Worldquant Millennium Advisors LLC Increases Stock Position in Maplebear Inc. (NASDAQ:CART)

Worldquant Millennium Advisors LLC grew its stake in Maplebear Inc. (NASDAQ:CART - Free Report) by 85.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,847 shares of the company's stock after purchasing an additional 10,987 shares during the period. Worldquant Millennium Advisors LLC's holdings in Maplebear were worth $988,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of CART. Vanguard Group Inc. boosted its position in shares of Maplebear by 16.8% during the 4th quarter. Vanguard Group Inc. now owns 15,968,358 shares of the company's stock valued at $661,409,000 after acquiring an additional 2,300,288 shares in the last quarter. T. Rowe Price Investment Management Inc. increased its stake in Maplebear by 15.5% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 4,744,652 shares of the company's stock valued at $196,524,000 after purchasing an additional 635,930 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in Maplebear by 11,501.2% during the fourth quarter. Victory Capital Management Inc. now owns 4,526,673 shares of the company's stock worth $187,495,000 after purchasing an additional 4,487,654 shares during the last quarter. Jacobs Levy Equity Management Inc. lifted its stake in Maplebear by 85.0% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 3,081,847 shares of the company's stock valued at $127,650,000 after acquiring an additional 1,416,426 shares during the last quarter. Finally, Boston Partners bought a new position in shares of Maplebear in the fourth quarter valued at about $111,506,000. 63.09% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Maplebear

In related news, CEO Fidji Simo sold 2,033 shares of the firm's stock in a transaction on Monday, March 17th. The stock was sold at an average price of $40.00, for a total value of $81,320.00. Following the completion of the sale, the chief executive officer now 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 legal filing with the SEC, which is available through this link. Also, General Counsel Morgan Fong sold 5,249 shares of the firm's stock in a transaction on Monday, April 21st. The stock was 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 of the company's stock, valued at $20,616,310.44. The trade was a 1.07% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 15,415 shares of company stock worth $643,103. Insiders own 26.00% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on CART shares. FBN Securities started coverage on shares of Maplebear in a research report on Friday, March 28th. They set a "sector perform" rating and a $44.00 price target on the stock. Seaport Res Ptn raised shares of Maplebear to a "strong-buy" rating in a research report on Wednesday, February 12th. Macquarie reissued an "outperform" rating and issued a $55.00 target price on shares of Maplebear in a report on Tuesday, May 6th. Mizuho decreased their target price on shares of Maplebear from $55.00 to $52.00 and set an "outperform" rating on the stock in a report on Wednesday, February 26th. Finally, Wedbush reduced their price target on shares of Maplebear from $48.00 to $46.00 and set a "neutral" rating on the stock in a research note on Wednesday, February 26th. Twelve investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $51.61.

Maplebear Price Performance

NASDAQ CART traded up $0.05 on Wednesday, reaching $47.10. 801,123 shares of the company's stock traded hands, compared to its average volume of 4,035,252. Maplebear Inc. has a 12 month low of $29.84 and a 12 month high of $53.44. The stock has a 50-day simple moving average of $42.24 and a 200 day simple moving average of $43.57. The stock has a market cap of $12.36 billion, a PE ratio of 31.64, a P/E/G ratio of 1.19 and a beta of 1.19.

Maplebear (NASDAQ:CART - Get Free Report) last issued 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). 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 in the previous year, the business earned $0.43 earnings per share. The firm's revenue was up 9.4% on a year-over-year basis. As a group, analysts anticipate that Maplebear Inc. will post 1.43 EPS for the current 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.