Gotham Asset Management LLC Increases Stake in Maplebear Inc. (NASDAQ:CART)

Gotham Asset Management LLC boosted its position in shares of Maplebear Inc. (NASDAQ:CART - Free Report) by 3.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 300,620 shares of the company's stock after acquiring an additional 9,646 shares during the period. Gotham Asset Management LLC owned 0.12% of Maplebear worth $12,452,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB bought a new position in Maplebear in the 3rd quarter worth approximately $33,000. Franklin Resources Inc. lifted its holdings in shares of Maplebear by 182.0% in the third quarter. Franklin Resources Inc. now owns 272,928 shares of the company's stock worth $11,692,000 after buying an additional 176,137 shares in the last quarter. Nordea Investment Management AB bought a new position in shares of Maplebear during the fourth quarter worth $2,078,000. Wealth Enhancement Advisory Services LLC purchased a new position in Maplebear during the fourth quarter valued at $1,166,000. Finally, Paragon Capital Management Ltd increased its holdings in Maplebear by 33.3% in the 4th quarter. Paragon Capital Management Ltd now owns 12,740 shares of the company's stock valued at $528,000 after acquiring an additional 3,185 shares during the last quarter. Hedge funds and other institutional investors own 63.09% of the company's stock.

Analyst Ratings Changes

Several research analysts have commented on CART shares. BMO Capital Markets increased their price objective on shares of Maplebear from $48.00 to $49.00 and gave the company a "market perform" rating in a report on Wednesday, February 26th. Benchmark reissued a "hold" rating on shares of Maplebear in a research note on Wednesday, February 26th. JPMorgan Chase & Co. cut their price target on Maplebear from $50.00 to $44.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. Mizuho decreased their price objective on Maplebear from $55.00 to $52.00 and set an "outperform" rating on the stock in a report on Wednesday, February 26th. Finally, Stifel Nicolaus reduced their price target on shares of Maplebear from $57.00 to $54.00 and set a "buy" rating on the stock in a research report on Wednesday, April 23rd. Twelve investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $51.04.

Insider Activity

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

Maplebear Trading Down 2.4%

Shares of CART stock traded down $1.09 during mid-day trading on Thursday, reaching $44.12. The stock had a trading volume of 4,793,003 shares, compared to its average volume of 4,105,394. The firm has a market cap of $11.58 billion, a price-to-earnings ratio of 29.61, a PEG ratio of 1.19 and a beta of 1.19. The business's fifty day moving average is $40.90 and its 200-day moving average is $43.54. Maplebear Inc. has a 1-year low of $29.84 and a 1-year high of $53.44.

Maplebear (NASDAQ:CART - Get Free Report) last posted its earnings results on Thursday, May 1st. The company reported $0.37 EPS for the quarter, missing the consensus estimate of $0.38 by ($0.01). The company had revenue of $897.00 million for the quarter, compared to analyst estimates of $896.86 million. Maplebear had a return on equity of 13.78% and a net margin of 13.37%. The firm's revenue was up 9.4% on a year-over-year basis. During the same period last year, the business earned $0.43 earnings per share. On average, analysts forecast that Maplebear Inc. will post 1.43 earnings per share 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.