Investment House LLC Makes New Investment in Maplebear Inc. (NASDAQ:CART)

Investment House LLC bought a new stake in shares of Maplebear Inc. (NASDAQ:CART) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 46,808 shares of the company’s stock, valued at approximately $1,099,000.

Several other large investors also recently modified their holdings of CART. Signaturefd LLC bought a new stake in shares of Maplebear in the third quarter valued at approximately $30,000. International Assets Investment Management LLC purchased a new stake in shares of Maplebear during the fourth quarter worth $110,000. Jump Financial LLC bought a new position in shares of Maplebear in the third quarter worth $245,000. Alberta Investment Management Corp purchased a new position in Maplebear during the 3rd quarter valued at about $252,000. Finally, EFG Asset Management North America Corp. purchased a new position in Maplebear during the third quarter valued at approximately $270,000. Hedge funds and other institutional investors own 63.09% of the company’s stock.

Maplebear Stock Performance

Shares of CART opened at $34.48 on Tuesday. Maplebear Inc. has a 52 week low of $22.13 and a 52 week high of $42.95. The business has a 50-day simple moving average of $35.33 and a two-hundred day simple moving average of $28.62.

Maplebear (NASDAQ:CART) last announced its quarterly earnings data on Tuesday, February 13th. The company reported $0.44 EPS for the quarter, beating the consensus estimate of ($0.08) by $0.52. The firm had revenue of $803.00 million for the quarter, compared to the consensus estimate of $804.62 million. The business’s revenue for the quarter was up 6.1% on a year-over-year basis. Analysts forecast that Maplebear Inc. will post 0.53 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have recently commented on CART shares. Benchmark lowered Maplebear from a “buy” rating to a “hold” rating in a report on Tuesday, January 23rd. Robert W. Baird lifted their price objective on shares of Maplebear from $31.00 to $44.00 and gave the stock an “outperform” rating in a report on Monday, April 1st. Needham & Company LLC restated a “hold” rating on shares of Maplebear in a research report on Tuesday, April 23rd. Loop Capital started coverage on Maplebear in a research note on Friday, April 19th. They set a “buy” rating and a $46.00 price target for the company. Finally, Wolfe Research increased their price objective on Maplebear from $35.00 to $39.00 and gave the company an “outperform” rating in a research report on Tuesday, March 5th. Ten analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, Maplebear currently has an average rating of “Moderate Buy” and an average target price of $38.79.

Insider Activity

In related news, major shareholder Us (Ttgp) Ltd. Sc purchased 1,036,683 shares of Maplebear stock in a transaction on Tuesday, February 20th. The shares were bought at an average cost of $27.90 per share, for a total transaction of $28,923,455.70. Following the acquisition, the insider now owns 1,036,683 shares in the company, valued at approximately $28,923,455.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, major shareholder Us (Ttgp) Ltd. Sc acquired 1,036,683 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The shares were acquired at an average cost of $27.90 per share, with a total value of $28,923,455.70. Following the acquisition, the insider now directly owns 1,036,683 shares of the company’s stock, valued at $28,923,455.70. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CAO Alan Ramsay sold 12,113 shares of the stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $34.33, for a total value of $415,839.29. Following the transaction, the chief accounting officer now owns 114,205 shares of the company’s stock, valued at $3,920,657.65. The disclosure for this sale can be found here. Over the last quarter, insiders have purchased 2,157,745 shares of company stock worth $61,771,955 and have sold 1,027,279 shares worth $29,422,416.

About Maplebear

Maplebear Inc, doing business as Instacart, provides online grocery shopping services to households in North America. It sells and delivers grocery products. The company offers its services through a mobile application and website. It also provides software-as-a-service solutions to retailers. The company was incorporated in 2012 and is based in San Francisco, California.