Investment House LLC Invests $1.10 Million in Maplebear Inc. (NASDAQ:CART)

Investment House LLC bought a new position in shares of Maplebear Inc. (NASDAQ:CART - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 46,808 shares of the company's stock, valued at approximately $1,099,000.

Several other institutional investors also recently made changes to their positions in the stock. Signaturefd LLC acquired a new stake in Maplebear in the third quarter valued at $30,000. International Assets Investment Management LLC acquired a new position in shares of Maplebear in the fourth quarter valued at approximately $110,000. Capital Investment Counsel Inc acquired a new position in Maplebear in the fourth quarter valued at $235,000. Jump Financial LLC acquired a new stake in Maplebear in the 3rd quarter worth about $245,000. Finally, Alberta Investment Management Corp purchased a new stake in Maplebear in the 3rd quarter valued at about $252,000. 63.09% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. BMO Capital Markets started coverage on shares of Maplebear in a report on Tuesday, January 9th. They set a "market perform" rating and a $26.00 price objective on the stock. Needham & Company LLC reissued a "hold" rating on shares of Maplebear in a research note on Tuesday, April 23rd. Benchmark downgraded Maplebear from a "buy" rating to a "hold" rating in a report on Tuesday, January 23rd. JPMorgan Chase & Co. lifted their target price on Maplebear from $35.00 to $45.00 and gave the company an "overweight" rating in a report on Monday, March 25th. Finally, Barclays boosted their price target on Maplebear from $40.00 to $41.00 and gave the company an "overweight" rating in a research report on Wednesday, February 14th. Ten equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $38.79.

Maplebear Price Performance

CART traded down $0.35 during trading hours on Tuesday, reaching $34.13. 4,833,512 shares of the stock traded hands, compared to its average volume of 4,069,577. Maplebear Inc. has a fifty-two week low of $22.13 and a fifty-two week high of $42.95. The firm's fifty day simple moving average is $35.33 and its two-hundred day simple moving average is $28.62.

Maplebear (NASDAQ:CART - Get Free Report) last posted its quarterly earnings results on Tuesday, February 13th. The company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.08) by $0.52. The company had revenue of $803.00 million during the quarter, compared to analyst estimates of $804.62 million. The firm's revenue was up 6.1% compared to the same quarter last year. Equities research analysts expect that Maplebear Inc. will post 0.53 EPS for the current fiscal year.

Insider Activity at Maplebear

In other Maplebear news, CFO Nick Giovanni sold 900 shares of the stock in a transaction that occurred 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 transaction, the chief financial officer now owns 591,077 shares of the company's stock, valued at approximately $20,687,695. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Maplebear news, CFO Nick Giovanni sold 900 shares of the stock in a transaction on Monday, March 11th. The shares were sold at an average price of $35.00, for a total transaction of $31,500.00. Following the sale, the chief financial officer now directly owns 591,077 shares of the company's stock, valued at $20,687,695. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Alan Ramsay sold 12,113 shares of the firm's stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $34.33, for a total transaction of $415,839.29. Following the completion of the transaction, the chief accounting officer now directly owns 114,205 shares in the company, valued at approximately $3,920,657.65. The disclosure for this sale can be found here. Over the last three months, insiders bought 2,157,745 shares of company stock valued at $61,771,955 and sold 1,027,279 shares valued at $29,422,416.

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.