Two Sigma Advisers LP Acquires 987,700 Shares of Maplebear Inc. (NASDAQ:CART)

Two Sigma Advisers LP grew its position in Maplebear Inc. (NASDAQ:CART - Free Report) by 59.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,645,500 shares of the company's stock after purchasing an additional 987,700 shares during the quarter. Two Sigma Advisers LP owned about 1.03% of Maplebear worth $109,577,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in CART. Janney Montgomery Scott LLC increased its holdings in shares of Maplebear by 212.1% during the fourth quarter. Janney Montgomery Scott LLC now owns 23,938 shares of the company's stock worth $992,000 after purchasing an additional 16,267 shares during the period. Cherry Creek Investment Advisors Inc. acquired a new stake in Maplebear during the fourth quarter worth approximately $235,000. US Bancorp DE increased its stake in Maplebear by 22.3% during the 4th quarter. US Bancorp DE now owns 13,077 shares of the company's stock worth $542,000 after acquiring an additional 2,387 shares during the period. Commonwealth Equity Services LLC acquired a new position in Maplebear in the 4th quarter valued at $234,000. Finally, PNC Financial Services Group Inc. raised its holdings in Maplebear by 243.3% in the 4th quarter. PNC Financial Services Group Inc. now owns 3,399 shares of the company's stock valued at $141,000 after acquiring an additional 2,409 shares in the last quarter. Institutional investors own 63.09% of the company's stock.

Maplebear Trading Up 0.3%

NASDAQ:CART traded up $0.12 during trading hours on Thursday, hitting $47.03. 2,526,691 shares of the company were exchanged, compared to its average volume of 4,046,845. The stock has a market capitalization of $12.35 billion, a price-to-earnings ratio of 31.56, a price-to-earnings-growth ratio of 1.19 and a beta of 1.19. Maplebear Inc. has a one year low of $29.84 and a one year high of $53.44. The company has a fifty day simple moving average of $41.67 and a 200 day simple moving average of $43.59.

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

Analyst Upgrades and Downgrades

A number of research analysts recently commented on CART shares. Macquarie restated an "outperform" rating and issued a $55.00 price target on shares of Maplebear in a research report on Tuesday, May 6th. Oppenheimer cut their price objective on shares of Maplebear from $65.00 to $60.00 and set an "outperform" rating for the company in a research report on Wednesday, February 26th. BMO Capital Markets upped their price objective on shares of Maplebear from $48.00 to $49.00 and gave the stock a "market perform" rating in a research report on Wednesday, February 26th. Morgan Stanley upped their price objective on shares of Maplebear from $44.00 to $45.00 and gave the stock an "equal weight" rating in a research report on Wednesday, February 26th. Finally, Wells Fargo & Company cut their target price on Maplebear from $47.00 to $44.00 and set an "equal weight" rating for the company in a research note on Thursday, April 3rd. Twelve analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, Maplebear currently has an average rating of "Moderate Buy" and an average price target of $51.30.

Insiders Place Their Bets

In other Maplebear news, General Counsel Morgan Fong sold 5,249 shares of the stock in a transaction dated Monday, April 21st. The stock was sold at an average price of $42.57, for a total transaction of $223,449.93. Following the completion of the sale, the general counsel now directly owns 484,292 shares in the company, valued at approximately $20,616,310.44. This trade represents a 1.07% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Fidji Simo sold 2,033 shares of the stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $40.00, for a total value of $81,320.00. Following the sale, the chief executive officer now owns 1,654,559 shares of the company's stock, valued at approximately $66,182,360. The trade was a 0.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 36,165 shares of company stock worth $1,541,785. Company insiders own 26.00% of the company's stock.

Maplebear Company Profile

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.