Maplebear Inc. (NASDAQ:CART) Shares Purchased by Capstone Investment Advisors LLC

Capstone Investment Advisors LLC lifted its holdings in Maplebear Inc. (NASDAQ:CART) by 37.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 172,134 shares of the company’s stock after acquiring an additional 47,134 shares during the period. Capstone Investment Advisors LLC’s holdings in Maplebear were worth $6,419,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Parallel Advisors LLC lifted its stake in shares of Maplebear by 139.3% during the fourth quarter. Parallel Advisors LLC now owns 1,065 shares of the company’s stock worth $25,000 after purchasing an additional 620 shares in the last quarter. Cantor Fitzgerald L. P. grew its position in Maplebear by 389.5% in the fourth quarter. Cantor Fitzgerald L. P. now owns 1,850 shares of the company’s stock valued at $43,000 after acquiring an additional 2,489 shares in the last quarter. Kapitalo Investimentos Ltda purchased a new stake in shares of Maplebear during the fourth quarter valued at approximately $69,000. Amalgamated Bank acquired a new stake in Maplebear during the 4th quarter valued at $94,000. Finally, International Assets Investment Management LLC purchased a new stake in Maplebear during the 4th quarter worth $110,000. Institutional investors and hedge funds own 63.09% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on CART. JPMorgan Chase & Co. lifted their target price on Maplebear from $35.00 to $45.00 and gave the stock an “overweight” rating in a research report on Monday, March 25th. Macquarie started coverage on shares of Maplebear in a report on Monday, March 25th. They issued an “outperform” rating and a $42.00 price target on the stock. Oppenheimer boosted their target price on shares of Maplebear from $36.00 to $48.00 and gave the stock an “outperform” rating in a research report on Monday, April 29th. Gordon Haskett raised shares of Maplebear from a “hold” rating to a “buy” rating and increased their price target for the stock from $37.00 to $45.00 in a research report on Wednesday, June 5th. Finally, Stifel Nicolaus lifted their price objective on shares of Maplebear from $44.00 to $45.00 and gave the stock a “buy” rating in a report on Thursday, May 9th. Nine research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $41.25.

Maplebear Price Performance

Shares of NASDAQ:CART traded up $0.35 on Friday, reaching $34.48. 3,836,347 shares of the company traded hands, compared to its average volume of 4,305,912. The company’s 50 day moving average is $33.35 and its 200-day moving average is $31.34. Maplebear Inc. has a fifty-two week low of $22.13 and a fifty-two week high of $42.95.

Maplebear (NASDAQ:CART) last announced its earnings results on Wednesday, May 8th. The company reported $0.43 EPS for the quarter, beating the consensus estimate of $0.04 by $0.39. The company had revenue of $820.00 million for the quarter, compared to analysts’ expectations of $794.08 million. The firm’s revenue for the quarter was up 8.0% compared to the same quarter last year. As a group, equities analysts anticipate that Maplebear Inc. will post 1.02 EPS for the current fiscal year.

Insider Transactions at Maplebear

In related news, CFO Nick Giovanni sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, April 17th. The shares were sold at an average price of $36.97, for a total value of $369,700.00. Following the completion of the transaction, the chief financial officer now owns 576,977 shares of the company’s stock, valued at approximately $21,330,839.69. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Maplebear news, CEO Fidji Simo sold 2,500 shares of the company’s stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $33.81, for a total value of $84,525.00. Following the transaction, the chief executive officer now directly owns 1,992,667 shares of the company’s stock, valued at approximately $67,372,071.27. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Nick Giovanni sold 10,000 shares of the stock in a transaction that occurred on Wednesday, April 17th. The stock was sold at an average price of $36.97, for a total value of $369,700.00. Following the completion of the transaction, the chief financial officer now owns 576,977 shares in the company, valued at approximately $21,330,839.69. The disclosure for this sale can be found here. Insiders have sold a total of 97,863 shares of company stock valued at $3,367,121 over the last ninety days. Corporate insiders own 36.00% of the company’s stock.

Maplebear Company Profile

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.