J. Goldman & Co LP Makes New Investment in Maplebear Inc. (NASDAQ:CART)

J. Goldman & Co LP purchased a new stake in shares of Maplebear Inc. (NASDAQ:CART - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 178,550 shares of the company's stock, valued at approximately $7,396,000. J. Goldman & Co LP owned about 0.07% of Maplebear at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Wilmington Savings Fund Society FSB acquired a new position in shares of Maplebear in the 3rd quarter valued at $33,000. Franklin Resources Inc. increased its holdings in Maplebear by 182.0% in the third quarter. Franklin Resources Inc. now owns 272,928 shares of the company's stock valued at $11,692,000 after purchasing an additional 176,137 shares during the last quarter. Nordea Investment Management AB bought a new stake in Maplebear in the fourth quarter valued at about $2,078,000. Watts Gwilliam & Co. LLC lifted its stake in Maplebear by 39.0% in the fourth quarter. Watts Gwilliam & Co. LLC now owns 7,300 shares of the company's stock valued at $313,000 after buying an additional 2,047 shares during the period. Finally, Wealth Enhancement Advisory Services LLC acquired a new position in shares of Maplebear during the 4th quarter worth about $1,166,000. Institutional investors and hedge funds own 63.09% of the company's stock.

Insider Activity

In other news, CEO Fidji Simo sold 2,033 shares of the company's stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $40.00, for a total value of $81,320.00. Following the sale, the chief executive officer now directly owns 1,654,559 shares of the company's stock, valued at approximately $66,182,360. This represents a 0.12% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Morgan Fong sold 5,249 shares of the firm's 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 owns 484,292 shares of the company's stock, valued at $20,616,310.44. This trade represents a 1.07% decrease in their ownership of the stock. 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 quarter. Company insiders own 26.00% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on CART shares. BMO Capital Markets boosted 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. Morgan Stanley upped their price objective on shares of Maplebear from $44.00 to $45.00 and gave the company an "equal weight" rating in a research report on Wednesday, February 26th. Barclays raised their price objective on Maplebear from $58.00 to $61.00 and gave the stock an "overweight" rating in a research note on Friday, May 2nd. Needham & Company LLC reissued a "buy" rating and issued a $56.00 target price on shares of Maplebear in a research note on Friday, May 2nd. Finally, Mizuho lowered their price target on Maplebear from $55.00 to $52.00 and set an "outperform" rating for the company in a report on Wednesday, February 26th. Twelve investment 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 MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $51.04.

Maplebear Trading Up 3.5%

Shares of Maplebear stock traded up $1.54 on Friday, reaching $45.66. 2,998,799 shares of the company were exchanged, compared to its average volume of 4,076,298. The company has a market capitalization of $11.99 billion, a price-to-earnings ratio of 30.64, a PEG ratio of 1.19 and a beta of 1.19. Maplebear Inc. has a one year low of $29.84 and a one year high of $53.44. The company has a 50-day moving average of $41.01 and a 200 day moving average of $43.53.

Maplebear (NASDAQ:CART - Get Free Report) last issued its earnings results on Thursday, May 1st. The company reported $0.37 earnings per share for the quarter, missing analysts' consensus estimates of $0.38 by ($0.01). The firm 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%. Maplebear's quarterly revenue was up 9.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.43 earnings per share. Analysts predict that Maplebear Inc. will post 1.43 earnings per share for the current year.

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.