T. Rowe Price Investment Management Inc. Has $196.52 Million Position in Maplebear Inc. (NASDAQ:CART)

T. Rowe Price Investment Management Inc. raised its stake in Maplebear Inc. (NASDAQ:CART - Free Report) by 15.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,744,652 shares of the company's stock after acquiring an additional 635,930 shares during the period. T. Rowe Price Investment Management Inc. owned 1.85% of Maplebear worth $196,524,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also made changes to their positions in the company. Jones Financial Companies Lllp grew its holdings in Maplebear by 46.6% during the fourth 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 period. Allworth Financial LP grew its holdings in Maplebear by 101.4% in the fourth quarter. Allworth Financial LP now owns 834 shares of the company's stock valued at $37,000 after purchasing an additional 420 shares during the last quarter. CIBC Asset Management Inc grew its holdings in 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 purchasing an additional 440 shares during the last quarter. NewEdge Advisors LLC grew its holdings in Maplebear by 277.9% in the fourth quarter. NewEdge Advisors LLC now owns 975 shares of the company's stock valued at $40,000 after purchasing an additional 717 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB acquired a new stake in Maplebear in the third quarter valued at $33,000. Institutional investors and hedge funds own 63.09% of the company's stock.

Insiders Place Their Bets

In other news, General Counsel Morgan Fong sold 5,249 shares of Maplebear stock in a transaction on Monday, April 21st. The stock was 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. This trade represents a 1.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 completion of the sale, the chief executive officer now directly owns 1,654,559 shares of the company's stock, valued at approximately $66,182,360. The trade was a 0.12 % decrease in their position. The disclosure for this sale can be found here. Insiders 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 corporate insiders.

Maplebear Stock Up 0.8 %

NASDAQ CART traded up $0.30 on Tuesday, reaching $40.22. The company had a trading volume of 979,611 shares, compared to its average volume of 4,051,699. The stock's 50 day moving average is $40.86 and its 200-day moving average is $43.51. The stock has a market cap of $10.56 billion, a price-to-earnings ratio of 27.00, a PEG ratio of 1.19 and a beta of 1.20. Maplebear Inc. has a 52 week low of $29.84 and a 52 week high of $53.44.

Maplebear (NASDAQ:CART - Get Free Report) last released its quarterly earnings data on Tuesday, February 25th. The company reported $0.53 EPS for the quarter, beating analysts' consensus estimates of $0.37 by $0.16. Maplebear had a return on equity of 13.78% and a net margin of 13.37%. The business had revenue of $883.00 million during the quarter, compared to the consensus estimate of $889.98 million. As a group, analysts forecast that Maplebear Inc. will post 1.43 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on CART shares. Wedbush reduced their price objective on Maplebear from $48.00 to $46.00 and set a "neutral" rating on the stock in a research report on Wednesday, February 26th. JMP Securities reissued a "market outperform" rating and set a $55.00 target price on shares of Maplebear in a report on Friday, April 11th. BMO Capital Markets increased their target price on shares of Maplebear from $48.00 to $49.00 and gave the stock a "market perform" rating in a report on Wednesday, February 26th. Morgan Stanley upped their price target on shares of Maplebear from $44.00 to $45.00 and gave the stock an "equal weight" rating in a research report on Wednesday, February 26th. Finally, Seaport Res Ptn upgraded shares of Maplebear to a "strong-buy" rating in a research report on Wednesday, February 12th. Twelve analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Maplebear has a consensus rating of "Moderate Buy" and a consensus target price of $50.48.

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.