BI Asset Management Fondsmaeglerselskab A S Invests $2.17 Million in Maplebear Inc. (NASDAQ:CART)

BI Asset Management Fondsmaeglerselskab A S purchased a new position in Maplebear Inc. (NASDAQ:CART) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 52,420 shares of the company’s stock, valued at approximately $2,171,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Jones Financial Companies Lllp lifted its stake in Maplebear by 46.6% in 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 in the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of Maplebear in the third quarter valued at approximately $33,000. Allworth Financial LP boosted its stake in Maplebear by 101.4% during the fourth quarter. Allworth Financial LP now owns 834 shares of the company’s stock worth $37,000 after buying an additional 420 shares during the last quarter. NewEdge Advisors LLC grew its holdings 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 buying an additional 717 shares in the last quarter. Finally, Cullen Frost Bankers Inc. acquired a new stake in shares of Maplebear in the 4th quarter worth $62,000. 63.09% of the stock is currently owned by institutional investors and hedge funds.

Maplebear Price Performance

Shares of NASDAQ:CART opened at $41.79 on Tuesday. Maplebear Inc. has a 12 month low of $29.84 and a 12 month high of $53.44. The firm has a market capitalization of $10.97 billion, a P/E ratio of 28.05, a P/E/G ratio of 1.19 and a beta of 1.20. The company’s fifty day moving average price is $41.81 and its 200 day moving average price is $43.57.

Maplebear (NASDAQ:CART) last posted its earnings results on Tuesday, February 25th. The company reported $0.53 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.16. The business had revenue of $883.00 million during 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%. On average, sell-side analysts anticipate that Maplebear Inc. will post 1.43 EPS for the current year.

Insider Buying and Selling at Maplebear

In other Maplebear news, 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 transaction, the chief executive officer now directly owns 1,654,559 shares in the company, valued at approximately $66,182,360. The trade was a 0.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last quarter, insiders sold 30,916 shares of company stock worth $1,318,335. 36.00% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Benchmark reissued a “hold” rating on shares of Maplebear in a research report on Wednesday, February 26th. Needham & Company LLC reiterated a “buy” rating and issued a $56.00 target price on shares of Maplebear in a report on Wednesday, February 26th. Seaport Res Ptn upgraded shares of Maplebear to a “strong-buy” rating in a report on Wednesday, February 12th. FBN Securities started coverage on Maplebear in a research report on Friday, March 28th. They issued a “sector perform” rating and a $44.00 price objective for the company. Finally, BMO Capital Markets raised their target price on Maplebear from $48.00 to $49.00 and gave the stock a “market perform” rating in a research note on Wednesday, February 26th. Twelve investment 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 stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $50.61.

About Maplebear

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.