Mackenzie Financial Corp Acquires Shares of 349,720 Maplebear Inc. (NASDAQ:CART)

Mackenzie Financial Corp acquired a new stake in Maplebear Inc. (NASDAQ:CART) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 349,720 shares of the company’s stock, valued at approximately $8,208,000. Mackenzie Financial Corp owned approximately 0.12% of Maplebear at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. FMR LLC bought a new position in shares of Maplebear in the third quarter valued at $56,424,000. Blackstone Inc. bought a new position in shares of Maplebear during the third quarter valued at about $17,369,000. KPCB DGF II Associates LLC bought a new position in shares of Maplebear during the third quarter valued at about $119,544,000. Monashee Investment Management LLC bought a new position in shares of Maplebear during the third quarter valued at about $6,069,000. Finally, Hudson Bay Capital Management LP bought a new position in shares of Maplebear during the third quarter valued at about $904,000. 63.09% of the stock is owned by institutional investors.

Insider Activity

In other news, major shareholder Us (Ttgp) Ltd. Sc acquired 1,036,683 shares of the business’s stock in a transaction dated Tuesday, February 20th. The stock was bought at an average cost of $27.90 per share, for a total transaction of $28,923,455.70. Following the completion of the transaction, the insider now owns 1,036,683 shares of the company’s stock, valued at $28,923,455.70. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Maplebear news, CFO Nick Giovanni sold 10,000 shares of Maplebear stock in a transaction that occurred on Wednesday, April 17th. The shares were sold at an average price of $36.97, for a total transaction of $369,700.00. Following the completion of the sale, the chief financial officer now directly owns 576,977 shares in the company, valued at $21,330,839.69. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder Us (Ttgp) Ltd. Sc bought 1,036,683 shares of the company’s stock in a transaction on Tuesday, February 20th. The shares were bought at an average price of $27.90 per share, with a total value of $28,923,455.70. Following the completion of the transaction, the insider now owns 1,036,683 shares of the company’s stock, valued at $28,923,455.70. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 2,157,745 shares of company stock worth $61,771,955 and sold 1,008,592 shares worth $28,770,988. 4.02% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on CART. Macquarie began coverage on shares of Maplebear in a research report on Monday, March 25th. They set an “outperform” rating and a $42.00 price target on the stock. Loop Capital began coverage on shares of Maplebear in a research report on Friday. They set a “buy” rating and a $46.00 price target on the stock. Wolfe Research raised their price target on shares of Maplebear from $35.00 to $39.00 and gave the company an “outperform” rating in a research report on Tuesday, March 5th. Fox Advisors lowered shares of Maplebear from an “overweight” rating to an “equal weight” rating in a research report on Monday, April 1st. Finally, Sanford C. Bernstein raised shares of Maplebear from a “market perform” rating to an “outperform” rating and raised their price target for the company from $30.00 to $43.00 in a research report on Thursday, March 14th. Ten investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $38.16.

Maplebear Trading Down 3.2 %

CART opened at $35.23 on Friday. The firm has a 50-day moving average price of $34.42 and a 200-day moving average price of $28.22. Maplebear Inc. has a twelve month low of $22.13 and a twelve month high of $42.95.

Maplebear (NASDAQ:CART) last released its quarterly earnings data on Tuesday, February 13th. The company reported $0.44 EPS for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.52. The firm had revenue of $803.00 million during the quarter, compared to the consensus estimate of $804.62 million. The business’s quarterly revenue was up 6.1% compared to the same quarter last year. Equities research analysts anticipate that Maplebear Inc. will post 0.53 EPS for the current fiscal year.

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.