Maplebear Inc. $CART Stake Raised by Mitsubishi UFJ Trust & Banking Corp

Key Points

• Mitsubishi UFJ Trust & Banking increased its Maplebear (CART) stake by 20.3% in Q4, buying an additional 25,144 shares to hold 149,118 shares valued at about $6.71 million (0.06% ownership) per its latest 13F filing.
• Several large institutional investors also added or built new positions—including Viking Global (~$169.8M new stake), Holocene Advisors (~$90.2M), Thrivent (now 1,407,993 shares, ~$51.8M) and Bank of America (3,036,736 shares, ~$111.6M)—bringing institutional ownership to 63.09%.
• Analyst sentiment is generally positive with a consensus rating of "Moderate Buy" and an average price target of $51.29, though individual views range from underperform to strong-buy.

Mitsubishi UFJ Trust & Banking Corp grew its holdings in shares of Maplebear Inc. (NASDAQ:CART - Free Report) by 20.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 149,118 shares of the company's stock after buying an additional 25,144 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned 0.06% of Maplebear worth $6,707,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in CART. Viking Global Investors LP bought a new stake in shares of Maplebear during the 2nd quarter worth about $169,782,000. Holocene Advisors LP bought a new stake in shares of Maplebear during the 3rd quarter worth about $90,167,000. Thrivent Financial for Lutherans raised its position in shares of Maplebear by 3,054.0% during the 3rd quarter. Thrivent Financial for Lutherans now owns 1,407,993 shares of the company's stock worth $51,758,000 after buying an additional 1,363,352 shares in the last quarter. Bank of America Corp DE raised its position in shares of Maplebear by 75.9% during the 3rd quarter. Bank of America Corp DE now owns 3,036,736 shares of the company's stock worth $111,630,000 after buying an additional 1,310,392 shares in the last quarter. Finally, Picton Mahoney Asset Management raised its position in shares of Maplebear by 102.3% during the 3rd quarter. Picton Mahoney Asset Management now owns 18,332 shares of the company's stock worth $673,000 after buying an additional 812,389 shares in the last quarter. Institutional investors own 63.09% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on CART shares. BNP Paribas Exane started coverage on shares of Maplebear in a research report on Wednesday, January 14th. They set an "underperform" rating and a $41.00 price target on the stock. Jefferies Financial Group upgraded shares of 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. Wells Fargo & Company boosted their price target on shares of Maplebear from $43.00 to $45.00 and gave the stock an "equal weight" rating in a research report on Monday, March 30th. Stifel Nicolaus dropped their price target on shares of Maplebear from $49.00 to $46.00 and set a "buy" rating on the stock in a research report on Tuesday, January 27th. Finally, Argus upgraded shares of Maplebear to a "strong-buy" rating in a research report on Thursday, March 5th. One investment 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. According to data from MarketBeat, Maplebear has a consensus rating of "Moderate Buy" and an average price target of $51.29.

Maplebear Trading Down 0.4%

Shares of Maplebear stock opened at $42.19 on Friday. The company's 50-day moving average price is $38.99 and its two-hundred day moving average price is $39.86. Maplebear Inc. has a 52 week low of $32.73 and a 52 week high of $53.50. The stock has a market cap of $9.99 billion, a PE ratio of 26.53, a price-to-earnings-growth ratio of 0.65 and a beta of 0.96.

Insiders Place Their Bets

In other news, General Counsel Morgan Fong sold 126,083 shares of the business's stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of $37.09, for a total transaction of $4,676,418.47. Following the sale, the general counsel directly owned 386,643 shares of the company's stock, valued at $14,340,588.87. The trade was a 24.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Lisa Blackwood-Kapral sold 9,390 shares of the business's stock in a transaction on 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 in the company, valued at $2,373,582.75. This trade represents a 13.74% decrease in their ownership of the stock. 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 worth $5,418,135 over the last ninety days. 24.00% of the stock is owned by insiders.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.