Maplebear Inc. (NASDAQ:CART) Shares Purchased by Vanguard Group Inc.

Vanguard Group Inc. boosted its position in Maplebear Inc. (NASDAQ:CART) by 3.4% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 16,514,830 shares of the company’s stock after purchasing an additional 546,472 shares during the quarter. Vanguard Group Inc. owned about 6.29% of Maplebear worth $658,777,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. raised its stake in Maplebear by 4,154.7% in the 1st quarter. Principal Financial Group Inc. now owns 372,581 shares of the company’s stock valued at $14,862,000 after purchasing an additional 363,824 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in 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 in the last quarter. Cambridge Investment Research Advisors Inc. grew its holdings in Maplebear by 7.6% in 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 in the last quarter. Golden State Wealth Management LLC grew its holdings in Maplebear by 100.0% in the 1st quarter. Golden State Wealth Management LLC now owns 1,066 shares of the company’s stock valued at $43,000 after buying an additional 533 shares in the last quarter. Finally, New York State Teachers Retirement System grew its holdings in Maplebear by 542.8% in the 1st quarter. New York State Teachers Retirement System now owns 101,720 shares of the company’s stock valued at $4,058,000 after buying an additional 85,896 shares in the last quarter. 63.09% of the stock is owned by institutional investors and hedge funds.

Maplebear Price Performance

Shares of Maplebear stock opened at $45.11 on Thursday. The business has a 50-day moving average of $46.88 and a 200 day moving average of $44.77. Maplebear Inc. has a 12 month low of $31.59 and a 12 month high of $53.50. The stock has a market capitalization of $11.88 billion, a price-to-earnings ratio of 26.08, a price-to-earnings-growth ratio of 1.70 and a beta of 1.21.

Maplebear (NASDAQ:CART) last announced its earnings results on Thursday, August 7th. The company reported $0.41 EPS for the quarter, beating analysts’ consensus estimates of $0.39 by $0.02. Maplebear had a return on equity of 15.69% and a net margin of 13.76%. The company had revenue of $914.00 million during the quarter, compared to analysts’ expectations of $896.55 million. During the same period last year, the business posted $0.20 EPS. Maplebear’s revenue for the quarter was up 11.1% on a year-over-year basis. Equities research analysts anticipate that Maplebear Inc. will post 1.43 earnings per share for the current year.

Analysts Set New Price Targets

CART has been the subject of several analyst reports. Stifel Nicolaus upped their target price on Maplebear from $55.00 to $64.00 and gave the company a “buy” rating in a report on Friday, August 8th. Wall Street Zen upgraded Maplebear from a “hold” rating to a “buy” rating in a report on Saturday, August 9th. Bank of America upped their target price on Maplebear from $53.00 to $58.00 and gave the company a “neutral” rating in a report on Friday, August 8th. Wells Fargo & Company upped their target price on Maplebear from $47.00 to $55.00 and gave the company an “equal weight” rating in a report on Friday, August 8th. Finally, Jefferies Financial Group increased their price target on Maplebear from $50.00 to $55.00 and gave the stock a “hold” rating in a report on Monday. Nine equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Maplebear has an average rating of “Moderate Buy” and a consensus target price of $55.33.

Insider Activity at Maplebear

In other Maplebear news, insider Daniel Danker sold 10,037 shares of the stock in a transaction dated Friday, July 18th. The stock was sold at an average price of $48.82, for a total value of $490,006.34. Following the sale, the insider owned 470,190 shares of the company’s stock, valued at $22,954,675.80. This trade represents a 2.09% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Levien Meredith A. Kopit sold 4,225 shares of the stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $47.45, for a total value of $200,476.25. Following the completion of the sale, the director directly owned 20,829 shares in the company, valued at $988,336.05. This represents a 16.86% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 4,975,327 shares of company stock worth $237,736,848 over the last ninety days. Company insiders own 26.00% of the company’s stock.

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.