Federated Hermes Inc. Raises Holdings in Maplebear Inc. (NASDAQ:CART)

Federated Hermes Inc. boosted its stake in shares of Maplebear Inc. (NASDAQ:CART) by 190.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 464,355 shares of the company’s stock after purchasing an additional 304,355 shares during the quarter. Federated Hermes Inc.’s holdings in Maplebear were worth $10,898,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. FMR LLC purchased a new stake in Maplebear during the 3rd quarter worth about $56,424,000. Blackstone Inc. purchased a new stake in Maplebear during the 3rd quarter worth about $17,369,000. KPCB DGF II Associates LLC purchased a new stake in Maplebear during the 3rd quarter worth about $119,544,000. Monashee Investment Management LLC purchased a new stake in Maplebear during the 3rd quarter worth about $6,069,000. Finally, Hudson Bay Capital Management LP purchased a new stake in Maplebear during the 3rd quarter worth about $904,000. Hedge funds and other institutional investors own 63.09% of the company’s stock.

Insider Buying and Selling at Maplebear

In other Maplebear news, major shareholder Us (Ttgp) Ltd. Sc bought 1,036,683 shares of the business’s stock in a transaction dated Tuesday, February 20th. The stock was acquired at an average cost of $27.90 per share, with a total value of $28,923,455.70. Following the purchase, the insider now owns 1,036,683 shares in the company, valued at approximately $28,923,455.70. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Maplebear news, major shareholder Us (Ttgp) Ltd. Sc bought 1,036,683 shares of the business’s stock in a transaction dated Tuesday, February 20th. The stock was acquired at an average cost of $27.90 per share, with a total value of $28,923,455.70. Following the purchase, the insider now owns 1,036,683 shares in the company, valued at approximately $28,923,455.70. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Jeffrey D. Jordan sold 760,479 shares of the stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $26.01, for a total value of $19,780,058.79. Following the transaction, the director now directly owns 20,783 shares of the company’s stock, valued at $540,565.83. The disclosure for this sale can be found here. In the last ninety days, insiders purchased 2,157,745 shares of company stock valued at $61,771,955 and sold 1,008,592 shares valued at $28,770,988.

Analyst Upgrades and Downgrades

CART has been the subject of several analyst reports. Piper Sandler upped their price objective on Maplebear from $36.00 to $45.00 and gave the stock an “overweight” rating in a research report on Friday, March 15th. Morgan Stanley initiated coverage on Maplebear in a research report on Tuesday, January 30th. They set an “equal weight” rating and a $28.00 price objective for the company. Fox Advisors cut Maplebear from an “overweight” rating to an “equal weight” rating in a research report on Monday, April 1st. Barclays upped their price objective on Maplebear from $40.00 to $41.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 14th. Finally, JPMorgan Chase & Co. upped their price objective on Maplebear from $35.00 to $45.00 and gave the stock an “overweight” rating in a research report on Monday, March 25th. Ten research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $38.16.

Maplebear Stock Down 7.4 %

CART opened at $33.42 on Wednesday. The business has a 50 day moving average price of $34.71 and a two-hundred day moving average price of $28.36. Maplebear Inc. has a 52 week low of $22.13 and a 52 week high of $42.95.

Maplebear (NASDAQ:CART) last posted its quarterly earnings data on Tuesday, February 13th. The company reported $0.44 EPS for the quarter, beating the consensus estimate of ($0.08) by $0.52. The company had revenue of $803.00 million for the quarter, compared to analysts’ expectations of $804.62 million. The firm’s revenue was up 6.1% on a year-over-year basis. As a group, equities analysts expect that Maplebear Inc. will post 0.53 EPS for the current fiscal year.

Maplebear Profile

Maplebear Inc, doing business as Instacart, provides online grocery shopping services to households in North America. It sells and delivers grocery products. The company offers its services through a mobile application and website. It also provides software-as-a-service solutions to retailers. The company was incorporated in 2012 and is based in San Francisco, California.