 after purchasing an additional 2,026,567 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. grew its position in Maplebear by 401.4% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 2,281,452 shares of the company's stock worth $102,620,000 after purchasing an additional 1,826,402 shares during the period. 63.09% of the stock is owned by institutional investors and hedge funds.

Maplebear Stock Performance

CART stock opened at $45.64 on Thursday. The firm has a market cap of $10.73 billion, a PE ratio of 25.50, a P/E/G ratio of 0.62 and a beta of 0.75. The firm's fifty day moving average is $44.22 and its 200 day moving average is $40.64. Maplebear Inc. has a one year low of $32.73 and a one year high of $53.50.

Maplebear (NASDAQ:CART - Get Free Report) last released its quarterly earnings data on Wednesday, May 6th. The company reported $0.57 earnings per share for the quarter, missing analysts' consensus estimates of $0.58 by ($0.01). The firm had revenue of $1.02 billion during the quarter, compared to analysts' expectations of $1.01 billion. Maplebear had a net margin of 12.50% and a return on equity of 18.67%. The firm's quarterly revenue was up 13.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.37 EPS. Research analysts predict that Maplebear Inc. will post 2.46 earnings per share for the current fiscal year.

Insider Activity at Maplebear

In related news, Director Ravi Gupta sold 181,000 shares of Maplebear stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $41.51, for a total value of $7,513,310.00. Following the completion of the transaction, the director owned 741,523 shares in the company, valued at $30,780,619.73. The trade was a 19.62% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 24.00% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on CART. Wall Street Zen upgraded Maplebear from a "hold" rating to a "buy" rating in a research note on Saturday, July 18th. Wedbush initiated coverage on Maplebear in a research note on Thursday, July 16th. They issued an "outperform" rating and a $59.00 target price on the stock. Needham & Company LLC reaffirmed a "buy" rating and set a $55.00 target price on shares of Maplebear in a report on Thursday, May 7th. Barclays raised their target price on Maplebear from $65.00 to $69.00 and gave the stock an "overweight" rating in a report on Thursday, May 7th. Finally, Wells Fargo & Company boosted their price target on Maplebear from $45.00 to $47.00 and gave the company an "equal weight" rating in a report on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, Maplebear presently has a consensus rating of "Moderate Buy" and an average price target of $51.67.

Maplebear Company 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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