Canada Pension Plan Investment Board Has $10.10 Million Holdings in Maplebear Inc. (NASDAQ:CART)

Canada Pension Plan Investment Board lifted its stake in Maplebear Inc. (NASDAQ:CART) by 82.6% during the 4th quarter, HoldingsChannel reports. The fund owned 243,800 shares of the company’s stock after buying an additional 110,300 shares during the period. Canada Pension Plan Investment Board’s holdings in Maplebear were worth $10,098,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of CART. Zacks Investment Management increased its stake in Maplebear by 8.2% during the fourth quarter. Zacks Investment Management now owns 128,863 shares of the company’s stock valued at $5,338,000 after acquiring an additional 9,748 shares during the period. Marshall Wace LLP grew its holdings in shares of Maplebear by 199.2% during the 4th quarter. Marshall Wace LLP now owns 1,758,380 shares of the company’s stock worth $72,832,000 after purchasing an additional 1,170,634 shares in the last quarter. NewEdge Advisors LLC increased its position in shares of Maplebear by 277.9% during the fourth quarter. NewEdge Advisors LLC now owns 975 shares of the company’s stock valued at $40,000 after purchasing an additional 717 shares during the period. Jump Financial LLC raised its stake in shares of Maplebear by 41.2% in the fourth quarter. Jump Financial LLC now owns 189,342 shares of the company’s stock valued at $7,843,000 after purchasing an additional 55,242 shares in the last quarter. Finally, CreativeOne Wealth LLC bought a new position in Maplebear in the fourth quarter worth $225,000. Institutional investors own 63.09% of the company’s stock.

Insider Buying and Selling

In other Maplebear news, CEO Fidji Simo sold 2,033 shares of Maplebear stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $40.00, for a total transaction 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 legal filing with the SEC, which is accessible through this link. Insiders have sold 30,916 shares of company stock valued at $1,318,335 in the last 90 days. 36.00% of the stock is owned by insiders.

Maplebear Stock Performance

Shares of Maplebear stock opened at $41.79 on Tuesday. The firm has a fifty day moving average of $41.81 and a two-hundred day moving average of $43.57. The stock has a market capitalization of $10.97 billion, a price-to-earnings ratio of 28.05, a PEG ratio of 1.19 and a beta of 1.20. 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 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 firm 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, research analysts forecast that Maplebear Inc. will post 1.43 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently weighed in on CART shares. Macquarie lifted their target price on shares of Maplebear from $52.00 to $55.00 and gave the company an “outperform” rating in a research report on Thursday, February 27th. 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 raised their target price on Maplebear from $44.00 to $45.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 26th. Wedbush decreased their price target on Maplebear from $48.00 to $46.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 26th. Finally, Wells Fargo & Company cut their price objective on Maplebear from $47.00 to $44.00 and set an “equal weight” rating for the company in a report on Thursday, April 3rd. Twelve research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on 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.