LSV Asset Management Invests $2.40 Million in Maplebear Inc. $CART

LSV Asset Management acquired a new stake in Maplebear Inc. (NASDAQ:CART) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 65,203 shares of the company’s stock, valued at approximately $2,397,000.

Other hedge funds also recently bought and sold shares of the company. Rhumbline Advisers boosted its holdings in Maplebear by 6.1% in the 3rd quarter. Rhumbline Advisers now owns 460,698 shares of the company’s stock valued at $16,935,000 after purchasing an additional 26,352 shares during the period. Versor Investments LP raised its position in shares of Maplebear by 277.4% in the third quarter. Versor Investments LP now owns 21,888 shares of the company’s stock worth $805,000 after buying an additional 16,088 shares in the last quarter. ProShare Advisors LLC boosted its stake in Maplebear by 7.7% during the third quarter. ProShare Advisors LLC now owns 7,842 shares of the company’s stock valued at $288,000 after buying an additional 558 shares during the period. Alps Advisors Inc. bought a new stake in Maplebear during the third quarter valued at $362,000. Finally, State of Michigan Retirement System grew its position in Maplebear by 11.1% during the third quarter. State of Michigan Retirement System now owns 43,900 shares of the company’s stock worth $1,614,000 after buying an additional 4,400 shares in the last quarter. Hedge funds and other institutional investors own 63.09% of the company’s stock.

Maplebear Stock Performance

Shares of Maplebear stock opened at $36.30 on Tuesday. Maplebear Inc. has a 52-week low of $32.73 and a 52-week high of $53.50. The company has a fifty day moving average of $41.02 and a 200-day moving average of $41.69. The stock has a market capitalization of $9.53 billion, a price-to-earnings ratio of 22.83, a price-to-earnings-growth ratio of 0.94 and a beta of 1.00.

Insider Transactions at Maplebear

In other news, General Counsel Morgan Fong sold 4,914 shares of the business’s stock in a transaction dated 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 sale, the general counsel owned 404,940 shares of the company’s stock, valued at approximately $18,307,337.40. The trade was a 1.20% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 26.00% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of brokerages have recently issued reports on CART. Weiss Ratings reiterated a “hold (c)” rating on shares of Maplebear in a research report on Monday, December 29th. Argus assumed coverage on shares of Maplebear in a research report on Wednesday, January 7th. They set a “buy” rating and a $52.00 target price for the company. Jefferies Financial Group boosted their price target on shares of Maplebear from $41.00 to $48.00 and gave the stock a “hold” rating in a research note on Thursday, December 11th. Wells Fargo & Company lowered their price objective on shares of Maplebear from $47.00 to $43.00 and set an “equal weight” rating on the stock in a research report on Friday. Finally, Benchmark dropped their price objective on shares of Maplebear from $60.00 to $53.00 and set a “buy” rating for the company in a report on Tuesday, February 10th. Fifteen research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, Maplebear presently has a consensus rating of “Hold” and a consensus target price of $51.38.

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.