Jacobs Levy Equity Management Inc. Increases Stake in Maplebear Inc. (NASDAQ:CART)

Jacobs Levy Equity Management Inc. increased its position in shares of Maplebear Inc. (NASDAQ:CART - Free Report) by 85.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,081,847 shares of the company's stock after purchasing an additional 1,416,426 shares during the period. Jacobs Levy Equity Management Inc. owned approximately 1.20% of Maplebear worth $127,650,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Jones Financial Companies Lllp lifted its stake in shares of Maplebear by 46.6% during the 4th quarter. Jones Financial Companies Lllp now owns 698 shares of the company's stock worth $29,000 after acquiring an additional 222 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in shares of Maplebear during the third quarter valued at $33,000. Allworth Financial LP grew its holdings in shares of Maplebear by 101.4% in the fourth quarter. Allworth Financial LP now owns 834 shares of the company's stock worth $37,000 after purchasing an additional 420 shares during the last quarter. NewEdge Advisors LLC increased its stake in Maplebear by 277.9% in the 4th quarter. NewEdge Advisors LLC now owns 975 shares of the company's stock worth $40,000 after buying an additional 717 shares during the period. Finally, Anderson Financial Strategies LLC bought a new stake in Maplebear during the 4th quarter valued at about $46,000. 63.09% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Needham & Company LLC reaffirmed a "buy" rating and set a $56.00 target price on shares of Maplebear in a research report on Friday, May 2nd. Stifel Nicolaus reduced their price objective on Maplebear from $57.00 to $54.00 and set a "buy" rating on the stock in a report on Wednesday, April 23rd. Macquarie reiterated an "outperform" rating and issued a $55.00 target price on shares of Maplebear in a report on Tuesday, May 6th. Seaport Res Ptn upgraded Maplebear to a "strong-buy" rating in a research note on Wednesday, February 12th. Finally, Morgan Stanley lifted their price objective on Maplebear from $44.00 to $45.00 and gave the company an "equal weight" rating in a report on Wednesday, February 26th. Twelve equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $50.61.

Insider Activity

In related news, CEO Fidji Simo sold 20,750 shares of the firm's stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $43.31, for a total transaction of $898,682.50. Following the sale, the chief executive officer now directly owns 1,662,692 shares of the company's stock, valued at $72,011,190.52. This trade represents a 1.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Morgan Fong sold 5,249 shares of the business's stock in a transaction that occurred 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 transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 36,165 shares of company stock valued at $1,541,785 in the last ninety days. Insiders own 26.00% of the company's stock.

Maplebear Stock Performance

Shares of CART stock opened at $43.76 on Friday. The firm has a market capitalization of $11.49 billion, a price-to-earnings ratio of 29.37, a PEG ratio of 1.19 and a beta of 1.19. The stock's 50-day simple moving average is $40.56 and its 200-day simple moving average is $43.53. Maplebear Inc. has a fifty-two week low of $29.84 and a fifty-two week high of $53.44.

Maplebear (NASDAQ:CART - Get Free Report) last issued its 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 during the quarter, compared to analysts' expectations of $896.86 million. During the same quarter last year, the business earned $0.43 EPS. The business's revenue was up 9.4% on a year-over-year basis. As a group, equities analysts forecast that Maplebear Inc. will post 1.43 earnings per share for the current 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.

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