Shay Capital LLC Makes New Investment in Maplebear Inc. (NASDAQ:CART)

Shay Capital LLC acquired a new stake in shares of Maplebear Inc. (NASDAQ:CART - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 10,000 shares of the company's stock, valued at approximately $414,000.

A number of other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. grew its position in shares of Maplebear by 16.8% during the 4th quarter. Vanguard Group Inc. now owns 15,968,358 shares of the company's stock valued at $661,409,000 after acquiring an additional 2,300,288 shares during the period. T. Rowe Price Investment Management Inc. grew its position in shares of Maplebear by 15.5% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 4,744,652 shares of the company's stock valued at $196,524,000 after acquiring an additional 635,930 shares during the period. Victory Capital Management Inc. grew its position in shares of Maplebear by 11,501.2% during the 4th quarter. Victory Capital Management Inc. now owns 4,526,673 shares of the company's stock valued at $187,495,000 after acquiring an additional 4,487,654 shares during the period. Jacobs Levy Equity Management Inc. grew its position in shares of Maplebear by 85.0% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 3,081,847 shares of the company's stock valued at $127,650,000 after acquiring an additional 1,416,426 shares during the period. Finally, Boston Partners acquired a new stake in shares of Maplebear during the 4th quarter valued at about $111,506,000. Hedge funds and other institutional investors own 63.09% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. JMP Securities restated a "market outperform" rating and set a $55.00 target price on shares of Maplebear in a research report on Friday, April 11th. Stifel Nicolaus dropped their target price on Maplebear from $57.00 to $54.00 and set a "buy" rating on the stock in a research report on Wednesday, April 23rd. Morgan Stanley raised their target price on Maplebear from $44.00 to $45.00 and gave the company an "equal weight" rating in a research report on Wednesday, February 26th. Mizuho dropped their target price on Maplebear from $55.00 to $52.00 and set an "outperform" rating on the stock in a research report on Wednesday, February 26th. Finally, Wedbush lowered their price objective on Maplebear from $48.00 to $46.00 and set a "neutral" rating on the stock in a report on Wednesday, February 26th. Twelve research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Maplebear currently has an average rating of "Moderate Buy" and an average target price of $51.30.

Insider Activity

In other Maplebear news, CEO Fidji Simo sold 20,750 shares of Maplebear stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $43.31, for a total value of $898,682.50. Following the transaction, the chief executive officer now owns 1,662,692 shares in the company, valued at $72,011,190.52. This trade represents a 1.23% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Morgan Fong sold 5,249 shares of Maplebear stock in a transaction on 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 approximately $20,616,310.44. This trade represents a 1.07% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 36,165 shares of company stock worth $1,541,785 over the last ninety days. 26.00% of the stock is currently owned by insiders.

Maplebear Price Performance

Maplebear stock traded up $1.17 during mid-day trading on Tuesday, reaching $47.11. The company had a trading volume of 3,632,224 shares, compared to its average volume of 4,051,579. Maplebear Inc. has a 1 year low of $29.84 and a 1 year high of $53.44. The company has a market capitalization of $12.37 billion, a P/E ratio of 31.62, a P/E/G ratio of 1.19 and a beta of 1.19. The stock's 50-day simple moving average is $41.31 and its 200-day simple moving average is $43.54.

Maplebear (NASDAQ:CART - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The company reported $0.37 EPS for the quarter, missing the consensus estimate of $0.38 by ($0.01). The business 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 firm's revenue for the quarter was up 9.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.43 earnings per share. On average, equities analysts forecast that Maplebear Inc. will post 1.43 EPS for the current fiscal year.

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.