Yousif Capital Management LLC Takes $2.21 Million Position in Maplebear Inc. (NASDAQ:CART)

Yousif Capital Management LLC bought a new stake in Maplebear Inc. (NASDAQ:CART - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 55,395 shares of the company's stock, valued at approximately $2,210,000.

Several other institutional investors have also recently added to or reduced their stakes in CART. Victory Capital Management Inc. grew its stake in shares of Maplebear by 11,501.2% in the fourth quarter. Victory Capital Management Inc. now owns 4,526,673 shares of the company's stock valued at $187,495,000 after buying an additional 4,487,654 shares in the last quarter. Boston Partners purchased a new position in Maplebear during the 4th quarter valued at about $111,506,000. Altimeter Capital Management LP purchased a new position in Maplebear during the 4th quarter valued at about $105,108,000. Vanguard Group Inc. grew its position in Maplebear by 16.8% in 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. Finally, Norges Bank purchased a new stake in Maplebear during the fourth quarter worth about $95,162,000. Institutional investors and hedge funds own 63.09% of the company's stock.

Insider Activity

In related news, CEO Fidji Simo sold 8,133 shares of the business's stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $41.60, for a total value of $338,332.80. Following the transaction, the chief executive officer now owns 1,646,426 shares in the company, valued at $68,491,321.60. The trade was a 0.49% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Levien Meredith A. Kopit sold 4,225 shares of the company's stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $47.45, for a total value of $200,476.25. Following the sale, the director now directly owns 20,829 shares of the company's stock, valued at approximately $988,336.05. This represents a 16.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 17,607 shares of company stock valued at $762,259. Insiders own 26.00% of the company's stock.

Maplebear Stock Performance

NASDAQ CART traded down $0.41 on Thursday, reaching $43.14. The stock had a trading volume of 3,689,309 shares, compared to its average volume of 4,016,481. The stock has a market cap of $11.33 billion, a P/E ratio of 28.38, a price-to-earnings-growth ratio of 1.83 and a beta of 1.30. Maplebear Inc. has a 12-month low of $29.84 and a 12-month high of $53.44. The business's 50-day moving average price is $44.06 and its 200 day moving average price is $43.73.

Maplebear (NASDAQ:CART - Get Free Report) last announced its 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 business had revenue of $897.00 million during the quarter, compared to analyst estimates of $896.86 million. Maplebear had a net margin of 12.45% and a return on equity of 14.12%. The business's revenue was up 9.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.43 earnings per share. On average, sell-side analysts predict that Maplebear Inc. will post 1.43 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on CART shares. Wall Street Zen cut shares of Maplebear from a "buy" rating to a "hold" rating in a research report on Friday, May 30th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $55.00 target price on shares of Maplebear in a research note on Wednesday, February 26th. Benchmark reissued a "hold" rating on shares of Maplebear in a research report on Wednesday, February 26th. Stifel Nicolaus dropped their price target on shares of Maplebear from $57.00 to $54.00 and set a "buy" rating for the company in a research note on Wednesday, April 23rd. Finally, JPMorgan Chase & Co. cut their price objective on Maplebear from $50.00 to $44.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. Thirteen equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $51.91.

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.