Investment House LLC Purchases Shares of 46,808 Maplebear Inc. (NASDAQ:CART)

Investment House LLC acquired a new stake in Maplebear Inc. (NASDAQ:CART) during the 4th quarter, HoldingsChannel.com reports. The fund acquired 46,808 shares of the company’s stock, valued at approximately $1,099,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CART. SC US Ttgp LTD. acquired a new position in Maplebear during the 3rd quarter worth approximately $1,180,490,000. KPCB DGF II Associates LLC acquired a new position in shares of Maplebear during the 3rd quarter worth about $119,544,000. Canaan Partners IX LLC acquired a new stake in shares of Maplebear during the 4th quarter worth about $87,508,000. Technology Crossover Management XI Ltd. purchased a new stake in Maplebear during the third quarter worth approximately $80,163,000. Finally, FMR LLC acquired a new position in Maplebear in the third quarter valued at approximately $56,424,000. 63.09% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have weighed in on CART shares. Loop Capital started coverage on shares of Maplebear in a report on Friday, April 19th. They set a “buy” rating and a $46.00 price objective on the stock. Wolfe Research boosted their price target on shares of Maplebear from $35.00 to $39.00 and gave the company an “outperform” rating in a research report on Tuesday, March 5th. JPMorgan Chase & Co. raised their price objective on Maplebear from $35.00 to $45.00 and gave the stock an “overweight” rating in a report on Monday, March 25th. Oppenheimer boosted their target price on Maplebear from $36.00 to $48.00 and gave the company an “outperform” rating in a report on Monday. Finally, Piper Sandler raised their price target on Maplebear from $36.00 to $45.00 and gave the stock an “overweight” rating in a research note on Friday, March 15th. Ten investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $38.79.

Insiders Place Their Bets

In other news, Director Jeffrey D. Jordan sold 760,479 shares of the business’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $26.01, for a total transaction of $19,780,058.79. Following the sale, the director now owns 20,783 shares of the company’s stock, valued at approximately $540,565.83. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CAO Alan Ramsay sold 12,113 shares of the business’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $34.33, for a total value of $415,839.29. Following the completion of the transaction, the chief accounting officer now owns 114,205 shares of the company’s stock, valued at approximately $3,920,657.65. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jeffrey D. Jordan sold 760,479 shares of the firm’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $26.01, for a total transaction of $19,780,058.79. Following the sale, the director now directly owns 20,783 shares in the company, valued at $540,565.83. The disclosure for this sale can be found here. Over the last three months, insiders have purchased 2,157,745 shares of company stock worth $61,771,955 and have sold 1,027,279 shares worth $29,422,416.

Maplebear Price Performance

Shares of CART stock opened at $34.48 on Tuesday. Maplebear Inc. has a 12-month low of $22.13 and a 12-month high of $42.95. The stock has a 50 day simple moving average of $35.33 and a 200-day simple moving average of $28.62.

Maplebear (NASDAQ:CART) last issued its earnings results on Tuesday, February 13th. The company reported $0.44 EPS for the quarter, topping the consensus estimate of ($0.08) by $0.52. The company had revenue of $803.00 million for the quarter, compared to analysts’ expectations of $804.62 million. The business’s quarterly revenue was up 6.1% on a year-over-year basis. Sell-side analysts expect that Maplebear Inc. will post 0.53 earnings per share for the current year.

About Maplebear

Maplebear Inc, doing business as Instacart, provides online grocery shopping services to households in North America. It sells and delivers grocery products. The company offers its services through a mobile application and website. It also provides software-as-a-service solutions to retailers. The company was incorporated in 2012 and is based in San Francisco, California.