71,806 Shares in Maplebear Inc. (NASDAQ:CART) Acquired by Quantbot Technologies LP

Quantbot Technologies LP purchased a new position in shares of Maplebear Inc. (NASDAQ:CART) in the 4th quarter, HoldingsChannel.com reports. The fund purchased 71,806 shares of the company’s stock, valued at approximately $2,974,000.

Other hedge funds have also added to or reduced their stakes in the company. Jones Financial Companies Lllp lifted its holdings in Maplebear by 46.6% during the 4th 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 last quarter. Wilmington Savings Fund Society FSB bought a new position in Maplebear during the 3rd quarter worth $33,000. Allworth Financial LP increased its stake in Maplebear by 101.4% during the 4th quarter. Allworth Financial LP now owns 834 shares of the company’s stock worth $37,000 after acquiring an additional 420 shares during the period. Cullen Frost Bankers Inc. bought a new position in Maplebear during the 4th quarter worth $62,000. Finally, PNC Financial Services Group Inc. increased its stake in Maplebear by 243.3% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,399 shares of the company’s stock worth $141,000 after acquiring an additional 2,409 shares during the period. 63.09% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Fidji Simo sold 2,033 shares of the business’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $40.00, for a total value of $81,320.00. Following the transaction, the chief executive officer now directly owns 1,654,559 shares of the company’s stock, valued at $66,182,360. The trade was a 0.12 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Alan Ramsay sold 2,314 shares of the business’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $46.28, for a total value of $107,091.92. Following the completion of the transaction, the chief accounting officer now directly owns 85,421 shares in the company, valued at $3,953,283.88. This represents a 2.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 25,097 shares of company stock valued at $1,087,094 in the last ninety days. 36.00% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on CART shares. Loop Capital lowered their price objective on Maplebear from $56.00 to $52.00 and set a “buy” rating on the stock in a research note on Thursday, March 6th. Morgan Stanley lifted their price target on Maplebear from $44.00 to $45.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 26th. Wells Fargo & Company assumed coverage on Maplebear in a research note on Friday, January 10th. They issued an “equal weight” rating and a $47.00 price target on the stock. Bank of America lifted their price target on Maplebear from $51.00 to $53.00 and gave the company a “neutral” rating in a research note on Tuesday, February 25th. Finally, Barclays lifted their price target on Maplebear from $56.00 to $58.00 and gave the company an “overweight” rating in a research note on Wednesday, February 26th. Thirteen 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. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $50.52.

Maplebear Trading Down 0.1 %

Shares of CART opened at $38.90 on Friday. The company has a market capitalization of $10.29 billion, a PE ratio of 26.11, a PEG ratio of 1.19 and a beta of 1.34. Maplebear Inc. has a 12 month low of $29.84 and a 12 month high of $53.44. The stock’s 50-day moving average price is $45.10 and its two-hundred day moving average price is $43.27.

Maplebear (NASDAQ:CART) last announced its earnings results on Tuesday, February 25th. The company reported $0.53 EPS for the quarter, topping the consensus estimate of $0.37 by $0.16. The firm had revenue of $883.00 million for the quarter, compared to the consensus estimate of $889.98 million. Maplebear had a return on equity of 13.78% and a net margin of 13.37%. Equities research analysts predict that Maplebear Inc. will post 1.43 EPS 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.