Wellington Management Group LLP Has $22.98 Million Stock Position in Maplebear Inc. (NASDAQ:CART)

Wellington Management Group LLP boosted its holdings in Maplebear Inc. (NASDAQ:CART - Free Report) by 867.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 554,882 shares of the company's stock after acquiring an additional 497,499 shares during the quarter. Wellington Management Group LLP owned 0.21% of Maplebear worth $22,983,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Janney Montgomery Scott LLC boosted its holdings in Maplebear by 212.1% during the fourth quarter. Janney Montgomery Scott LLC now owns 23,938 shares of the company's stock valued at $992,000 after purchasing an additional 16,267 shares in the last quarter. KBC Group NV boosted its stake in Maplebear by 56.5% in the 4th quarter. KBC Group NV now owns 3,808 shares of the company's stock valued at $158,000 after buying an additional 1,374 shares in the last quarter. Robeco Institutional Asset Management B.V. bought a new stake in Maplebear in the fourth quarter valued at $13,585,000. Adero Partners LLC raised its stake in Maplebear by 7.4% during the fourth quarter. Adero Partners LLC now owns 12,019 shares of the company's stock worth $498,000 after acquiring an additional 828 shares in the last quarter. Finally, Lecap Asset Management Ltd. lifted its holdings in shares of Maplebear by 112.1% during the fourth quarter. Lecap Asset Management Ltd. now owns 76,849 shares of the company's stock valued at $3,183,000 after acquiring an additional 40,612 shares during the period. Institutional investors and hedge funds own 63.09% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on CART shares. JMP Securities reaffirmed a "market outperform" rating and issued a $55.00 target price on shares of Maplebear in a report on Friday, April 11th. Benchmark reaffirmed a "hold" rating on shares of Maplebear in a report on Wednesday, February 26th. Loop Capital boosted their target price on Maplebear from $52.00 to $58.00 and gave the stock a "buy" rating in a report on Monday, May 19th. Barclays increased their price target on Maplebear from $58.00 to $61.00 and gave the stock an "overweight" rating in a research report on Friday, May 2nd. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $56.00 price objective on shares of Maplebear in a research report on Friday, May 2nd. Thirteen 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 company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $51.61.

Maplebear Trading Up 0.4%

Shares of NASDAQ:CART traded up $0.17 during midday trading on Wednesday, hitting $46.21. The company had a trading volume of 1,215,175 shares, compared to its average volume of 4,017,234. Maplebear Inc. has a 12 month low of $29.84 and a 12 month high of $53.44. The firm has a fifty day simple moving average of $42.80 and a 200 day simple moving average of $43.61. The stock has a market cap of $12.13 billion, a price-to-earnings ratio of 31.01, a PEG ratio of 1.19 and a beta of 1.19.

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

Insider Activity at Maplebear

In other Maplebear news, CEO Fidji Simo sold 8,133 shares of the 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 sale, the chief executive officer now directly owns 1,646,426 shares in the company, valued at approximately $68,491,321.60. This trade represents a 0.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, General Counsel Morgan Fong sold 5,249 shares of Maplebear stock in a transaction 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 transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 15,415 shares of company stock worth $643,103 in the last ninety days. Company insiders own 26.00% of the company's stock.

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.