Maplebear Inc. (NASDAQ:CART) Shares Bought by Alliancebernstein L.P.

Alliancebernstein L.P. boosted its stake in shares of Maplebear Inc. (NASDAQ:CART) by 343.6% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 371,140 shares of the company’s stock after purchasing an additional 287,477 shares during the period. Alliancebernstein L.P. owned approximately 0.14% of Maplebear worth $15,373,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. Stifel Financial Corp increased its holdings in shares of Maplebear by 10.3% during the 3rd quarter. Stifel Financial Corp now owns 25,561 shares of the company’s stock valued at $1,041,000 after purchasing an additional 2,386 shares in the last quarter. State Street Corp grew its position in Maplebear by 48.3% during the third quarter. State Street Corp now owns 2,552,617 shares of the company’s stock valued at $103,994,000 after buying an additional 831,795 shares during the period. XTX Topco Ltd purchased a new position in Maplebear in the third quarter valued at $977,000. Geode Capital Management LLC raised its position in shares of Maplebear by 151.7% in the third quarter. Geode Capital Management LLC now owns 2,732,738 shares of the company’s stock worth $111,361,000 after acquiring an additional 1,647,081 shares during the period. Finally, Coldstream Capital Management Inc. boosted its stake in shares of Maplebear by 1.6% during the 3rd quarter. Coldstream Capital Management Inc. now owns 31,745 shares of the company’s stock worth $1,294,000 after acquiring an additional 490 shares in the last quarter. Hedge funds and other institutional investors own 63.09% of the company’s stock.

Insider Activity

In other Maplebear news, CAO Alan Ramsay sold 2,314 shares of Maplebear stock in a transaction dated Tuesday, January 21st. The stock was 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 of the company’s stock, valued at $3,953,283.88. The trade was a 2.64 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Fidji Simo sold 20,750 shares of the stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $43.31, for a total transaction of $898,682.50. Following the sale, the chief executive officer now directly owns 1,662,692 shares in the company, valued at $72,011,190.52. This represents a 1.23 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 25,097 shares of company stock valued at $1,087,094. Company insiders own 36.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the company. FBN Securities assumed coverage on Maplebear in a report on Friday, March 28th. They issued a “sector perform” rating and a $44.00 price target for the company. JPMorgan Chase & Co. dropped their price target on shares of Maplebear from $50.00 to $44.00 and set an “overweight” rating on the stock in a research note on Tuesday. BTIG Research upgraded shares of Maplebear from a “neutral” rating to a “buy” rating and set a $58.00 price objective for the company in a research report on Tuesday, January 14th. Wedbush dropped their target price on shares of Maplebear from $48.00 to $46.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 26th. Finally, 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. Thirteen investment 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’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $49.88.

Maplebear Stock Performance

CART opened at $37.12 on Wednesday. The stock has a market capitalization of $9.82 billion, a PE ratio of 24.91, a P/E/G ratio of 1.19 and a beta of 1.20. Maplebear Inc. has a one year low of $29.84 and a one year high of $53.44. The business’s 50 day moving average price is $43.40 and its 200 day moving average price is $43.50.

Maplebear (NASDAQ:CART) last announced its quarterly earnings results on Tuesday, February 25th. The company reported $0.53 EPS for the quarter, beating the consensus estimate of $0.37 by $0.16. The business had revenue of $883.00 million for the quarter, compared to analyst estimates of $889.98 million. Maplebear had a return on equity of 13.78% and a net margin of 13.37%. As a group, equities research analysts forecast 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.