Carnegie Investment Counsel raised its stake in Maplebear Inc. (NASDAQ:CART – Free Report) by 2.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 557,350 shares of the company’s stock after acquiring an additional 14,414 shares during the quarter. Carnegie Investment Counsel owned approximately 0.21% of Maplebear worth $25,070,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors also recently modified their holdings of CART. Royal Bank of Canada lifted its stake in shares of Maplebear by 51.2% during the 1st quarter. Royal Bank of Canada now owns 131,789 shares of the company’s stock valued at $5,256,000 after buying an additional 44,642 shares in the last quarter. NewEdge Advisors LLC lifted its stake in shares of Maplebear by 71.6% during the 1st quarter. NewEdge Advisors LLC now owns 1,673 shares of the company’s stock valued at $67,000 after buying an additional 698 shares in the last quarter. Jones Financial Companies Lllp lifted its stake in shares of Maplebear by 358.5% during the 1st quarter. Jones Financial Companies Lllp now owns 3,200 shares of the company’s stock valued at $128,000 after buying an additional 2,502 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of Maplebear by 17.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 390,711 shares of the company’s stock valued at $15,585,000 after buying an additional 57,879 shares in the last quarter. Finally, Empowered Funds LLC purchased a new stake in shares of Maplebear during the 1st quarter valued at approximately $268,000. 63.09% of the stock is currently owned by hedge funds and other institutional investors.
Insider Activity at Maplebear
In other Maplebear news, General Counsel Morgan Fong sold 126,083 shares of the stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $37.09, for a total value of $4,676,418.47. Following the sale, the general counsel directly owned 386,643 shares in the company, valued at $14,340,588.87. This represents a 24.59% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Lisa Blackwood-Kapral sold 9,390 shares of the stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $38.74, for a total transaction of $363,768.60. Following the completion of the sale, the chief accounting officer owned 47,510 shares in the company, valued at $1,840,537.40. This represents a 16.50% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 26.00% of the company’s stock.
Maplebear Price Performance
NASDAQ CART opened at $39.25 on Friday. Maplebear Inc. has a 1 year low of $32.73 and a 1 year high of $53.50. The stock has a market capitalization of $9.44 billion, a PE ratio of 24.69, a P/E/G ratio of 0.61 and a beta of 0.88. The company’s 50 day simple moving average is $37.14 and its two-hundred day simple moving average is $39.60.
Wall Street Analysts Forecast Growth
A number of analysts recently commented on the stock. Raymond James Financial upgraded shares of Maplebear from a “hold” rating to a “moderate buy” rating in a research note on Thursday. Argus upgraded shares of Maplebear to a “strong-buy” rating in a research note on Thursday, March 5th. Jefferies Financial Group upgraded shares of Maplebear from a “hold” rating to a “buy” rating and upped their price target for the company from $38.00 to $45.00 in a research note on Monday, March 30th. Cantor Fitzgerald upped their price target on shares of Maplebear from $45.00 to $54.00 and gave the company an “overweight” rating in a research note on Thursday, January 8th. Finally, Needham & Company LLC upped their price target on shares of Maplebear from $50.00 to $55.00 and gave the company a “buy” rating in a research note on Friday, February 13th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $51.29.
Read Our Latest Report on Maplebear
Maplebear Profile
Maplebear, Inc, doing business as Instacart, operates a leading online grocery and essentials marketplace that connects consumers, retail partners and personal shoppers through its digital platform. The company enables customers to order groceries, household items and specialty products for same-day or scheduled delivery, as well as in-store pickup. By integrating its technology with retailers’ existing inventory and point-of-sale systems, Maplebear streamlines the shopping experience and provides real-time availability and pricing.
Founded in 2012 and headquartered in San Francisco, Maplebear has grown from a regional startup to a publicly traded company listed on NASDAQ under the ticker CART.
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