Canada Pension Plan Investment Board Has $10.10 Million Stock Position in Maplebear Inc. (NASDAQ:CART)

Canada Pension Plan Investment Board grew its position in Maplebear Inc. (NASDAQ:CART - Free Report) by 82.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 243,800 shares of the company's stock after purchasing an additional 110,300 shares during the quarter. Canada Pension Plan Investment Board owned approximately 0.09% of Maplebear worth $10,098,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of CART. Jones Financial Companies Lllp increased its holdings 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 purchasing an additional 222 shares during the period. Wilmington Savings Fund Society FSB bought a new stake in Maplebear during the third quarter worth about $33,000. Allworth Financial LP increased its holdings in Maplebear by 101.4% during the 4th quarter. Allworth Financial LP now owns 834 shares of the company's stock valued at $37,000 after purchasing an additional 420 shares in the last quarter. NewEdge Advisors LLC increased its stake in shares of Maplebear by 277.9% in the fourth quarter. NewEdge Advisors LLC now owns 975 shares of the company's stock valued at $40,000 after buying an additional 717 shares in the last quarter. Finally, Cullen Frost Bankers Inc. bought a new position in shares of Maplebear in the fourth quarter worth about $62,000. 63.09% of the stock is currently owned by institutional investors and hedge funds.

Maplebear Price Performance

Shares of CART traded up $0.25 during mid-day trading on Friday, hitting $41.91. 2,619,129 shares of the company's stock were exchanged, compared to its average volume of 4,060,172. Maplebear Inc. has a 52 week low of $29.84 and a 52 week high of $53.44. The company has a market cap of $11.00 billion, a PE ratio of 28.13, a P/E/G ratio of 1.19 and a beta of 1.20. The company has a 50-day simple moving average of $41.13 and a 200 day simple moving average of $43.54.

Maplebear (NASDAQ:CART - Get Free Report) last released its earnings results on Tuesday, February 25th. The company reported $0.53 earnings per share for the quarter, beating analysts' consensus estimates of $0.37 by $0.16. Maplebear had a net margin of 13.37% and a return on equity of 13.78%. The business had revenue of $883.00 million during the quarter, compared to the consensus estimate of $889.98 million. On average, analysts anticipate that Maplebear Inc. will post 1.43 earnings per share for the current year.

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 value 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 $20,616,310.44. This trade represents a 1.07 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, 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 transaction of $81,320.00. Following the completion of the sale, the chief executive officer now directly owns 1,654,559 shares in the company, valued at approximately $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. Over the last quarter, insiders have sold 36,165 shares of company stock valued at $1,541,785. 26.00% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

CART has been the subject of several research analyst reports. Benchmark restated a "hold" rating on shares of Maplebear in a research report on Wednesday, February 26th. BMO Capital Markets raised their price target on 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 target price 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. Needham & Company LLC reissued a "buy" rating and set a $56.00 price target on shares of Maplebear in a research note on Wednesday, February 26th. Finally, JMP Securities reaffirmed a "market outperform" rating and issued a $55.00 price objective on shares of Maplebear in a research note on Friday, April 11th. Twelve research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Maplebear has a consensus rating of "Moderate Buy" and a consensus target price of $50.48.

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.