9,965 Shares in Maplebear Inc. (NASDAQ:CART) Purchased by Rafferty Asset Management LLC

Rafferty Asset Management LLC bought a new position in Maplebear Inc. (NASDAQ:CART - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 9,965 shares of the company's stock, valued at approximately $413,000.

A number of other institutional investors have also added to or reduced their stakes in the company. SG Americas Securities LLC purchased a new position in shares of Maplebear in the 4th quarter worth about $1,401,000. Janney Montgomery Scott LLC boosted its stake in Maplebear by 212.1% in the fourth quarter. Janney Montgomery Scott LLC now owns 23,938 shares of the company's stock worth $992,000 after buying an additional 16,267 shares in the last quarter. Arkfeld Wealth Strategies L.L.C. raised its position in Maplebear by 70.1% in the 4th quarter. Arkfeld Wealth Strategies L.L.C. now owns 18,628 shares of the company's stock worth $829,000 after purchasing an additional 7,680 shares during the period. KBC Group NV lifted its position in Maplebear by 56.5% in the fourth quarter. KBC Group NV now owns 3,808 shares of the company's stock valued at $158,000 after purchasing an additional 1,374 shares during the last quarter. Finally, Cherry Creek Investment Advisors Inc. bought a new position in shares of Maplebear in the fourth quarter worth approximately $235,000. Institutional investors own 63.09% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on CART shares. Benchmark reissued a "hold" rating on shares of Maplebear in a research report on Wednesday, February 26th. Wells Fargo & Company lowered their price objective on shares of Maplebear from $47.00 to $44.00 and set an "equal weight" rating for the company in a research note on Thursday, April 3rd. Morgan Stanley increased their target price on shares of Maplebear from $44.00 to $45.00 and gave the stock an "equal weight" rating in a report on Wednesday, February 26th. Oppenheimer reduced their price target on Maplebear from $65.00 to $60.00 and set an "outperform" rating on the stock in a report on Wednesday, February 26th. Finally, Stifel Nicolaus lowered their price target on Maplebear from $57.00 to $54.00 and set a "buy" rating for the company in a research report on Wednesday, April 23rd. Twelve research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $51.61.

Insider Transactions at Maplebear

In related news, General Counsel Morgan Fong sold 5,249 shares of Maplebear stock in a transaction that occurred on Monday, April 21st. The stock was sold at an average price of $42.57, for a total transaction of $223,449.93. Following the sale, the general counsel now owns 484,292 shares of the company's stock, valued at approximately $20,616,310.44. This trade represents a 1.07% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Fidji Simo sold 8,133 shares of Maplebear stock in a transaction that occurred on Monday, April 14th. The shares were sold at an average price of $41.60, for a total transaction of $338,332.80. Following 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 position. The disclosure for this sale can be found here. Insiders have sold 15,415 shares of company stock worth $643,103 in the last quarter. Company insiders own 26.00% of the company's stock.

Maplebear Price Performance

Maplebear stock traded down $0.19 during mid-day trading on Wednesday, reaching $46.87. The stock had a trading volume of 614,028 shares, compared to its average volume of 4,034,546. The company has a 50-day moving average price of $42.24 and a two-hundred day moving average price of $43.57. The company has a market capitalization of $12.30 billion, a price-to-earnings ratio of 31.49, a PEG 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.

Maplebear (NASDAQ:CART - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The company reported $0.37 earnings per share 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 business had revenue of $897.00 million during the quarter, compared to analysts' expectations of $896.86 million. During the same quarter in the prior year, the firm earned $0.43 EPS. The firm's revenue for the quarter was up 9.4% compared to the same quarter last year. On average, equities research analysts anticipate that Maplebear Inc. will post 1.43 earnings per share for the current fiscal year.

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.