Marathon Trading Investment Management LLC Purchases Shares of 9,500 Maplebear Inc. (NASDAQ:CART)

Marathon Trading Investment Management LLC acquired a new stake in Maplebear Inc. (NASDAQ:CART) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 9,500 shares of the company’s stock, valued at approximately $393,000.

A number of other hedge funds have also recently made changes to their positions in the business. New York State Teachers Retirement System lifted its position in Maplebear by 704.1% in the 3rd quarter. New York State Teachers Retirement System now owns 15,824 shares of the company’s stock valued at $645,000 after acquiring an additional 13,856 shares in the last quarter. US Bancorp DE raised its stake in shares of Maplebear by 429.2% in the third quarter. US Bancorp DE now owns 10,690 shares of the company’s stock worth $436,000 after purchasing an additional 8,670 shares during the last quarter. Entropy Technologies LP bought a new position in shares of Maplebear in the third quarter valued at approximately $232,000. Victory Capital Management Inc. boosted its position in shares of Maplebear by 6.1% during the third quarter. Victory Capital Management Inc. now owns 39,019 shares of the company’s stock valued at $1,590,000 after buying an additional 2,234 shares during the last quarter. Finally, Oppenheimer & Co. Inc. grew its holdings in Maplebear by 5.1% during the third quarter. Oppenheimer & Co. Inc. now owns 12,090 shares of the company’s stock worth $493,000 after buying an additional 584 shares in the last quarter. 63.09% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Mizuho dropped their price objective on Maplebear from $55.00 to $52.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 26th. Needham & Company LLC reissued a “buy” rating and set a $56.00 price target on shares of Maplebear in a research report on Wednesday, February 26th. Morgan Stanley upped their price objective on shares of Maplebear from $44.00 to $45.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 26th. BMO Capital Markets increased their price objective on shares of Maplebear from $48.00 to $49.00 and gave the company a “market perform” rating in a research note on Wednesday, February 26th. Finally, Oppenheimer cut their target price on Maplebear from $65.00 to $60.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 26th. Thirteen research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Maplebear presently has an average rating of “Moderate Buy” and an average price target of $50.21.

Insiders Place Their Bets

In other Maplebear news, CEO Fidji Simo sold 20,750 shares of the company’s stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $43.31, for a total value of $898,682.50. Following the transaction, the chief executive officer now directly owns 1,662,692 shares in the company, valued at $72,011,190.52. This represents a 1.23 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Alan Ramsay sold 2,247 shares of Maplebear stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $42.14, for a total value of $94,688.58. Following the sale, the chief accounting officer now owns 87,735 shares of the company’s stock, valued at approximately $3,697,152.90. This trade represents a 2.50 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 46,061 shares of company stock worth $1,987,318 in the last three months. 36.00% of the stock is currently owned by corporate insiders.

Maplebear Stock Performance

NASDAQ:CART opened at $38.31 on Tuesday. The business’s fifty day moving average is $45.91 and its 200 day moving average is $43.11. The firm has a market cap of $10.14 billion, a price-to-earnings ratio of 25.71, a PEG ratio of 1.19 and a beta of 1.34. Maplebear Inc. has a 52-week low of $29.84 and a 52-week high of $53.44.

Maplebear (NASDAQ:CART) last announced its quarterly earnings results on Tuesday, February 25th. The company reported $0.53 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.16. Maplebear had a return on equity of 13.78% and a net margin of 13.37%. The firm had revenue of $883.00 million for the quarter, compared to analysts’ expectations of $889.98 million. Equities analysts predict that Maplebear Inc. will post 1.43 EPS for the current fiscal year.

Maplebear Profile

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.