International Assets Investment Management LLC Acquires New Position in Maplebear Inc. (NASDAQ:CART)

International Assets Investment Management LLC bought a new position in Maplebear Inc. (NASDAQ:CART) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 4,694 shares of the company’s stock, valued at approximately $110,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in CART. Signaturefd LLC bought a new stake in shares of Maplebear during the third quarter valued at approximately $30,000. Jump Financial LLC bought a new stake in shares of Maplebear in the 3rd quarter worth $245,000. Alberta Investment Management Corp purchased a new position in shares of Maplebear in the third quarter worth $252,000. EFG Asset Management North America Corp. bought a new position in shares of Maplebear during the third quarter valued at $270,000. Finally, Seven Grand Managers LLC purchased a new stake in shares of Maplebear during the third quarter valued at $297,000. Institutional investors own 63.09% of the company’s stock.

Insider Buying and Selling

In related news, General Counsel Morgan Fong sold 18,687 shares of the business’s stock in a transaction that occurred on Monday, April 22nd. The stock was sold at an average price of $34.86, for a total value of $651,428.82. Following the transaction, the general counsel now directly owns 418,973 shares of the company’s stock, valued at approximately $14,605,398.78. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Maplebear news, CAO Alan Ramsay sold 12,113 shares of the stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $34.33, for a total transaction of $415,839.29. Following the completion of the transaction, the chief accounting officer now owns 114,205 shares of the company’s stock, valued at approximately $3,920,657.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Morgan Fong sold 18,687 shares of the firm’s stock in a transaction dated Monday, April 22nd. The shares were sold at an average price of $34.86, for a total value of $651,428.82. Following the transaction, the general counsel now owns 418,973 shares of the company’s stock, valued at approximately $14,605,398.78. The disclosure for this sale can be found here. Over the last 90 days, insiders acquired 2,157,745 shares of company stock worth $61,771,955 and sold 1,027,279 shares worth $29,422,416. 4.02% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research firms have issued reports on CART. BMO Capital Markets started coverage on shares of Maplebear in a research note on Tuesday, January 9th. They set a “market perform” rating and a $26.00 target price on the stock. Barclays lifted their target price on shares of Maplebear from $40.00 to $41.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 14th. Fox Advisors cut Maplebear from an “overweight” rating to an “equal weight” rating in a report on Monday, April 1st. Morgan Stanley began coverage on Maplebear in a report on Tuesday, January 30th. They issued an “equal weight” rating and a $28.00 price objective for the company. Finally, Oppenheimer increased their target price on Maplebear from $36.00 to $48.00 and gave the company an “outperform” rating in a report on Monday. Ten investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $38.79.

Maplebear Price Performance

Shares of NASDAQ CART opened at $34.48 on Tuesday. Maplebear Inc. has a 1 year low of $22.13 and a 1 year high of $42.95. The firm has a fifty day moving average price of $35.33 and a 200-day moving average price of $28.62.

Maplebear (NASDAQ:CART) last issued its quarterly earnings results on Tuesday, February 13th. The company reported $0.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.52. The business had revenue of $803.00 million during the quarter, compared to analysts’ expectations of $804.62 million. The company’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 year.

About Maplebear

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.