Nordea Investment Management AB Buys 67,374 Shares of Maplebear Inc. $CART

Nordea Investment Management AB increased its stake in Maplebear Inc. (NASDAQ:CART) by 128.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 119,828 shares of the company’s stock after acquiring an additional 67,374 shares during the period. Nordea Investment Management AB’s holdings in Maplebear were worth $4,254,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of CART. State Street Corp lifted its position in Maplebear by 1.3% in the second quarter. State Street Corp now owns 5,101,870 shares of the company’s stock valued at $230,809,000 after purchasing an additional 66,588 shares during the last quarter. Boston Partners grew its holdings in shares of Maplebear by 93.3% in the second quarter. Boston Partners now owns 3,961,838 shares of the company’s stock worth $179,261,000 after purchasing an additional 1,911,771 shares during the last quarter. Viking Global Investors LP purchased a new position in shares of Maplebear in the second quarter worth $169,782,000. William Blair Investment Management LLC bought a new stake in Maplebear during the 2nd quarter valued at $151,364,000. Finally, Federated Hermes Inc. raised its holdings in Maplebear by 12.3% during the 2nd quarter. Federated Hermes Inc. now owns 3,179,537 shares of the company’s stock valued at $143,842,000 after buying an additional 347,153 shares during the last quarter. 63.09% of the stock is currently owned by hedge funds and other institutional investors.

Maplebear Price Performance

CART stock opened at $39.41 on Friday. Maplebear Inc. has a 1 year low of $34.78 and a 1 year high of $53.50. The firm has a 50-day moving average of $42.92 and a 200 day moving average of $43.41. The company has a market cap of $10.35 billion, a P/E ratio of 21.65, a PEG ratio of 1.01 and a beta of 0.97.

Maplebear (NASDAQ:CART) last posted its earnings results on Monday, November 10th. The company reported $0.51 earnings per share for the quarter, topping analysts’ consensus estimates of $0.50 by $0.01. Maplebear had a return on equity of 15.72% and a net margin of 14.09%.The firm had revenue of $939.00 million for the quarter, compared to the consensus estimate of $933.76 million. During the same quarter in the prior year, the business earned $0.42 EPS. The business’s revenue for the quarter was up 10.2% on a year-over-year basis. On average, equities research analysts expect that Maplebear Inc. will post 1.43 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Piper Sandler lowered shares of Maplebear from an “overweight” rating to a “neutral” rating and set a $41.00 price target on the stock. in a report on Friday, October 3rd. Wall Street Zen cut Maplebear from a “buy” rating to a “hold” rating in a research note on Sunday. Robert W. Baird reduced their price target on Maplebear from $60.00 to $50.00 and set an “outperform” rating on the stock in a report on Wednesday, October 1st. Argus assumed coverage on Maplebear in a research report on Wednesday, January 7th. They set a “buy” rating and a $52.00 price target for the company. Finally, Jefferies Financial Group lifted their price objective on Maplebear from $41.00 to $48.00 and gave the stock a “hold” rating in a research report on Thursday, December 11th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eleven have assigned a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $51.73.

Insiders Place Their Bets

In other Maplebear news, General Counsel Morgan Fong sold 4,914 shares of the stock in a transaction on Monday, December 22nd. The stock was sold at an average price of $45.21, for a total value of $222,161.94. Following the completion of the transaction, the general counsel owned 404,940 shares in the company, valued at approximately $18,307,337.40. This represents a 1.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 26.00% of the stock is currently owned by insiders.

Maplebear Profile

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.