Rafferty Asset Management LLC Purchases Shares of 9,965 Maplebear Inc. (NASDAQ:CART)

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

Other institutional investors also recently modified their holdings of the company. Jones Financial Companies Lllp lifted its position in shares of Maplebear by 46.6% during the 4th quarter. Jones Financial Companies Lllp now owns 698 shares of the company's stock valued at $29,000 after acquiring an additional 222 shares during the period. Allworth Financial LP increased its stake in Maplebear by 101.4% during the 4th quarter. Allworth Financial LP now owns 834 shares of the company's stock valued at $37,000 after purchasing an additional 420 shares in the last quarter. NewEdge Advisors LLC increased its stake in Maplebear by 277.9% during the 4th quarter. NewEdge Advisors LLC now owns 975 shares of the company's stock valued at $40,000 after purchasing an additional 717 shares in the last quarter. Anderson Financial Strategies LLC bought a new stake in Maplebear during the 4th quarter valued at $46,000. Finally, Cullen Frost Bankers Inc. bought a new stake in Maplebear during the 4th quarter valued at $62,000. Institutional investors and hedge funds own 63.09% of the company's stock.

Analyst Upgrades and Downgrades

CART has been the subject of a number of recent research reports. FBN Securities initiated coverage on shares of Maplebear in a research note on Friday, March 28th. They set a "sector perform" rating and a $44.00 price target for the company. Loop Capital upped their target price on shares of Maplebear from $52.00 to $58.00 and gave the stock a "buy" rating in a research note on Monday, May 19th. Citigroup upped their target price on shares of Maplebear from $55.00 to $57.00 and gave the stock a "buy" rating in a research note on Tuesday, May 13th. Barclays upped their target price on shares of Maplebear from $58.00 to $61.00 and gave the stock an "overweight" rating in a research note on Friday, May 2nd. Finally, JPMorgan Chase & Co. reduced their target price on shares of Maplebear from $50.00 to $44.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. Twelve equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $51.61.

Maplebear Trading Down 0.2%

Shares of Maplebear stock traded down $0.10 on Tuesday, reaching $46.90. The stock had a trading volume of 1,536,187 shares, compared to its average volume of 4,041,044. Maplebear Inc. has a 1 year low of $29.84 and a 1 year high of $53.44. The company has a market cap of $12.31 billion, a P/E ratio of 31.48, a price-to-earnings-growth ratio of 1.19 and a beta of 1.19. The business's 50 day moving average is $42.08 and its two-hundred day moving average is $43.54.

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

Insider Transactions at Maplebear

In related news, CEO Fidji Simo sold 2,033 shares of the firm's stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $40.00, for a total value of $81,320.00. Following the sale, the chief executive officer now directly owns 1,654,559 shares of the company's stock, valued at $66,182,360. This trade represents a 0.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, General Counsel Morgan Fong sold 5,249 shares of the firm's stock in a transaction that occurred on Monday, April 21st. The shares were 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 $20,616,310.44. This represents a 1.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 36,165 shares of company stock valued at $1,541,785. 26.00% of the stock is currently owned by corporate insiders.

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.