Sora Investors LLC Takes Position in Maplebear Inc. (NASDAQ:CART)

Sora Investors LLC acquired a new position in shares of Maplebear Inc. (NASDAQ:CART - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 74,981 shares of the company's stock, valued at approximately $3,106,000.

A number of other institutional investors have also added to or reduced their stakes in the stock. Rafferty Asset Management LLC purchased a new stake in Maplebear during the 4th quarter worth about $413,000. Rip Road Capital Partners LP lifted its holdings in Maplebear by 11.3% during the 4th quarter. Rip Road Capital Partners LP now owns 134,793 shares of the company's stock worth $5,583,000 after purchasing an additional 13,700 shares in the last quarter. Quantedge Capital Pte Ltd purchased a new stake in Maplebear during the 4th quarter worth about $6,428,000. Quantinno Capital Management LP purchased a new stake in Maplebear during the 4th quarter worth about $12,835,000. Finally, Man Group plc purchased a new stake in shares of Maplebear in the 4th quarter valued at about $15,023,000. Hedge funds and other institutional investors own 63.09% of the company's stock.

Wall Street Analysts Forecast Growth

CART has been the topic of several recent analyst reports. Morgan Stanley raised their price target on Maplebear from $44.00 to $45.00 and gave the company an "equal weight" rating in a report on Wednesday, February 26th. Benchmark reaffirmed a "hold" rating on shares of Maplebear in a report on Wednesday, February 26th. Loop Capital raised their price target on Maplebear from $52.00 to $58.00 and gave the company a "buy" rating in a report on Monday. JMP Securities reaffirmed a "market outperform" rating and issued a $55.00 price target on shares of Maplebear in a report on Friday, April 11th. Finally, Citigroup raised their price target on Maplebear from $55.00 to $57.00 and gave the company a "buy" rating in a report on Tuesday, May 13th. Twelve analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $51.30.

Maplebear Stock Performance

CART traded up $0.28 on Monday, hitting $45.94. 2,397,311 shares of the company were exchanged, compared to its average volume of 4,061,561. The firm has a fifty day simple moving average of $41.16 and a two-hundred day simple moving average of $43.53. Maplebear Inc. has a 12 month low of $29.84 and a 12 month high of $53.44. The stock has a market capitalization of $12.06 billion, a PE 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 posted 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). Maplebear had a return on equity of 13.78% and a net margin of 13.37%. The company had revenue of $897.00 million for the quarter, compared to the consensus estimate of $896.86 million. During the same quarter in the previous year, the business earned $0.43 earnings per share. Maplebear's revenue was up 9.4% compared to the same quarter last year. On average, equities analysts expect that Maplebear Inc. will post 1.43 earnings per share for the current year.

Insider Buying and Selling

In other Maplebear news, CEO Fidji Simo sold 20,750 shares of the stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $43.31, for a total value of $898,682.50. Following the completion of the sale, the chief executive officer now owns 1,662,692 shares in the company, valued at approximately $72,011,190.52. This trade represents a 1.23% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, General Counsel Morgan Fong sold 5,249 shares of the stock in a transaction that occurred on Monday, April 21st. The stock was sold at an average price of $42.57, for a total value 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. This trade represents a 1.07% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 36,165 shares of company stock worth $1,541,785 in the last ninety days. 26.00% of the stock is owned by insiders.

Maplebear Company 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.