Victory Capital Management Inc. Has $293.92 Million Holdings in Maplebear Inc. (NASDAQ:CART)

Victory Capital Management Inc. grew its position in Maplebear Inc. (NASDAQ:CART - Free Report) by 62.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,368,232 shares of the company's stock after purchasing an additional 2,841,559 shares during the period. Victory Capital Management Inc. owned about 2.81% of Maplebear worth $293,919,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of CART. Proathlete Wealth Management LLC acquired a new position in Maplebear in the 1st quarter worth about $26,000. Jones Financial Companies Lllp increased its position in Maplebear by 46.6% in the 4th quarter. Jones Financial Companies Lllp now owns 698 shares of the company's stock worth $29,000 after purchasing an additional 222 shares during the last quarter. NewEdge Advisors LLC increased its position in Maplebear by 277.9% in the 4th quarter. NewEdge Advisors LLC now owns 975 shares of the company's stock worth $40,000 after purchasing an additional 717 shares during the last quarter. UMB Bank n.a. increased its position in Maplebear by 914.1% in the 1st quarter. UMB Bank n.a. now owns 1,004 shares of the company's stock worth $40,000 after purchasing an additional 905 shares during the last quarter. Finally, Spire Wealth Management acquired a new position in Maplebear in the 1st quarter worth about $41,000. 63.09% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Levien Meredith A. Kopit sold 4,225 shares of the stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $47.45, for a total value of $200,476.25. Following the completion of the transaction, the director directly owned 20,829 shares of the company's stock, valued at approximately $988,336.05. This represents a 16.86% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, General Counsel Morgan Fong sold 4,680 shares of the stock in a transaction that occurred on Friday, June 20th. The stock was sold at an average price of $43.90, for a total value of $205,452.00. Following the completion of the transaction, the general counsel directly owned 456,680 shares of the company's stock, valued at approximately $20,048,252. The trade was a 1.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 28,387 shares of company stock worth $1,310,570. 26.00% of the stock is currently owned by company insiders.

Maplebear Stock Up 1.5%

Shares of CART stock traded up $0.74 during mid-day trading on Friday, reaching $49.11. The stock had a trading volume of 3,356,560 shares, compared to its average volume of 3,958,422. The firm's 50 day simple moving average is $45.93 and its 200 day simple moving average is $44.30. Maplebear Inc. has a one year low of $29.84 and a one year high of $53.44. The firm has a market cap of $12.89 billion, a PE ratio of 32.31, a P/E/G ratio of 2.03 and a beta of 1.21.

Maplebear (NASDAQ:CART - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The company reported $0.37 EPS for the quarter, missing analysts' consensus estimates of $0.38 by ($0.01). Maplebear had a return on equity of 14.12% and a net margin of 12.45%. The firm had revenue of $897.00 million during the quarter, compared to the consensus estimate of $896.86 million. During the same quarter in the prior year, the business posted $0.43 EPS. Maplebear's revenue was up 9.4% compared to the same quarter last year. Sell-side analysts forecast that Maplebear Inc. will post 1.43 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

CART has been the topic of several research reports. Wells Fargo & Company lowered their price objective on Maplebear from $47.00 to $44.00 and set an "equal weight" rating on the stock in a report on Thursday, April 3rd. Macquarie reissued an "outperform" rating and set a $55.00 price objective on shares of Maplebear in a report on Tuesday, May 6th. JMP Securities reissued a "market outperform" rating and set a $55.00 price objective on shares of Maplebear in a report on Thursday, June 12th. Loop Capital increased their price objective on Maplebear from $52.00 to $58.00 and gave the company a "buy" rating in a report on Monday, May 19th. Finally, Citigroup increased their price objective on Maplebear from $55.00 to $57.00 and gave the company a "buy" rating in a report on Tuesday, May 13th. Eleven research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Maplebear has a consensus rating of "Moderate Buy" and an average price target of $51.95.

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.