Lansforsakringar Fondforvaltning AB publ Invests $659,000 in Maplebear Inc. $CART

Lansforsakringar Fondforvaltning AB publ purchased a new stake in shares of Maplebear Inc. (NASDAQ:CART) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 17,593 shares of the company’s stock, valued at approximately $659,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Viking Global Investors LP purchased a new position in Maplebear in the 2nd quarter worth approximately $169,782,000. Marshall Wace LLP bought a new position in Maplebear in the 4th quarter valued at approximately $126,206,000. Holocene Advisors LP purchased a new stake in Maplebear during the 3rd quarter valued at $90,167,000. Norges Bank purchased a new stake in Maplebear during the 4th quarter valued at $97,221,000. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Maplebear by 114.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,792,673 shares of the company’s stock worth $170,594,000 after purchasing an additional 2,026,567 shares in the last quarter. Institutional investors own 63.09% of the company’s stock.

Maplebear Stock Performance

Shares of CART opened at $45.78 on Friday. The firm has a fifty day simple moving average of $42.33 and a two-hundred day simple moving average of $40.50. The firm has a market cap of $10.76 billion, a PE ratio of 25.58, a P/E/G ratio of 0.63 and a beta of 0.75. Maplebear Inc. has a 1-year low of $32.73 and a 1-year high of $53.50.

Maplebear (NASDAQ:CART) last released its quarterly earnings results on Wednesday, May 6th. The company reported $0.57 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.01). Maplebear had a return on equity of 18.67% and a net margin of 12.50%.The firm had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1.01 billion. During the same quarter last year, the business earned $0.37 earnings per share. The business’s quarterly revenue was up 13.6% on a year-over-year basis. As a group, research analysts forecast that Maplebear Inc. will post 2.45 EPS for the current fiscal year.

Wall Street Analyst Weigh In

CART has been the subject of several recent analyst reports. Weiss Ratings upgraded Maplebear from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, May 11th. Jefferies Financial Group raised Maplebear from a “hold” rating to a “buy” rating and increased their price objective for the company from $38.00 to $45.00 in a research report on Monday, March 30th. Needham & Company LLC reiterated a “buy” rating and issued a $55.00 price objective on shares of Maplebear in a report on Thursday, May 7th. Barclays boosted their target price on Maplebear from $65.00 to $69.00 and gave the stock an “overweight” rating in a research report on Thursday, May 7th. Finally, Raymond James Financial upgraded shares of Maplebear from a “hold” rating to a “moderate buy” rating in a research note on Thursday, April 9th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $51.09.

Insider Transactions at Maplebear

In other Maplebear news, CAO Lisa Blackwood-Kapral sold 9,390 shares of the business’s stock in a transaction dated Wednesday, April 15th. The stock was sold at an average price of $40.25, for a total transaction of $377,947.50. Following the completion of the sale, the chief accounting officer directly owned 58,971 shares in the company, valued at $2,373,582.75. The trade was a 13.74% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ravi Gupta sold 181,000 shares of the business’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $41.51, for a total value of $7,513,310.00. Following the sale, the director owned 741,523 shares of the company’s stock, valued at approximately $30,780,619.73. This represents a 19.62% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 24.00% of the stock is currently owned by corporate insiders.

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.