Maplebear Inc. (NASDAQ:CART) Stock Position Lifted by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Maplebear Inc. (NASDAQ:CART) by 18.6% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,056 shares of the company’s stock after purchasing an additional 322 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Maplebear were worth $82,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CART. Proathlete Wealth Management LLC purchased a new position in Maplebear during the first quarter valued at approximately $26,000. Jones Financial Companies Lllp grew its position 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 in the last quarter. NewEdge Advisors LLC grew its position in Maplebear by 277.9% during the fourth quarter. NewEdge Advisors LLC now owns 975 shares of the company’s stock valued at $40,000 after purchasing an additional 717 shares in the last quarter. UMB Bank n.a. grew its position in Maplebear by 914.1% during the first quarter. UMB Bank n.a. now owns 1,004 shares of the company’s stock valued at $40,000 after purchasing an additional 905 shares in the last quarter. Finally, Spire Wealth Management purchased a new position in Maplebear during the first quarter valued at approximately $41,000. 63.09% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

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

Wall Street Analyst Weigh In

A number of research analysts recently commented on CART shares. Macquarie reaffirmed an “outperform” rating and set a $55.00 price objective on shares of Maplebear in a research report on Tuesday, May 6th. Wells Fargo & Company reduced their target price on shares of Maplebear from $47.00 to $44.00 and set an “equal weight” rating for the company in a research note on Thursday, April 3rd. Loop Capital lifted their target price on shares of Maplebear from $52.00 to $58.00 and gave the company a “buy” rating in a research note on Monday, May 19th. FBN Securities assumed coverage on shares of Maplebear in a research note on Friday, March 28th. They issued a “sector perform” rating and a $44.00 target price for the company. Finally, Citigroup lifted their target price on shares of Maplebear from $55.00 to $57.00 and gave the company a “buy” rating in a research note on Tuesday, May 13th. Thirteen equities research 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 company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $51.91.

Maplebear Trading Up 2.5%

Shares of CART stock opened at $47.23 on Monday. Maplebear Inc. has a 1 year low of $29.84 and a 1 year high of $53.44. The firm’s fifty day simple moving average is $44.84 and its 200 day simple moving average is $43.92. The firm has a market capitalization of $12.40 billion, a P/E ratio of 31.07, a price-to-earnings-growth ratio of 1.99 and a beta of 1.21.

Maplebear (NASDAQ:CART) last announced its earnings results on Thursday, May 1st. The company reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.01). Maplebear had a return on equity of 14.12% and a net margin of 12.45%. The company had revenue of $897.00 million for the quarter, compared to the consensus estimate of $896.86 million. During the same period last year, the firm posted $0.43 EPS. The company’s revenue was up 9.4% compared to the same quarter last year. Equities research analysts anticipate 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.