Maplebear Inc. (NASDAQ:CART) Shares Bought by Ensign Peak Advisors Inc

Ensign Peak Advisors Inc grew its stake in Maplebear Inc. (NASDAQ:CART - Free Report) by 26.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 68,339 shares of the company's stock after acquiring an additional 14,102 shares during the period. Ensign Peak Advisors Inc's holdings in Maplebear were worth $2,831,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Jones Financial Companies Lllp boosted its stake in shares of Maplebear by 46.6% during the fourth quarter. Jones Financial Companies Lllp now owns 698 shares of the company's stock valued at $29,000 after purchasing an additional 222 shares in the last quarter. Allworth Financial LP boosted its stake in shares of Maplebear by 101.4% during the fourth 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 boosted its stake in shares of Maplebear by 277.9% during the fourth quarter. NewEdge Advisors LLC now owns 975 shares of the company's stock valued at $40,000 after purchasing an additional 717 shares in the last quarter. Anderson Financial Strategies LLC bought a new position in shares of Maplebear during the fourth quarter valued at approximately $46,000. Finally, Cullen Frost Bankers Inc. bought a new position in shares of Maplebear during the fourth quarter valued at approximately $62,000. 63.09% of the stock is currently owned by institutional investors.

Maplebear Trading Up 0.6%

CART traded up $0.28 on Monday, reaching $45.94. The stock had a trading volume of 2,397,311 shares, compared to its average volume of 4,061,560. Maplebear Inc. has a 12-month low of $29.84 and a 12-month high of $53.44. The business's 50-day moving average price is $41.16 and its two-hundred day moving average price is $43.53. The company has a market cap of $12.06 billion, a P/E ratio of 30.83, a price-to-earnings-growth ratio of 1.19 and a beta of 1.19.

Maplebear (NASDAQ:CART - Get Free Report) last released its earnings results on Thursday, May 1st. The company reported $0.37 EPS for the quarter, missing analysts' consensus estimates of $0.38 by ($0.01). The company had revenue of $897.00 million for 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 firm's revenue for the quarter was up 9.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.43 EPS. As a group, analysts predict that Maplebear Inc. will post 1.43 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. BMO Capital Markets raised their target price on shares of Maplebear from $48.00 to $49.00 and gave the company a "market perform" rating in a research note on Wednesday, February 26th. Citigroup raised their target price on shares of Maplebear from $55.00 to $57.00 and gave the company a "buy" rating in a research note on Tuesday, May 13th. Bank of America raised their target price on shares of Maplebear from $51.00 to $53.00 and gave the company a "neutral" rating in a research note on Tuesday, February 25th. Wells Fargo & Company lowered their target price on shares of Maplebear from $47.00 to $44.00 and set an "equal weight" rating for the company in a research note on Thursday, April 3rd. Finally, Macquarie restated an "outperform" rating and issued a $55.00 target price on shares of Maplebear in a research note on Tuesday, May 6th. Twelve research 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's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $51.30.

Insider Buying and Selling

In related news, CEO Fidji Simo sold 2,033 shares of the business'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 transaction, 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, General Counsel Morgan Fong sold 5,249 shares of the business'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 transaction, the general counsel now 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 disclosure for this sale can be found here. Over the last three months, insiders have sold 36,165 shares of company stock worth $1,541,785. 26.00% of the stock is owned by 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.