Rhumbline Advisers Has $17.28 Million Holdings in Maplebear Inc. (NASDAQ:CART)

Rhumbline Advisers boosted its stake in Maplebear Inc. (NASDAQ:CART - Free Report) by 170.6% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 433,254 shares of the company's stock after purchasing an additional 273,161 shares during the quarter. Rhumbline Advisers owned about 0.17% of Maplebear worth $17,282,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Jones Financial Companies Lllp raised its stake in 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 acquiring an additional 222 shares in the last quarter. Allworth Financial LP raised its stake in Maplebear by 101.4% during the fourth quarter. Allworth Financial LP now owns 834 shares of the company's stock worth $37,000 after acquiring an additional 420 shares in the last quarter. NewEdge Advisors LLC raised its stake in Maplebear by 277.9% during the fourth quarter. NewEdge Advisors LLC now owns 975 shares of the company's stock worth $40,000 after acquiring an additional 717 shares in the last quarter. Anderson Financial Strategies LLC acquired a new position in Maplebear during the fourth quarter worth about $46,000. Finally, Cullen Frost Bankers Inc. acquired a new position in Maplebear during the fourth quarter worth about $62,000. Institutional investors and hedge funds own 63.09% of the company's stock.

Insider Activity at Maplebear

In other news, CEO Fidji Simo sold 8,133 shares of the firm's stock in a transaction on Monday, April 14th. The stock was sold at an average price of $41.60, for a total transaction of $338,332.80. Following the completion of the sale, the chief executive officer now directly owns 1,646,426 shares of the company's stock, valued at $68,491,321.60. This trade represents a 0.49% decrease in their position. 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 on Monday, April 21st. The shares were sold at an average price of $42.57, for a total value of $223,449.93. Following the sale, the general counsel now directly owns 484,292 shares of the company's stock, valued at approximately $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. In the last three months, insiders sold 15,415 shares of company stock valued at $643,103. 26.00% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

CART has been the subject of several research analyst reports. FBN Securities initiated coverage on Maplebear in a research note on Friday, March 28th. They set a "sector perform" rating and a $44.00 target price for the company. Stifel Nicolaus reduced their price target on Maplebear from $57.00 to $54.00 and set a "buy" rating on the stock in a report on Wednesday, April 23rd. Wedbush reduced their price target on Maplebear from $48.00 to $46.00 and set a "neutral" rating on the stock in a report on Wednesday, February 26th. Seaport Res Ptn upgraded Maplebear to a "strong-buy" rating in a report on Wednesday, February 12th. Finally, Barclays boosted their price target on Maplebear from $58.00 to $61.00 and gave the stock an "overweight" rating in a report on Friday, May 2nd. Thirteen research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $51.91.

Maplebear Trading Down 1.2%

NASDAQ CART opened at $45.67 on Friday. The firm has a market capitalization of $11.99 billion, a P/E ratio of 30.65, a PEG ratio of 1.19 and a beta of 1.30. The business has a fifty day simple moving average of $43.17 and a 200 day simple moving average of $43.70. Maplebear Inc. has a 12 month low of $29.84 and a 12 month high of $53.44.

Maplebear (NASDAQ:CART - Get Free Report) last released its quarterly 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). The company had revenue of $897.00 million during the quarter, compared to analysts' expectations of $896.86 million. Maplebear had a net margin of 13.37% and a return on equity of 13.78%. The company's quarterly revenue was up 9.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.43 earnings per share. As a group, sell-side analysts predict that Maplebear Inc. will post 1.43 EPS for the current fiscal year.

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.

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