Mackenzie Financial Corp Makes New Investment in Maplebear Inc. (NASDAQ:CART)

Mackenzie Financial Corp bought a new position in Maplebear Inc. (NASDAQ:CART - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 349,720 shares of the company's stock, valued at approximately $8,208,000. Mackenzie Financial Corp owned 0.12% of Maplebear as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Signaturefd LLC purchased a new stake in shares of Maplebear in the 3rd quarter valued at about $30,000. UBS Group AG purchased a new position in shares of Maplebear during the 3rd quarter valued at about $56,000. California State Teachers Retirement System purchased a new position in shares of Maplebear during the 3rd quarter valued at about $74,000. Legal & General Group Plc purchased a new position in shares of Maplebear during the 3rd quarter valued at about $74,000. Finally, International Assets Investment Management LLC purchased a new position in shares of Maplebear during the 4th quarter valued at about $110,000. Hedge funds and other institutional investors own 63.09% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on CART shares. Moffett Nathanson reissued a "neutral" rating and set a $37.00 price objective (up from $36.00) on shares of Maplebear in a report on Thursday, April 11th. Wedbush decreased their price objective on Maplebear from $30.00 to $26.00 and set a "neutral" rating on the stock in a report on Wednesday, December 27th. Morgan Stanley initiated coverage on Maplebear in a research note on Tuesday, January 30th. They issued an "equal weight" rating and a $28.00 price target on the stock. Benchmark cut Maplebear from a "buy" rating to a "hold" rating in a research note on Tuesday, January 23rd. Finally, Wolfe Research lifted their price target on Maplebear from $35.00 to $39.00 and gave the stock an "outperform" rating in a research note on Tuesday, March 5th. Ten analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $38.16.

Maplebear Price Performance

Shares of CART stock traded down $1.17 during trading hours on Friday, reaching $35.23. The company's stock had a trading volume of 5,889,022 shares, compared to its average volume of 2,817,849. Maplebear Inc. has a one year low of $22.13 and a one year high of $42.95. The firm's fifty day simple moving average is $34.42 and its 200 day simple moving average is $28.23.

Maplebear (NASDAQ:CART - Get Free Report) last issued its quarterly earnings data on Tuesday, February 13th. The company reported $0.44 earnings per share for the quarter, topping analysts' consensus estimates of ($0.08) by $0.52. The business had revenue of $803.00 million during the quarter, compared to the consensus estimate of $804.62 million. The company's quarterly revenue was up 6.1% on a year-over-year basis. On average, equities research analysts anticipate that Maplebear Inc. will post 0.53 earnings per share for the current year.

Insider Activity at Maplebear

In other news, major shareholder Us (Ttgp) Ltd. Sc purchased 1,036,683 shares of the company's stock in a transaction that occurred on Tuesday, February 20th. The shares were bought at an average cost of $27.90 per share, for a total transaction of $28,923,455.70. Following the completion of the transaction, the insider now directly owns 1,036,683 shares of the company's stock, valued at approximately $28,923,455.70. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Maplebear news, CFO Nick Giovanni sold 900 shares of Maplebear stock in a transaction on Monday, March 11th. The stock was sold at an average price of $35.00, for a total transaction of $31,500.00. Following the completion of the transaction, the chief financial officer now owns 591,077 shares in the company, valued at $20,687,695. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Us (Ttgp) Ltd. Sc acquired 1,036,683 shares of the stock in a transaction on Tuesday, February 20th. The shares were bought at an average price of $27.90 per share, with a total value of $28,923,455.70. Following the purchase, the insider now directly owns 1,036,683 shares of the company's stock, valued at approximately $28,923,455.70. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 2,157,745 shares of company stock worth $61,771,955 and have sold 1,008,592 shares worth $28,770,988. 4.02% of the stock is currently owned by corporate insiders.

About Maplebear

Maplebear Inc, doing business as Instacart, provides online grocery shopping services to households in North America. It sells and delivers grocery products. The company offers its services through a mobile application and website. It also provides software-as-a-service solutions to retailers. The company was incorporated in 2012 and is based in San Francisco, California.