Hershey Trust Co. Purchases Shares of 10,649 Maplebear Inc. (NASDAQ:CART)

Hershey Trust Co. acquired a new stake in shares of Maplebear Inc. (NASDAQ:CART - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 10,649 shares of the company's stock, valued at approximately $441,000. Maplebear accounts for about 0.0% of Hershey Trust Co.'s investment portfolio, making the stock its 4th biggest holding.

Several other large investors also recently modified their holdings of the business. AQR Capital Management LLC purchased a new position in Maplebear in the 4th quarter worth approximately $6,646,000. Candlestick Capital Management LP raised its position in shares of Maplebear by 55.7% during the fourth quarter. Candlestick Capital Management LP now owns 977,672 shares of the company's stock valued at $40,495,000 after buying an additional 349,893 shares during the last quarter. Northern Trust Corp lifted its position in shares of Maplebear by 11.2% in the fourth quarter. Northern Trust Corp now owns 786,296 shares of the company's stock worth $32,568,000 after buying an additional 78,931 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in Maplebear by 2.0% during the fourth quarter. The Manufacturers Life Insurance Company now owns 49,158 shares of the company's stock valued at $2,036,000 after purchasing an additional 954 shares during the last quarter. Finally, Shorepoint Capital Partners LLC boosted its holdings in shares of Maplebear by 14.9% in the 4th quarter. Shorepoint Capital Partners LLC now owns 7,085 shares of the company's stock worth $293,000 after purchasing an additional 919 shares during the period. 63.09% of the stock is owned by institutional investors.

Insider Activity at Maplebear

In other news, General Counsel Morgan Fong sold 5,249 shares of Maplebear stock in a transaction dated Monday, April 21st. The shares were sold at an average price of $42.57, for a total transaction of $223,449.93. Following the completion of the sale, the general counsel now directly owns 484,292 shares in the company, valued at $20,616,310.44. The trade was a 1.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Fidji Simo sold 2,033 shares of Maplebear stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $40.00, for a total transaction of $81,320.00. Following the completion of the sale, the chief executive officer now directly owns 1,654,559 shares of the company's stock, valued at $66,182,360. The trade was a 0.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 36,165 shares of company stock worth $1,541,785 over the last 90 days. Company insiders own 26.00% of the company's stock.

Analysts Set New Price Targets

CART has been the subject of several research reports. JMP Securities reissued a "market outperform" rating and issued a $55.00 price objective on shares of Maplebear in a research report on Friday, April 11th. Wedbush cut their price target on shares of Maplebear from $48.00 to $46.00 and set a "neutral" rating on the stock in a report on Wednesday, February 26th. Barclays upped their price objective on shares of Maplebear from $58.00 to $61.00 and gave the company an "overweight" rating in a report on Friday. Seaport Res Ptn raised Maplebear to a "strong-buy" rating in a research report on Wednesday, February 12th. Finally, BMO Capital Markets upped 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. Twelve analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $50.61.

Maplebear Price Performance

Shares of CART traded up $5.42 during midday trading on Friday, reaching $45.22. 12,363,136 shares of the stock were exchanged, compared to its average volume of 4,115,105. The company has a market capitalization of $11.87 billion, a price-to-earnings ratio of 30.35, a PEG ratio of 1.19 and a beta of 1.20. Maplebear Inc. has a twelve month low of $29.84 and a twelve month high of $53.44. The business's 50-day moving average price is $40.17 and its 200 day moving average price is $43.44.

Maplebear (NASDAQ:CART - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The company reported $0.37 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.38 by ($0.01). Maplebear had a return on equity of 13.78% and a net margin of 13.37%. The firm had revenue of $897.00 million for the quarter, compared to analyst estimates of $896.86 million. During the same quarter last year, the firm earned $0.43 earnings per share. The company's revenue was up 9.4% compared to the same quarter last year. As a group, equities research analysts expect 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.