Voleon Capital Management LP Invests $5.47 Million in Maplebear Inc. (NASDAQ:CART)

Voleon Capital Management LP bought a new stake in Maplebear Inc. (NASDAQ:CART - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 131,958 shares of the company's stock, valued at approximately $5,466,000. Voleon Capital Management LP owned approximately 0.05% of Maplebear as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Jones Financial Companies Lllp increased its position in Maplebear by 46.6% in the fourth quarter. Jones Financial Companies Lllp now owns 698 shares of the company's stock worth $29,000 after purchasing an additional 222 shares during the period. Wilmington Savings Fund Society FSB bought a new stake in shares of Maplebear during the third quarter worth approximately $33,000. Allworth Financial LP lifted 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 buying an additional 420 shares during the period. NewEdge Advisors LLC lifted 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 buying an additional 717 shares during the period. Finally, Cullen Frost Bankers Inc. bought a new position in Maplebear in the fourth quarter valued at approximately $62,000. 63.09% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CART has been the subject of several recent research reports. Macquarie upped their target price on shares of Maplebear from $52.00 to $55.00 and gave the company an "outperform" rating in a research report on Thursday, February 27th. Barclays increased their target price on Maplebear from $58.00 to $61.00 and gave the company an "overweight" rating in a research note on Friday. FBN Securities assumed coverage on Maplebear in a research report on Friday, March 28th. They set a "sector perform" rating and a $44.00 target price for the company. Benchmark reiterated a "hold" rating on shares of Maplebear in a research report on Wednesday, February 26th. Finally, Needham & Company LLC restated a "buy" rating and set a $56.00 price objective on shares of Maplebear in a report on Friday. Twelve equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $50.61.

Insider Transactions at Maplebear

In other Maplebear news, CEO Fidji Simo sold 2,033 shares of the 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 sale, the chief executive officer now directly owns 1,654,559 shares in the company, valued at $66,182,360. This represents a 0.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 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 value 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. The trade was 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 in the last ninety days. Insiders own 26.00% of the company's stock.

Maplebear Stock Up 13.6 %

Shares of NASDAQ:CART traded up $5.42 during midday trading on Friday, reaching $45.22. The company had a trading volume of 12,363,136 shares, compared to its average volume of 4,115,105. The business's 50 day moving average price is $40.10 and its 200 day moving average price is $43.46. Maplebear Inc. has a 1-year low of $29.84 and a 1-year high of $53.44. The stock has a market cap of $11.87 billion, a PE ratio of 30.35, a P/E/G ratio of 1.19 and a beta of 1.19.

Maplebear (NASDAQ:CART - Get Free Report) last released its earnings results on Thursday, May 1st. The company reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.38 by ($0.01). Maplebear had a net margin of 13.37% and a return on equity of 13.78%. The firm had revenue of $897.00 million during the quarter, compared to the consensus estimate of $896.86 million. During the same period in the prior year, the business posted $0.43 earnings per share. Maplebear's quarterly revenue was up 9.4% compared to the same quarter last year. On average, research analysts expect that Maplebear Inc. will post 1.43 earnings per share for the current fiscal year.

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.