US Bancorp DE Boosts Stake in Maplebear Inc. (NASDAQ:CART)

US Bancorp DE lifted its position in Maplebear Inc. (NASDAQ:CART) by 429.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 10,690 shares of the company’s stock after buying an additional 8,670 shares during the quarter. US Bancorp DE’s holdings in Maplebear were worth $436,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Sculptor Capital LP purchased a new stake in Maplebear during the 2nd quarter worth about $77,361,000. Federated Hermes Inc. raised its stake in shares of Maplebear by 102.2% during 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. increased its stake in Maplebear by 3.3% in the 2nd quarter. Industry Ventures L.L.C. now owns 980,458 shares of the company’s stock valued at $31,512,000 after purchasing an additional 31,175 shares in the last quarter. Lord Abbett & CO. LLC purchased a new position in Maplebear in the 1st quarter valued at approximately $28,674,000. Finally, Marshall Wace LLP increased its stake in Maplebear by 34.1% in the 2nd quarter. Marshall Wace LLP now owns 726,582 shares of the company’s stock valued at $23,352,000 after purchasing an additional 184,569 shares in the last quarter. Hedge funds and other institutional investors own 63.09% of the company’s stock.

Insiders Place Their Bets

In other Maplebear news, General Counsel Morgan Fong sold 8,345 shares of the firm’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $40.00, for a total value of $333,800.00. Following the transaction, the general counsel now directly owns 330,886 shares of the company’s stock, valued at approximately $13,235,440. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Fidji Simo sold 20,750 shares of the company’s stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $44.39, for a total transaction of $921,092.50. Following the sale, the chief executive officer now owns 1,803,278 shares of the company’s stock, valued at approximately $80,047,510.42. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, General Counsel Morgan Fong sold 8,345 shares of the company’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $40.00, for a total transaction of $333,800.00. Following the sale, the general counsel now directly owns 330,886 shares in the company, valued at $13,235,440. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 118,710 shares of company stock worth $4,978,164. 36.00% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research firms have recently issued reports on CART. Stifel Nicolaus raised their price objective on Maplebear from $52.00 to $55.00 and gave the stock a “buy” rating in a report on Monday, October 28th. Bank of America upped their target price on Maplebear from $41.00 to $45.00 and gave the company a “neutral” rating in a report on Tuesday, September 24th. Macquarie upped their target price on Maplebear from $44.00 to $45.00 and gave the stock an “outperform” rating in a research report on Thursday, August 8th. Piper Sandler increased their price objective on Maplebear from $47.00 to $50.00 and gave the company an “overweight” rating in a research report on Wednesday, August 7th. Finally, Raymond James assumed coverage on shares of Maplebear in a research note on Tuesday, September 24th. They issued a “market perform” rating on the stock. Twelve equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Maplebear currently has an average rating of “Moderate Buy” and a consensus target price of $43.90.

Maplebear Trading Up 0.0 %

NASDAQ:CART opened at $47.74 on Tuesday. The stock has a market capitalization of $12.45 billion, a price-to-earnings ratio of -2.41, a PEG ratio of 1.48 and a beta of 1.12. The firm has a fifty day simple moving average of $41.39 and a two-hundred day simple moving average of $36.37. Maplebear Inc. has a 12 month low of $22.13 and a 12 month high of $50.01.

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.