Maplebear Inc. (NASDAQ:CART) Shares Bought by Price T Rowe Associates Inc. MD

Price T Rowe Associates Inc. MD boosted its stake in Maplebear Inc. (NASDAQ:CART - Free Report) by 25.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,221,676 shares of the company's stock after buying an additional 249,259 shares during the period. Price T Rowe Associates Inc. MD owned approximately 0.48% of Maplebear worth $50,603,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. Jones Financial Companies Lllp lifted its holdings in shares of Maplebear by 46.6% in the 4th quarter. Jones Financial Companies Lllp now owns 698 shares of the company's stock worth $29,000 after acquiring an additional 222 shares during the last quarter. Allworth Financial LP lifted its stake in Maplebear by 101.4% during the fourth quarter. Allworth Financial LP now owns 834 shares of the company's stock worth $37,000 after purchasing an additional 420 shares in the last quarter. CIBC Asset Management Inc grew its stake in shares of Maplebear by 5.4% in the fourth quarter. CIBC Asset Management Inc now owns 8,554 shares of the company's stock valued at $354,000 after buying an additional 440 shares in the last quarter. NewEdge Advisors LLC raised its holdings in shares of Maplebear by 277.9% in the 4th quarter. NewEdge Advisors LLC now owns 975 shares of the company's stock valued at $40,000 after buying an additional 717 shares during the period. Finally, Wilmington Savings Fund Society FSB purchased a new position in Maplebear during the 3rd quarter valued at about $33,000. Institutional investors and hedge funds own 63.09% of the company's stock.

Insider Buying and Selling at Maplebear

In other 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 $66,182,360. The trade was a 0.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, General Counsel Morgan Fong sold 5,249 shares of the firm'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 sale, 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 position. The disclosure for this sale can be found here. In the last three months, insiders have sold 36,165 shares of company stock valued at $1,541,785. 26.00% of the stock is owned by company insiders.

Maplebear Stock Performance

Maplebear stock traded up $5.42 during midday trading on Friday, hitting $45.22. 12,363,136 shares of the company's stock were exchanged, compared to its average volume of 4,115,105. The stock has a market cap of $11.87 billion, a price-to-earnings ratio of 30.35, a price-to-earnings-growth ratio of 1.19 and a beta of 1.19. Maplebear Inc. has a 12-month low of $29.84 and a 12-month high of $53.44. The firm's 50 day simple moving average is $40.10 and its 200 day simple moving average is $43.46.

Maplebear (NASDAQ:CART - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The company reported $0.37 earnings per share (EPS) 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 analyst estimates of $896.86 million. Maplebear had a net margin of 13.37% and a return on equity of 13.78%. The business's revenue was up 9.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.43 EPS. On average, equities research analysts forecast that Maplebear Inc. will post 1.43 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently issued reports on CART shares. Cantor Fitzgerald reissued an "overweight" rating and set a $55.00 price target on shares of Maplebear in a research report on Wednesday, February 26th. Morgan Stanley raised their price target 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. BMO Capital Markets upped their price objective on Maplebear from $48.00 to $49.00 and gave the stock a "market perform" rating in a research report on Wednesday, February 26th. Benchmark reiterated a "hold" rating on shares of Maplebear in a report on Wednesday, February 26th. Finally, FBN Securities assumed coverage on Maplebear in a report on Friday, March 28th. They set a "sector perform" rating and a $44.00 price target on the stock. Twelve research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Maplebear presently has an average rating of "Moderate Buy" and a consensus price target of $50.61.

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.