Amundi Buys 26,938 Shares of Maplebear Inc. $CART

Amundi grew its stake in shares of Maplebear Inc. (NASDAQ:CART) by 27.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 124,755 shares of the company’s stock after buying an additional 26,938 shares during the period. Amundi’s holdings in Maplebear were worth $4,993,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. raised its position in shares of Maplebear by 3.4% during the first quarter. Vanguard Group Inc. now owns 16,514,830 shares of the company’s stock valued at $658,777,000 after buying an additional 546,472 shares during the last quarter. Victory Capital Management Inc. raised its position in shares of Maplebear by 62.8% during the first quarter. Victory Capital Management Inc. now owns 7,368,232 shares of the company’s stock valued at $293,919,000 after buying an additional 2,841,559 shares during the last quarter. T. Rowe Price Investment Management Inc. raised its position in shares of Maplebear by 10.2% during the first quarter. T. Rowe Price Investment Management Inc. now owns 5,226,979 shares of the company’s stock valued at $208,505,000 after buying an additional 482,327 shares during the last quarter. Federated Hermes Inc. raised its position in shares of Maplebear by 15.0% during the first quarter. Federated Hermes Inc. now owns 2,832,384 shares of the company’s stock valued at $112,984,000 after buying an additional 370,120 shares during the last quarter. Finally, Two Sigma Advisers LP raised its position in shares of Maplebear by 59.6% during the fourth quarter. Two Sigma Advisers LP now owns 2,645,500 shares of the company’s stock valued at $109,577,000 after buying an additional 987,700 shares during the last quarter. Institutional investors own 63.09% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Loop Capital lifted their price objective on shares of Maplebear from $52.00 to $58.00 and gave the company a “buy” rating in a research report on Monday, May 19th. Benchmark upgraded shares of Maplebear from a “hold” rating to a “buy” rating and set a $67.00 price target on the stock in a research report on Friday, August 8th. Stifel Nicolaus boosted their price target on shares of Maplebear from $55.00 to $64.00 and gave the stock a “buy” rating in a research report on Friday, August 8th. Needham & Company LLC boosted their price target on shares of Maplebear from $56.00 to $66.00 and gave the stock a “buy” rating in a research report on Friday, August 8th. Finally, Morgan Stanley boosted their price target on shares of Maplebear from $45.00 to $48.00 and gave the stock an “equal weight” rating in a research report on Friday, August 15th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $55.71.

Insider Activity at Maplebear

In other news, insider Daniel Danker sold 10,037 shares of the business’s stock in a transaction on Friday, July 18th. The shares were sold at an average price of $48.82, for a total transaction of $490,006.34. Following the completion of the sale, the insider directly owned 470,190 shares of the company’s stock, valued at approximately $22,954,675.80. The trade was a 2.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Grosvenor L.P. Gcm sold 4,864,272 shares of the business’s stock in a transaction on Friday, July 25th. The shares were sold at an average price of $47.75, for a total transaction of $232,268,988.00. The disclosure for this sale can be found here. Insiders sold a total of 4,971,102 shares of company stock valued at $237,536,372 over the last ninety days. Company insiders own 26.00% of the company’s stock.

Maplebear Stock Up 3.3%

NASDAQ CART opened at $46.99 on Thursday. The company has a fifty day moving average of $46.86 and a two-hundred day moving average of $44.06. The firm has a market capitalization of $12.38 billion, a price-to-earnings ratio of 27.16, a PEG ratio of 1.52 and a beta of 1.21. Maplebear Inc. has a 52 week low of $34.56 and a 52 week high of $53.50.

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