Polianta Ltd Takes $1.26 Million Position in Maplebear Inc. (NASDAQ:CART)

Polianta Ltd acquired a new position in shares of Maplebear Inc. (NASDAQ:CART - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 31,500 shares of the company's stock, valued at approximately $1,256,000. Maplebear makes up approximately 0.6% of Polianta Ltd's investment portfolio, making the stock its 20th largest position.

Other hedge funds have also modified their holdings of the company. Jones Financial Companies Lllp grew its holdings in shares of Maplebear by 46.6% during the fourth quarter. Jones Financial Companies Lllp now owns 698 shares of the company's stock worth $29,000 after buying an additional 222 shares in the last quarter. Allworth Financial LP grew its stake in Maplebear by 101.4% in the 4th quarter. Allworth Financial LP now owns 834 shares of the company's stock worth $37,000 after acquiring an additional 420 shares during the period. NewEdge Advisors LLC grew its stake 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 acquiring an additional 717 shares during the period. UMB Bank n.a. grew its stake 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 acquiring an additional 905 shares during the period. Finally, Anderson Financial Strategies LLC purchased a new stake in Maplebear in the 4th quarter worth approximately $46,000. 63.09% of the stock is owned by hedge funds and other institutional investors.

Maplebear Price Performance

Maplebear stock traded up $0.50 during midday trading on Monday, hitting $43.87. 6,269,492 shares of the stock were exchanged, compared to its average volume of 4,032,524. Maplebear Inc. has a 1 year low of $29.84 and a 1 year high of $53.44. The firm has a market cap of $11.52 billion, a P/E ratio of 29.44, a P/E/G ratio of 1.19 and a beta of 1.30. The company has a 50 day moving average price of $43.89 and a two-hundred day moving average price of $43.74.

Maplebear (NASDAQ:CART - Get Free Report) last released its quarterly 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). Maplebear had a return on equity of 13.78% and a net margin of 13.37%. The firm had revenue of $897.00 million for the quarter, compared to analysts' expectations of $896.86 million. During the same period last year, the firm earned $0.43 EPS. The business's quarterly revenue was up 9.4% on a year-over-year basis. As a group, analysts predict that Maplebear Inc. will post 1.43 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on CART shares. JPMorgan Chase & Co. lowered their price objective on Maplebear from $50.00 to $44.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. Cantor Fitzgerald restated an "overweight" rating and issued a $55.00 price target on shares of Maplebear in a report on Wednesday, February 26th. Wall Street Zen cut Maplebear from a "buy" rating to a "hold" rating in a report on Friday, May 30th. Wells Fargo & Company lowered their target price on shares of Maplebear from $47.00 to $44.00 and set an "equal weight" rating for the company in a report on Thursday, April 3rd. Finally, Citigroup boosted their target price on shares of Maplebear from $55.00 to $57.00 and gave the company a "buy" rating in a report on Tuesday, May 13th. Thirteen analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $51.91.

Insider Transactions at Maplebear

In related news, CEO Fidji Simo sold 8,133 shares of Maplebear stock in a transaction on Monday, April 14th. The shares were 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 now owns 1,646,426 shares in the company, valued at approximately $68,491,321.60. The trade was a 0.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Morgan Fong sold 5,249 shares of the business's 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 of the company's stock, valued at $20,616,310.44. The trade was a 1.07% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 17,607 shares of company stock valued at $762,259. 26.00% of the stock is currently owned by insiders.

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.