Maplebear Inc. $CART Stock: Nisa Investment Advisors LLC Grows Holdings

Nisa Investment Advisors LLC grew its stake in shares of Maplebear Inc. (NASDAQ:CART) by 26.2% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 113,371 shares of the company’s stock after purchasing an additional 23,504 shares during the period. Nisa Investment Advisors LLC’s holdings in Maplebear were worth $4,889,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of CART. BlackRock Inc. bought a new position in shares of Maplebear in the second quarter valued at approximately $750,477,000. Dimensional Fund Advisors LP boosted its position in shares of Maplebear by 31.4% during the first quarter. Dimensional Fund Advisors LP now owns 4,981,960 shares of the company’s stock valued at $186,618,000 after buying an additional 1,189,287 shares during the last quarter. William Blair Investment Management LLC bought a new stake in Maplebear during the second quarter worth $86,462,000. Renaissance Technologies LLC grew its holdings in Maplebear by 10.0% during the first quarter. Renaissance Technologies LLC now owns 1,567,054 shares of the company’s stock worth $58,702,000 after buying an additional 142,600 shares in the last quarter. Finally, Bank of America Corp DE grew its holdings in Maplebear by 16.5% during the first quarter. Bank of America Corp DE now owns 1,562,097 shares of the company’s stock worth $58,516,000 after buying an additional 221,036 shares in the last quarter. 63.09% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on CART. Wall Street Zen lowered Maplebear from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. Wells Fargo & Company lifted their price objective on shares of Maplebear from $54.00 to $56.00 and gave the stock an “equal weight” rating in a report on Monday, October 5th. Guggenheim upped their target price on shares of Maplebear from $44.00 to $46.00 and gave the stock a “neutral” rating in a research note on Friday, August 7th. Argus lifted their target price on shares of Maplebear from $50.00 to $58.00 and gave the stock a “buy” rating in a research report on Wednesday, September 2nd. Finally, Citigroup boosted their target price on Maplebear from $50.00 to $58.00 and gave the stock a “buy” rating in a research note on Monday, August 10th. Fourteen investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $58.24.

Maplebear Price Performance

Shares of NASDAQ CART opened at $56.44 on Friday. Maplebear Inc. has a one year low of $32.73 and a one year high of $57.98. The business’s fifty day moving average price is $48.20 and its 200-day moving average price is $45.19. The stock has a market capitalization of $13.07 billion, a PE ratio of 30.84, a P/E/G ratio of 1.00 and a beta of 0.87.

Maplebear (NASDAQ:CART) last posted its quarterly earnings results on Thursday, August 6th. The company reported $0.45 earnings per share for the quarter, missing the consensus estimate of $0.54 by ($0.09). Maplebear had a return on equity of 20.19% and a net margin of 11.97%. The firm had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter in the previous year, the company posted $0.41 EPS. The firm’s revenue was up 14.1% compared to the same quarter last year. As a group, equities analysts expect that Maplebear Inc. will post 2.33 EPS for the current fiscal year.

Insider Activity at Maplebear

In other Maplebear news, Director Ravi Gupta sold 150,000 shares of the stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $50.61, for a total transaction of $7,591,500.00. Following the completion of the transaction, the director owned 591,523 shares in the company, valued at $29,936,979.03. This trade represents a 20.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Lisa Blackwood-Kapral sold 3,016 shares of Maplebear stock in a transaction dated Thursday, October 15th. The stock was sold at an average price of $49.58, for a total transaction of $149,533.28. Following the completion of the transaction, the chief accounting officer owned 34,699 shares of the company’s stock, valued at $1,720,376.42. The trade was a 8.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 192,813 shares of company stock worth $9,629,020. Company insiders own 24.00% of the company’s stock.

Maplebear Profile

Maplebear Inc, doing business as Instacart, operates a technology-enabled grocery marketplace that connects consumers with retailers and personal shoppers. Through its website and mobile applications, customers can order groceries and other household products for delivery or pickup from participating supermarkets, specialty food stores, convenience retailers and other merchants.

The company also provides retailers with e-commerce, fulfillment and advertising solutions. Its platform supports online storefronts, order management, delivery logistics, customer engagement and data-driven marketing, allowing retail partners to offer digital shopping services and reach consumers through Instacart’s marketplace.

Founded in 2012, Maplebear serves customers across the United States and Canada.