Vinva Investment Management Ltd Takes Position in Maplebear Inc. (NASDAQ:CART)

Vinva Investment Management Ltd bought a new stake in Maplebear Inc. (NASDAQ:CART) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 5,206 shares of the company’s stock, valued at approximately $212,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of CART. Huntington National Bank bought a new position in Maplebear in the 3rd quarter worth approximately $54,000. nVerses Capital LLC raised its holdings in Maplebear by 1,600.0% in the second quarter. nVerses Capital LLC now owns 1,700 shares of the company’s stock worth $55,000 after purchasing an additional 1,600 shares during the period. Mirae Asset Global Investments Co. Ltd. bought a new position in Maplebear during the third quarter worth about $74,000. Quarry LP grew its position in shares of Maplebear by 269.5% in the 2nd quarter. Quarry LP now owns 3,928 shares of the company’s stock valued at $126,000 after purchasing an additional 2,865 shares during the period. Finally, Watts Gwilliam & Co. LLC bought a new stake in shares of Maplebear during the third quarter worth $231,000. Institutional investors and hedge funds own 63.09% of the company’s stock.

Maplebear Stock Up 0.5 %

NASDAQ:CART opened at $43.67 on Friday. The company has a fifty day moving average of $43.20 and a 200 day moving average of $37.11. Maplebear Inc. has a 52 week low of $22.13 and a 52 week high of $50.01. The firm has a market capitalization of $11.22 billion, a P/E ratio of 29.31, a P/E/G ratio of 1.12 and a beta of 1.12.

Maplebear (NASDAQ:CART) last released its quarterly earnings data on Tuesday, November 12th. The company reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.20. The business had revenue of $852.00 million during the quarter, compared to analysts’ expectations of $844.03 million. Maplebear had a return on equity of 13.78% and a net margin of 13.37%. The business’s revenue was up 11.5% on a year-over-year basis. During the same quarter last year, the business posted ($20.86) EPS. As a group, analysts anticipate that Maplebear Inc. will post 1.4 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on CART. Barclays lifted their target price on Maplebear from $48.00 to $56.00 and gave the company an “overweight” rating in a research report on Wednesday, November 13th. Benchmark restated a “hold” rating on shares of Maplebear in a research note on Wednesday, August 7th. Citigroup lifted their price objective on Maplebear from $44.00 to $47.00 and gave the company a “buy” rating in a report on Thursday, August 8th. Morgan Stanley lowered their target price on Maplebear from $45.00 to $41.00 and set an “equal weight” rating for the company in a research note on Tuesday, September 24th. Finally, JMP Securities boosted their target price on shares of Maplebear from $42.00 to $51.00 and gave the stock a “market outperform” rating in a research note on Wednesday, November 13th. Twelve analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, Maplebear presently has a consensus rating of “Moderate Buy” and a consensus target price of $47.29.

Insider Buying and Selling at Maplebear

In other news, General Counsel Morgan Fong sold 29,253 shares of the company’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $48.03, for a total transaction of $1,405,021.59. Following the transaction, the general counsel now directly owns 258,406 shares of the company’s stock, valued at $12,411,240.18. This represents a 10.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Alan Ramsay sold 2,559 shares of the stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $42.97, for a total value of $109,960.23. Following the completion of the transaction, the chief accounting officer now directly owns 96,666 shares in the company, valued at approximately $4,153,738.02. This represents a 2.58 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 110,954 shares of company stock valued at $4,890,405. 36.00% of the stock is currently owned by corporate insiders.

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.