Taika Capital LP Makes New $747,000 Investment in Maplebear Inc. (NASDAQ:CART)

Taika Capital LP acquired a new position in shares of Maplebear Inc. (NASDAQ:CART) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 18,041 shares of the company’s stock, valued at approximately $747,000.

Several other hedge funds also recently added to or reduced their stakes in the stock. Jones Financial Companies Lllp grew its holdings in shares of Maplebear by 46.6% during the fourth quarter. Jones Financial Companies Lllp now owns 698 shares of the company’s stock valued at $29,000 after purchasing an additional 222 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new position in Maplebear during the 3rd quarter worth $33,000. Allworth Financial LP grew its stake in Maplebear by 101.4% during the 4th quarter. Allworth Financial LP now owns 834 shares of the company’s stock worth $37,000 after buying an additional 420 shares during the last quarter. Huntington National Bank acquired a new stake in Maplebear in the third quarter worth $54,000. Finally, Cullen Frost Bankers Inc. bought a new stake in Maplebear in the fourth quarter valued at $62,000. 63.09% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Maplebear

In other news, CEO Fidji Simo sold 20,750 shares of the company’s stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $43.31, for a total value of $898,682.50. Following the transaction, the chief executive officer now directly owns 1,662,692 shares of the company’s stock, valued at approximately $72,011,190.52. This represents a 1.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Alan Ramsay sold 2,314 shares of the company’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $46.28, for a total transaction of $107,091.92. Following the completion of the transaction, the chief accounting officer now directly owns 85,421 shares in the company, valued at $3,953,283.88. This trade represents a 2.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 46,061 shares of company stock valued at $1,987,318. Company insiders own 36.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on CART. Stifel Nicolaus raised their target price on Maplebear from $56.00 to $57.00 and gave the company a “buy” rating in a research note on Wednesday, February 26th. Oppenheimer cut their target price on Maplebear from $65.00 to $60.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 26th. Mizuho cut their target price on Maplebear from $55.00 to $52.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 26th. Wells Fargo & Company began coverage on Maplebear in a research note on Friday, January 10th. They issued an “equal weight” rating and a $47.00 target price on the stock. Finally, Benchmark reiterated a “hold” rating on shares of Maplebear in a research note on Wednesday, February 26th. Thirteen research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $50.21.

Maplebear Trading Up 5.7 %

NASDAQ:CART opened at $39.90 on Monday. The firm has a market capitalization of $10.56 billion, a price-to-earnings ratio of 26.78, a PEG ratio of 1.19 and a beta of 1.34. Maplebear Inc. has a 1-year low of $29.84 and a 1-year high of $53.44. The business’s fifty day moving average price is $45.99 and its 200 day moving average price is $43.08.

Maplebear (NASDAQ:CART) last posted its quarterly earnings results on Tuesday, February 25th. The company reported $0.53 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.16. The firm had revenue of $883.00 million for the quarter, compared to analyst estimates of $889.98 million. Maplebear had a return on equity of 13.78% and a net margin of 13.37%. Equities analysts forecast that Maplebear Inc. will post 1.43 earnings per share for the current year.

About Maplebear

Maplebear Inc, doing business as Instacart, engages in the provision of online grocery shopping services to households in North America. It sells and delivers grocery products, as well as pickup services through a mobile application and website. It also operates virtual convenience stores; and provides software-as-a-service solutions to retailers.