Maplebear Inc. (NASDAQ:CART) Shares Purchased by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. increased its holdings in Maplebear Inc. (NASDAQ:CART - Free Report) by 81.0% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 29,692 shares of the company's stock after acquiring an additional 13,284 shares during the period. Oppenheimer & Co. Inc.'s holdings in Maplebear were worth $1,184,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Victory Capital Management Inc. grew its holdings in shares of Maplebear by 11,501.2% during the 4th quarter. Victory Capital Management Inc. now owns 4,526,673 shares of the company's stock worth $187,495,000 after purchasing an additional 4,487,654 shares during the period. Boston Partners purchased a new stake in shares of Maplebear in the 4th quarter valued at approximately $111,506,000. Altimeter Capital Management LP purchased a new stake in shares of Maplebear in the 4th quarter valued at approximately $105,108,000. Vanguard Group Inc. lifted its holdings in shares of Maplebear by 16.8% in the 4th quarter. Vanguard Group Inc. now owns 15,968,358 shares of the company's stock worth $661,409,000 after acquiring an additional 2,300,288 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of Maplebear during the 4th quarter worth approximately $95,162,000. Institutional investors and hedge funds own 63.09% of the company's stock.

Maplebear Trading Up 1.2%

NASDAQ:CART traded up $0.56 during midday trading on Wednesday, hitting $46.20. 1,573,058 shares of the company were exchanged, compared to its average volume of 3,934,283. Maplebear Inc. has a fifty-two week low of $29.84 and a fifty-two week high of $53.44. The company has a market capitalization of $12.13 billion, a PE ratio of 30.39, a price-to-earnings-growth ratio of 1.91 and a beta of 1.22. The company has a fifty day simple moving average of $44.54 and a 200 day simple moving average of $43.82.

Maplebear (NASDAQ:CART - Get Free Report) last posted its earnings results 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 for the quarter, compared to analyst estimates of $896.86 million. During the same quarter last year, the firm posted $0.43 EPS. The firm's revenue for the quarter was up 9.4% on a year-over-year basis. As a group, equities research analysts expect that Maplebear Inc. will post 1.43 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Loop Capital boosted their target price on Maplebear from $52.00 to $58.00 and gave the company a "buy" rating in a research report on Monday, May 19th. Citigroup increased their target price on Maplebear from $55.00 to $57.00 and gave the stock a "buy" rating in a research note on Tuesday, May 13th. Jefferies Financial Group boosted their price target on shares of Maplebear from $48.00 to $50.00 and gave the stock a "hold" rating in a research note on Tuesday, May 27th. Needham & Company LLC reissued a "buy" rating and set a $56.00 price target on shares of Maplebear in a research report on Friday, May 2nd. Finally, Wall Street Zen cut shares of Maplebear from a "buy" rating to a "hold" rating in a report on Friday, May 30th. Thirteen research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $51.91.

Insiders Place Their Bets

In other news, CEO Fidji Simo sold 8,133 shares of the stock in a transaction that occurred on Monday, April 14th. The stock was sold at an average price of $41.60, for a total value of $338,332.80. Following the completion of the sale, the chief executive officer directly owned 1,646,426 shares of the company's stock, valued at approximately $68,491,321.60. This represents a 0.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Levien Meredith A. Kopit sold 4,225 shares of the firm's stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $47.45, for a total transaction of $200,476.25. Following the transaction, the director owned 20,829 shares in the company, valued at approximately $988,336.05. This trade represents a 16.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 22,287 shares of company stock valued at $967,711 over the last quarter. 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.