Jasper Ridge Partners L.P. Increases Holdings in Maplebear Inc. (NASDAQ:CART)

Jasper Ridge Partners L.P. lifted its position in Maplebear Inc. (NASDAQ:CART - Free Report) by 33.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 75,986 shares of the company's stock after purchasing an additional 19,019 shares during the quarter. Jasper Ridge Partners L.P.'s holdings in Maplebear were worth $3,147,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in CART. Janney Montgomery Scott LLC raised its position in shares of Maplebear by 212.1% during the 4th quarter. Janney Montgomery Scott LLC now owns 23,938 shares of the company's stock valued at $992,000 after buying an additional 16,267 shares in the last quarter. Cherry Creek Investment Advisors Inc. purchased a new stake in Maplebear during the fourth quarter valued at about $235,000. US Bancorp DE lifted its stake in Maplebear by 22.3% during the fourth quarter. US Bancorp DE now owns 13,077 shares of the company's stock worth $542,000 after purchasing an additional 2,387 shares during the last quarter. Nordea Investment Management AB bought a new position in shares of Maplebear during the 4th quarter valued at about $2,078,000. Finally, Commonwealth Equity Services LLC bought a new position in shares of Maplebear during the 4th quarter valued at about $234,000. Institutional investors own 63.09% of the company's stock.

Maplebear Price Performance

NASDAQ CART traded down $0.11 during trading hours on Wednesday, reaching $44.21. 365,687 shares of the company's stock traded hands, compared to its average volume of 4,084,834. Maplebear Inc. has a 52-week low of $29.84 and a 52-week high of $53.44. The firm has a 50-day simple moving average of $40.79 and a 200 day simple moving average of $43.52. The firm has a market cap of $11.60 billion, a PE ratio of 29.64, a PEG ratio of 1.19 and a beta of 1.19.

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

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. BTIG Research raised shares of Maplebear from a "neutral" rating to a "buy" rating and set a $58.00 target price on the stock in a report on Tuesday, January 14th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $55.00 price objective on shares of Maplebear in a report on Wednesday, February 26th. Citigroup boosted their target price on Maplebear from $55.00 to $57.00 and gave the company a "buy" rating in a research note on Tuesday. Wedbush reduced their price target on Maplebear from $48.00 to $46.00 and set a "neutral" rating on the stock in a research report on Wednesday, February 26th. Finally, FBN Securities assumed coverage on Maplebear in a research report on Friday, March 28th. They issued a "sector perform" rating and a $44.00 price objective for the company. Twelve analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $51.04.

Insider Activity

In related news, CEO Fidji Simo sold 20,750 shares of the firm's stock in a transaction that occurred on 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 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Morgan Fong sold 5,249 shares of the business's stock in a transaction that occurred on Monday, April 21st. The stock was sold at an average price of $42.57, for a total transaction of $223,449.93. Following the completion of the transaction, 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 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 three months. 26.00% of the stock is currently owned by corporate insiders.

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.