Maplebear Inc. (NASDAQ:CART) Stock Position Lifted by KBC Group NV

KBC Group NV grew its position in Maplebear Inc. (NASDAQ:CART) by 59.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,062 shares of the company’s stock after acquiring an additional 2,254 shares during the quarter. KBC Group NV’s holdings in Maplebear were worth $242,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Jones Financial Companies Lllp increased its stake in Maplebear by 46.6% during the fourth quarter. Jones Financial Companies Lllp now owns 698 shares of the company’s stock valued at $29,000 after purchasing an additional 222 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Maplebear by 18.6% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,056 shares of the company’s stock valued at $82,000 after buying an additional 322 shares during the period. Wealth Enhancement Advisory Services LLC grew its position in shares of Maplebear by 0.5% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 74,846 shares of the company’s stock valued at $2,986,000 after buying an additional 336 shares during the last quarter. Cambridge Investment Research Advisors Inc. grew its position in shares of Maplebear by 7.6% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 6,166 shares of the company’s stock valued at $246,000 after buying an additional 433 shares during the last quarter. Finally, WCG Wealth Advisors LLC raised its stake in Maplebear by 3.3% during the fourth quarter. WCG Wealth Advisors LLC now owns 14,256 shares of the company’s stock worth $590,000 after acquiring an additional 451 shares during the period. 63.09% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Maplebear

In other news, Director Levien Meredith A. Kopit sold 4,225 shares of the company’s stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $47.45, for a total transaction of $200,476.25. Following the completion of the sale, the director directly owned 20,829 shares of the company’s stock, valued at $988,336.05. This represents a 16.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Fidji Simo sold 8,133 shares of Maplebear stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $41.60, for a total value of $338,332.80. Following the completion of the transaction, the chief executive officer directly owned 1,646,426 shares in the company, valued at $68,491,321.60. This represents a 0.49% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 22,287 shares of company stock valued at $967,711. Corporate insiders own 26.00% of the company’s stock.

Analyst Upgrades and Downgrades

CART has been the subject of a number of research reports. Loop Capital lifted their target price on Maplebear from $52.00 to $58.00 and gave the company a “buy” rating in a research note on Monday, May 19th. Wells Fargo & Company reduced their price objective on Maplebear from $47.00 to $44.00 and set an “equal weight” rating for the company in a research report on Thursday, April 3rd. Needham & Company LLC reaffirmed a “buy” rating and issued a $56.00 target price on shares of Maplebear in a research report on Friday, May 2nd. JMP Securities reiterated a “market outperform” rating and issued a $55.00 target price on shares of Maplebear in a research note on Thursday, June 12th. Finally, Citigroup upped their price target on shares of Maplebear from $55.00 to $57.00 and gave the stock a “buy” rating in a research report on Tuesday, May 13th. Thirteen analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $51.91.

Maplebear Trading Up 2.5%

Shares of Maplebear stock opened at $47.23 on Friday. Maplebear Inc. has a 52 week low of $29.84 and a 52 week high of $53.44. The stock has a market cap of $12.40 billion, a PE ratio of 31.07, a price-to-earnings-growth ratio of 1.99 and a beta of 1.21. The company’s 50-day moving average price is $44.84 and its two-hundred day moving average price is $43.91.

Maplebear (NASDAQ:CART) last released its earnings results on Thursday, May 1st. The company reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.01). The business had revenue of $897.00 million during the quarter, compared to the consensus estimate of $896.86 million. Maplebear had a return on equity of 14.12% and a net margin of 12.45%. The firm’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.43 earnings per share. On average, equities analysts predict that Maplebear Inc. will post 1.43 EPS for the current fiscal year.

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.