LSV Asset Management Invests $2.40 Million in Maplebear Inc. $CART

LSV Asset Management purchased a new stake in shares of Maplebear Inc. (NASDAQ:CART) in the third quarter, Holdings Channel reports. The firm purchased 65,203 shares of the company’s stock, valued at approximately $2,397,000.

Other institutional investors have also added to or reduced their stakes in the company. State Street Corp raised its stake in shares of Maplebear by 1.3% during the second quarter. State Street Corp now owns 5,101,870 shares of the company’s stock valued at $230,809,000 after acquiring an additional 66,588 shares during the last quarter. Boston Partners increased its holdings in Maplebear by 93.3% during the 2nd quarter. Boston Partners now owns 3,961,838 shares of the company’s stock valued at $179,261,000 after purchasing an additional 1,911,771 shares during the period. Viking Global Investors LP bought a new position in Maplebear during the 2nd quarter valued at approximately $169,782,000. Federated Hermes Inc. lifted its holdings in Maplebear by 12.3% in the 2nd quarter. Federated Hermes Inc. now owns 3,179,537 shares of the company’s stock worth $143,842,000 after buying an additional 347,153 shares during the period. Finally, Geode Capital Management LLC grew its position in shares of Maplebear by 6.1% in the 2nd quarter. Geode Capital Management LLC now owns 3,099,372 shares of the company’s stock worth $140,237,000 after buying an additional 178,792 shares during the last quarter. Hedge funds and other institutional investors own 63.09% of the company’s stock.

Insider Activity at Maplebear

In related news, General Counsel Morgan Fong sold 4,914 shares of the business’s stock in a transaction that occurred on Monday, December 22nd. The shares were sold at an average price of $45.21, for a total value of $222,161.94. Following the completion of the transaction, the general counsel directly owned 404,940 shares in the company, valued at $18,307,337.40. The trade was a 1.20% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 26.00% of the stock is currently owned by insiders.

Maplebear Stock Performance

Shares of CART stock opened at $36.30 on Tuesday. The company has a market capitalization of $9.53 billion, a price-to-earnings ratio of 22.83, a price-to-earnings-growth ratio of 0.94 and a beta of 1.00. Maplebear Inc. has a one year low of $32.73 and a one year high of $53.50. The company’s 50-day moving average is $41.02 and its 200 day moving average is $41.69.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on CART shares. Benchmark decreased their target price on Maplebear from $60.00 to $53.00 and set a “buy” rating for the company in a report on Tuesday, February 10th. Wells Fargo & Company decreased their price objective on shares of Maplebear from $47.00 to $43.00 and set an “equal weight” rating for the company in a report on Friday. JPMorgan Chase & Co. dropped their target price on shares of Maplebear from $65.00 to $55.00 and set an “overweight” rating for the company in a research report on Tuesday, November 11th. Jefferies Financial Group boosted their price target on shares of Maplebear from $41.00 to $48.00 and gave the company a “hold” rating in a research report on Thursday, December 11th. Finally, Cantor Fitzgerald increased their price target on shares of Maplebear from $45.00 to $54.00 and gave the stock an “overweight” rating in a research note on Thursday, January 8th. Fifteen analysts have rated the stock with a Buy rating, eleven have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $51.38.

About Maplebear

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.