Maplebear Inc. (NASDAQ:CART) Stock Position Lifted by Ensign Peak Advisors Inc

Ensign Peak Advisors Inc lifted its holdings in Maplebear Inc. (NASDAQ:CART) by 26.0% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 68,339 shares of the company’s stock after purchasing an additional 14,102 shares during the quarter. Ensign Peak Advisors Inc’s holdings in Maplebear were worth $2,831,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Ethic Inc. grew its stake in shares of Maplebear by 145.6% in the fourth quarter. Ethic Inc. now owns 26,151 shares of the company’s stock worth $1,083,000 after purchasing an additional 15,505 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its stake in shares of Maplebear by 106.9% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 88,551 shares of the company’s stock worth $3,668,000 after purchasing an additional 45,760 shares in the last quarter. Cetera Investment Advisers grew its stake in shares of Maplebear by 61.4% in the fourth quarter. Cetera Investment Advisers now owns 8,144 shares of the company’s stock worth $337,000 after purchasing an additional 3,097 shares in the last quarter. Bridgeway Capital Management LLC bought a new position in shares of Maplebear in the fourth quarter worth $2,386,000. Finally, Brevan Howard Capital Management LP bought a new position in Maplebear during the fourth quarter valued at about $3,042,000. Institutional investors own 63.09% of the company’s stock.

Maplebear Stock Performance

Shares of NASDAQ CART opened at $44.12 on Friday. The firm has a market cap of $11.58 billion, a price-to-earnings ratio of 29.61, a P/E/G ratio of 1.19 and a beta of 1.19. The business’s 50-day simple moving average is $41.01 and its 200-day simple moving average is $43.53. Maplebear Inc. has a 52 week low of $29.84 and a 52 week high of $53.44.

Maplebear (NASDAQ:CART) last released its earnings results on Thursday, May 1st. The company reported $0.37 earnings per share (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 analyst estimates of $896.86 million. Maplebear had a net margin of 13.37% and a return on equity of 13.78%. The business’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same period last year, the business earned $0.43 EPS. As a group, equities research analysts forecast that Maplebear Inc. will post 1.43 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Stifel Nicolaus decreased their target price on Maplebear from $57.00 to $54.00 and set a “buy” rating for the company in a research note on Wednesday, April 23rd. Bank of America raised their target price on Maplebear from $51.00 to $53.00 and gave the company a “neutral” rating in a research note on Tuesday, February 25th. Mizuho decreased their target price on Maplebear from $55.00 to $52.00 and set an “outperform” rating for the company in a research note on Wednesday, February 26th. Wells Fargo & Company decreased their target price on Maplebear from $47.00 to $44.00 and set an “equal weight” rating for the company in a research note on Thursday, April 3rd. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $56.00 target price on shares of Maplebear in a research note on Friday, May 2nd. Twelve analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Maplebear presently has a consensus rating of “Moderate Buy” and a consensus price target of $51.04.

Insider Buying and Selling at Maplebear

In other Maplebear news, General Counsel Morgan Fong sold 5,249 shares of the firm’s 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 in the company, valued at approximately $20,616,310.44. This trade represents a 1.07% decrease in their position. 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 8,133 shares of the firm’s stock in a transaction that occurred on Monday, April 14th. The stock was sold at an average price of $41.60, for a total value of $338,332.80. Following the transaction, the chief executive officer now owns 1,646,426 shares of the company’s stock, valued at $68,491,321.60. This trade represents a 0.49% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 36,165 shares of company stock valued at $1,541,785 in the last 90 days. 26.00% of the stock is currently 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.