Maplebear Inc. (NASDAQ:CART) Shares Bought by Gotham Asset Management LLC

Gotham Asset Management LLC grew its holdings in Maplebear Inc. (NASDAQ:CART) by 3.3% in the 4th quarter, Holdings Channel reports. The institutional investor owned 300,620 shares of the company’s stock after buying an additional 9,646 shares during the quarter. Gotham Asset Management LLC’s holdings in Maplebear were worth $12,452,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of CART. 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 valued at $29,000 after buying an additional 222 shares during the period. Wilmington Savings Fund Society FSB purchased a new position in Maplebear in the 3rd quarter valued at approximately $33,000. Allworth Financial LP increased its stake in Maplebear by 101.4% in the 4th quarter. Allworth Financial LP now owns 834 shares of the company’s stock valued at $37,000 after purchasing an additional 420 shares in the last quarter. NewEdge Advisors LLC increased its stake in 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 purchasing an additional 717 shares in the last quarter. Finally, Anderson Financial Strategies LLC purchased a new position in Maplebear in the 4th quarter valued at approximately $46,000. 63.09% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related 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 value of $223,449.93. Following 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Fidji Simo sold 2,033 shares of Maplebear stock in a transaction on Monday, March 17th. The shares were sold at an average price of $40.00, for a total value of $81,320.00. Following the completion of the transaction, the chief executive officer now owns 1,654,559 shares in the company, valued at $66,182,360. The trade was a 0.12% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 36,165 shares of company stock valued at $1,541,785 over the last quarter. Company insiders own 26.00% of the company’s stock.

Analysts Set New Price Targets

CART has been the subject of several research analyst reports. BMO Capital Markets raised their price objective on Maplebear from $48.00 to $49.00 and gave the company a “market perform” rating in a research note on Wednesday, February 26th. Macquarie reaffirmed an “outperform” rating and issued a $55.00 price objective on shares of Maplebear in a research note on Tuesday, May 6th. Morgan Stanley raised their price objective on Maplebear from $44.00 to $45.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 26th. Seaport Res Ptn raised Maplebear to a “strong-buy” rating in a research note on Wednesday, February 12th. Finally, Stifel Nicolaus dropped their price objective on Maplebear from $57.00 to $54.00 and set a “buy” rating for the company in a research note on Wednesday, April 23rd. Twelve investment 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 stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $50.61.

Maplebear Stock Up 1.9%

Shares of NASDAQ:CART opened at $43.76 on Monday. The company has a market cap of $11.49 billion, a P/E ratio of 29.37, a P/E/G ratio of 1.19 and a beta of 1.19. Maplebear Inc. has a 52 week low of $29.84 and a 52 week high of $53.44. The business has a fifty day simple moving average of $40.56 and a 200-day simple moving average of $43.53.

Maplebear (NASDAQ:CART) last announced its quarterly earnings data on Thursday, May 1st. The company reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.01). The business had revenue of $897.00 million during the quarter, compared to analysts’ expectations of $896.86 million. Maplebear had a net margin of 13.37% and a return on equity of 13.78%. Maplebear’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.43 EPS. Sell-side analysts expect that Maplebear Inc. will post 1.43 earnings per share 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.