Maplebear Inc. $CART Shares Acquired by Vanguard Group Inc.

Vanguard Group Inc. boosted its position in Maplebear Inc. (NASDAQ:CART - Free Report) by 3.4% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 16,514,830 shares of the company's stock after purchasing an additional 546,472 shares during the quarter. Vanguard Group Inc. owned about 6.29% of Maplebear worth $658,777,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. CWM LLC increased its holdings in Maplebear by 35.1% in the 1st quarter. CWM LLC now owns 1,058 shares of the company's stock valued at $42,000 after purchasing an additional 275 shares during the last quarter. Signaturefd LLC grew its stake in shares of Maplebear by 27.1% in the first quarter. Signaturefd LLC now owns 1,335 shares of the company's stock valued at $53,000 after buying an additional 285 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Maplebear by 18.6% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,056 shares of the company's stock valued at $82,000 after buying an additional 322 shares during the period. Wealthspire Advisors LLC grew its holdings in shares of Maplebear by 0.5% in the first quarter. Wealthspire Advisors LLC now owns 70,951 shares of the company's stock valued at $2,830,000 after purchasing an additional 334 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its stake in Maplebear by 0.5% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 74,846 shares of the company's stock worth $2,986,000 after buying an additional 336 shares during the period. Institutional investors and hedge funds own 63.09% of the company's stock.

Wall Street Analyst Weigh In

CART has been the topic of a number of recent research reports. Robert W. Baird upped their price objective on Maplebear from $47.00 to $52.00 and gave the stock an "outperform" rating in a research report on Thursday, July 17th. Stifel Nicolaus lifted their price objective on shares of Maplebear from $55.00 to $64.00 and gave the stock a "buy" rating in a research report on Friday, August 8th. Barclays upped their price objective on Maplebear from $61.00 to $65.00 and gave the stock an "overweight" rating in a research report on Friday, August 8th. Wall Street Zen upgraded Maplebear from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. Finally, Macquarie reiterated an "outperform" rating and issued a $55.00 price target on shares of Maplebear in a research note on Tuesday, May 6th. Nine investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $55.46.

Maplebear Trading Up 3.5%

Shares of Maplebear stock traded up $1.56 during trading hours on Monday, reaching $45.48. 1,439,540 shares of the company's stock were exchanged, compared to its average volume of 4,344,780. Maplebear Inc. has a 52-week low of $31.99 and a 52-week high of $53.50. The company has a fifty day moving average of $46.80 and a 200-day moving average of $44.69. The firm has a market capitalization of $11.98 billion, a price-to-earnings ratio of 26.28, a price-to-earnings-growth ratio of 1.46 and a beta of 1.21.

Maplebear (NASDAQ:CART - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The company reported $0.41 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.39 by $0.02. The firm had revenue of $914.00 million for the quarter, compared to analyst estimates of $896.55 million. Maplebear had a return on equity of 15.69% and a net margin of 13.76%. The firm's quarterly revenue was up 11.1% on a year-over-year basis. During the same period last year, the company earned $0.20 EPS. On average, equities research analysts anticipate that Maplebear Inc. will post 1.43 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Levien Meredith A. Kopit sold 4,225 shares of the stock in a transaction 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 sale, the director directly owned 20,829 shares in the company, valued at approximately $988,336.05. This represents a 16.86% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Daniel Danker sold 10,037 shares of the business's stock in a transaction dated Friday, July 18th. The stock was sold at an average price of $48.82, for a total value of $490,006.34. Following the transaction, the insider owned 470,190 shares in the company, valued at approximately $22,954,675.80. This represents a 2.09% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 4,975,327 shares of company stock worth $237,736,848 over the last 90 days. Company insiders own 26.00% of the company's stock.

Maplebear 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.