Aurora Investment Counsel Acquires Shares of 57,995 Maplebear Inc. $CART

Aurora Investment Counsel bought a new position in Maplebear Inc. (NASDAQ:CART) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 57,995 shares of the company’s stock, valued at approximately $2,132,000.

A number of other institutional investors have also recently made changes to their positions in the company. Securian Asset Management Inc. grew its stake in shares of Maplebear by 2.1% during the 2nd quarter. Securian Asset Management Inc. now owns 12,509 shares of the company’s stock worth $566,000 after acquiring an additional 252 shares during the period. Smartleaf Asset Management LLC boosted its position in Maplebear by 9.6% during the second quarter. Smartleaf Asset Management LLC now owns 2,978 shares of the company’s stock worth $134,000 after purchasing an additional 261 shares during the period. Rafferty Asset Management LLC increased its stake in shares of Maplebear by 2.5% in the second quarter. Rafferty Asset Management LLC now owns 11,000 shares of the company’s stock worth $498,000 after purchasing an additional 273 shares in the last quarter. Hantz Financial Services Inc. raised its position in shares of Maplebear by 78.6% in the third quarter. Hantz Financial Services Inc. now owns 884 shares of the company’s stock valued at $32,000 after purchasing an additional 389 shares during the period. Finally, ProShare Advisors LLC lifted its stake in shares of Maplebear by 5.7% during the 2nd quarter. ProShare Advisors LLC now owns 7,284 shares of the company’s stock valued at $330,000 after buying an additional 390 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 4,914 shares of Maplebear stock in a transaction that occurred on Monday, December 22nd. The shares were sold at an average price of $45.21, for a total transaction of $222,161.94. Following the completion of the sale, the general counsel directly owned 404,940 shares in the company, valued at $18,307,337.40. The trade was a 1.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 26.00% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Maplebear in a research note on Monday, December 29th. Wells Fargo & Company reduced their price target on Maplebear from $47.00 to $43.00 and set an “equal weight” rating for the company in a research report on Friday, February 13th. Argus started coverage on Maplebear in a research note on Wednesday, January 7th. They set a “buy” rating and a $52.00 price objective on the stock. Benchmark cut their target price on Maplebear from $60.00 to $53.00 and set a “buy” rating for the company in a research note on Tuesday, February 10th. Finally, Needham & Company LLC lifted their target price on Maplebear from $50.00 to $55.00 and gave the company a “buy” rating in a report on Friday, February 13th. Fifteen equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Maplebear currently has a consensus rating of “Hold” and an average target price of $51.38.

Maplebear Stock Up 1.9%

NASDAQ:CART opened at $36.25 on Friday. The stock has a market cap of $9.52 billion, a P/E ratio of 22.80, a PEG ratio of 0.55 and a beta of 1.00. The business’s 50-day moving average price is $40.33 and its two-hundred day moving average price is $41.41. Maplebear Inc. has a twelve month low of $32.73 and a twelve month high of $53.50.

About Maplebear

Maplebear, Inc, doing business as Instacart, operates a leading online grocery and essentials marketplace that connects consumers, retail partners and personal shoppers through its digital platform. The company enables customers to order groceries, household items and specialty products for same-day or scheduled delivery, as well as in-store pickup. By integrating its technology with retailers’ existing inventory and point-of-sale systems, Maplebear streamlines the shopping experience and provides real-time availability and pricing.

Founded in 2012 and headquartered in San Francisco, Maplebear has grown from a regional startup to a publicly traded company listed on NASDAQ under the ticker CART.