Maplebear Inc. (NASDAQ:CART) Stake Raised by Victory Capital Management Inc.

Victory Capital Management Inc. boosted its holdings in shares of Maplebear Inc. (NASDAQ:CART) by 6.1% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 39,019 shares of the company’s stock after acquiring an additional 2,234 shares during the quarter. Victory Capital Management Inc.’s holdings in Maplebear were worth $1,590,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Sculptor Capital LP purchased a new stake in shares of Maplebear in the second quarter worth approximately $77,361,000. Federated Hermes Inc. lifted its position in Maplebear by 102.2% in the 2nd quarter. Federated Hermes Inc. now owns 1,734,264 shares of the company’s stock worth $55,739,000 after buying an additional 876,439 shares in the last quarter. Industry Ventures L.L.C. boosted its stake in shares of Maplebear by 3.3% during the 2nd quarter. Industry Ventures L.L.C. now owns 980,458 shares of the company’s stock valued at $31,512,000 after buying an additional 31,175 shares during the period. Marshall Wace LLP grew its holdings in shares of Maplebear by 34.1% during the 2nd quarter. Marshall Wace LLP now owns 726,582 shares of the company’s stock valued at $23,352,000 after acquiring an additional 184,569 shares in the last quarter. Finally, Renaissance Technologies LLC acquired a new position in shares of Maplebear in the second quarter worth $22,816,000. Hedge funds and other institutional investors own 63.09% of the company’s stock.

Maplebear Trading Up 0.9 %

Shares of Maplebear stock opened at $43.61 on Tuesday. Maplebear Inc. has a 1 year low of $22.13 and a 1 year high of $50.01. The company’s fifty day simple moving average is $42.95 and its 200-day simple moving average is $36.88. The company has a market cap of $11.20 billion, a price-to-earnings ratio of 29.27, a PEG ratio of 1.12 and a beta of 1.12.

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

Analyst Ratings Changes

CART has been the subject of a number of research reports. BMO Capital Markets lifted their price objective on Maplebear from $39.00 to $48.00 and gave the company a “market perform” rating in a research report on Wednesday, November 13th. Citigroup lifted their price target on Maplebear from $44.00 to $47.00 and gave the company a “buy” rating in a report on Thursday, August 8th. Bank of America increased their price objective on Maplebear from $50.00 to $51.00 and gave the stock a “neutral” rating in a report on Wednesday, November 13th. JPMorgan Chase & Co. lifted their target price on shares of Maplebear from $47.00 to $52.00 and gave the company an “overweight” rating in a research note on Wednesday, November 13th. Finally, Wedbush increased their price target on shares of Maplebear from $35.00 to $38.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th. 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, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $47.29.

Insider Buying and Selling at Maplebear

In related news, CAO Alan Ramsay sold 2,247 shares of the company’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $41.06, for a total value of $92,261.82. Following the sale, the chief accounting officer now owns 89,982 shares of the company’s stock, valued at $3,694,660.92. The trade was a 2.44 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Fidji Simo sold 33,000 shares of the firm’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $35.27, for a total transaction of $1,163,910.00. Following the transaction, the chief executive officer now owns 1,844,778 shares of the company’s stock, valued at approximately $65,065,320.06. This represents a 1.76 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 123,204 shares of company stock valued at $5,162,688 in the last quarter. Corporate insiders own 36.00% of the company’s stock.

Maplebear Company 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.