Voloridge Investment Management LLC Has $46.63 Million Stock Position in Maplebear Inc. (NASDAQ:CART)

Voloridge Investment Management LLC lessened its holdings in shares of Maplebear Inc. (NASDAQ:CART - Free Report) by 36.0% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 1,125,847 shares of the company's stock after selling 632,679 shares during the period. Voloridge Investment Management LLC owned 0.44% of Maplebear worth $46,633,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in CART. Jones Financial Companies Lllp boosted its holdings in Maplebear by 46.6% in the fourth 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 last quarter. Allworth Financial LP boosted its holdings in Maplebear by 101.4% in the fourth quarter. Allworth Financial LP now owns 834 shares of the company's stock valued at $37,000 after acquiring an additional 420 shares during the last quarter. NewEdge Advisors LLC boosted its holdings in Maplebear by 277.9% in the fourth quarter. NewEdge Advisors LLC now owns 975 shares of the company's stock valued at $40,000 after acquiring an additional 717 shares during the last quarter. Anderson Financial Strategies LLC bought a new position in Maplebear in the fourth quarter valued at about $46,000. Finally, Cullen Frost Bankers Inc. bought a new position in Maplebear in the fourth quarter valued at about $62,000. Institutional investors own 63.09% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on CART. JMP Securities reiterated a "market outperform" rating and issued a $55.00 price target on shares of Maplebear in a report on Friday, April 11th. FBN Securities began coverage on Maplebear in a report on Friday, March 28th. They issued a "sector perform" rating and a $44.00 price target on the stock. Mizuho decreased their price target on Maplebear from $55.00 to $52.00 and set an "outperform" rating on the stock in a report on Wednesday, February 26th. Wedbush decreased 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. Finally, Cantor Fitzgerald reiterated an "overweight" rating and issued a $55.00 price target on shares of Maplebear in a report on Wednesday, February 26th. Twelve 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. According to data from MarketBeat.com, Maplebear has an average rating of "Moderate Buy" and a consensus target price of $51.30.

Insider Activity at Maplebear

In related news, CEO Fidji Simo sold 20,750 shares of Maplebear stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $43.31, for a total value of $898,682.50. Following the sale, the chief executive officer now owns 1,662,692 shares of the company's stock, valued at approximately $72,011,190.52. This trade represents a 1.23% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Morgan Fong sold 5,249 shares of Maplebear stock in a transaction that occurred 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 completion of the sale, the general counsel now directly owns 484,292 shares in the company, valued at approximately $20,616,310.44. This represents a 1.07% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 36,165 shares of company stock valued at $1,541,785. 26.00% of the stock is owned by insiders.

Maplebear Trading Down 0.1%

Shares of NASDAQ:CART traded down $0.04 during trading on Friday, hitting $46.99. 3,973,745 shares of the company's stock traded hands, compared to its average volume of 4,048,927. Maplebear Inc. has a 52 week low of $29.84 and a 52 week high of $53.44. The company has a market cap of $12.34 billion, a price-to-earnings ratio of 31.54, a price-to-earnings-growth ratio of 1.19 and a beta of 1.19. The company has a 50-day moving average price of $41.93 and a 200-day moving average price of $43.61.

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

Maplebear 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.