Maplebear Inc. $CART Stock Acquired by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC grew its stake in shares of Maplebear Inc. (NASDAQ:CART) by 26.2% during the 3rd quarter, HoldingsChannel reports. The fund owned 113,371 shares of the company’s stock after buying an additional 23,504 shares during the period. Nisa Investment Advisors LLC’s holdings in Maplebear were worth $4,889,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in the stock. BlackRock Inc. bought a new position in shares of Maplebear in the second quarter worth $750,477,000. Dimensional Fund Advisors LP grew its position in shares of Maplebear by 31.4% in the first quarter. Dimensional Fund Advisors LP now owns 4,981,960 shares of the company’s stock valued at $186,618,000 after purchasing an additional 1,189,287 shares in the last quarter. William Blair Investment Management LLC bought a new stake in shares of Maplebear during the 2nd quarter valued at $86,462,000. Deutsche Bank AG bought a new stake in shares of Maplebear during the 2nd quarter valued at $73,801,000. Finally, Goodnow Investment Group LLC bought a new stake in shares of Maplebear during the 2nd quarter valued at $69,898,000. 63.09% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. BNP Paribas Exane raised Maplebear from an “underperform” rating to a “neutral” rating and set a $56.00 price objective on the stock in a report on Friday, August 7th. Citigroup lifted their target price on Maplebear from $50.00 to $58.00 and gave the company a “buy” rating in a report on Monday, August 10th. Oppenheimer upped their price target on Maplebear from $60.00 to $65.00 and gave the company an “outperform” rating in a research report on Friday, August 7th. Weiss Ratings upgraded Maplebear from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, October 15th. Finally, Cantor Fitzgerald increased their price target on shares of Maplebear from $56.00 to $63.00 and gave the stock an “overweight” rating in a report on Friday, August 7th. Fourteen research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $58.24.

Maplebear Stock Performance

NASDAQ CART opened at $56.44 on Friday. Maplebear Inc. has a 52-week low of $32.73 and a 52-week high of $57.98. The company has a fifty day moving average of $48.20 and a 200-day moving average of $45.19. The company has a market capitalization of $13.07 billion, a P/E ratio of 30.84, a P/E/G ratio of 1.00 and a beta of 0.87.

Maplebear (NASDAQ:CART) last released its earnings results on Thursday, August 6th. The company reported $0.45 EPS for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.09). The firm had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.03 billion. Maplebear had a net margin of 11.97% and a return on equity of 20.19%. The firm’s revenue was up 14.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.41 EPS. As a group, analysts forecast that Maplebear Inc. will post 2.33 EPS for the current fiscal year.

Insiders Place Their Bets

In other Maplebear news, insider Morgan Fong sold 18,390 shares of Maplebear stock in a transaction dated Tuesday, September 22nd. The stock was sold at an average price of $44.98, for a total transaction of $827,182.20. Following the completion of the sale, the insider owned 529,911 shares of the company’s stock, valued at $23,835,396.78. The trade was a 3.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ravi Gupta sold 150,000 shares of the company’s stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $50.61, for a total value of $7,591,500.00. Following the completion of the transaction, the director owned 591,523 shares of the company’s stock, valued at $29,936,979.03. The trade was a 20.23% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 192,813 shares of company stock valued at $9,629,020 over the last 90 days. Insiders own 24.00% of the company’s stock.

Maplebear Company Profile

Maplebear Inc, doing business as Instacart, operates a technology-enabled grocery marketplace that connects consumers with retailers and personal shoppers. Through its website and mobile applications, customers can order groceries and other household products for delivery or pickup from participating supermarkets, specialty food stores, convenience retailers and other merchants.

The company also provides retailers with e-commerce, fulfillment and advertising solutions. Its platform supports online storefronts, order management, delivery logistics, customer engagement and data-driven marketing, allowing retail partners to offer digital shopping services and reach consumers through Instacart’s marketplace.

Founded in 2012, Maplebear serves customers across the United States and Canada.