Maplebear Inc. (NASDAQ:CART) Stock Position Increased by Renaissance Capital LLC

Renaissance Capital LLC boosted its position in Maplebear Inc. (NASDAQ:CART - Free Report) by 16.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 178,063 shares of the company's stock after buying an additional 24,874 shares during the period. Maplebear makes up 5.5% of Renaissance Capital LLC's holdings, making the stock its 5th biggest holding. Renaissance Capital LLC owned about 0.07% of Maplebear worth $7,103,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Jones Financial Companies Lllp increased its stake in Maplebear by 46.6% in the fourth quarter. Jones Financial Companies Lllp now owns 698 shares of the company's stock valued at $29,000 after purchasing an additional 222 shares in the last quarter. Allworth Financial LP increased its stake in Maplebear by 101.4% in the fourth quarter. Allworth Financial LP now owns 834 shares of the company's stock valued at $37,000 after purchasing an additional 420 shares in the last quarter. NewEdge Advisors LLC increased its stake in Maplebear by 277.9% in the fourth quarter. NewEdge Advisors LLC now owns 975 shares of the company's stock valued at $40,000 after purchasing an additional 717 shares in the last quarter. Anderson Financial Strategies LLC bought a new stake in Maplebear in the fourth quarter valued at $46,000. Finally, Cullen Frost Bankers Inc. bought a new stake in Maplebear in the fourth quarter valued at $62,000. Institutional investors and hedge funds own 63.09% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on CART shares. JPMorgan Chase & Co. decreased their price target on shares of Maplebear from $50.00 to $44.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. Macquarie restated an "outperform" rating and issued a $55.00 target price on shares of Maplebear in a report on Tuesday, May 6th. Wedbush lowered their target price on shares of Maplebear from $48.00 to $46.00 and set a "neutral" rating on the stock in a report on Wednesday, February 26th. BMO Capital Markets upped their target price on shares of Maplebear from $48.00 to $49.00 and gave the stock a "market perform" rating in a report on Wednesday, February 26th. Finally, Seaport Res Ptn upgraded shares of Maplebear to a "strong-buy" rating in a report on Wednesday, February 12th. Thirteen investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, Maplebear currently has an average rating of "Moderate Buy" and a consensus price target of $51.91.

Maplebear Price Performance

Shares of Maplebear stock traded down $1.74 on Tuesday, reaching $44.18. 3,458,602 shares of the company traded hands, compared to its average volume of 4,016,852. Maplebear Inc. has a 52 week low of $29.84 and a 52 week high of $53.44. The company has a 50 day moving average of $43.36 and a 200 day moving average of $43.73. The firm has a market capitalization of $11.60 billion, a PE ratio of 29.65, a PEG ratio of 1.19 and a beta of 1.30.

Maplebear (NASDAQ:CART - Get Free Report) last released its earnings results on Thursday, May 1st. The company reported $0.37 earnings per share for the quarter, missing analysts' consensus estimates of $0.38 by ($0.01). Maplebear had a net margin of 13.37% and a return on equity of 13.78%. The company had revenue of $897.00 million for the quarter, compared to the consensus estimate of $896.86 million. During the same period in the prior year, the company earned $0.43 earnings per share. The firm's revenue was up 9.4% on a year-over-year basis. As a group, analysts anticipate that Maplebear Inc. will post 1.43 earnings per share for the current year.

Insider Activity

In related news, CEO Fidji Simo sold 8,133 shares of the company's stock in a transaction that occurred on Monday, April 14th. The shares were sold at an average price of $41.60, for a total transaction of $338,332.80. Following the sale, the chief executive officer now directly owns 1,646,426 shares in the company, valued at approximately $68,491,321.60. This represents a 0.49% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Levien Meredith A. Kopit sold 4,225 shares of the company's stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $47.45, for a total transaction of $200,476.25. Following the sale, the director now owns 20,829 shares in the company, valued at $988,336.05. The trade was a 16.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 19,640 shares of company stock valued at $843,579 in the last three months. Company insiders own 26.00% of the company's stock.

About Maplebear

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.