Quantbot Technologies LP Makes New Investment in Maplebear Inc. (NASDAQ:CART)

Quantbot Technologies LP acquired a new position in Maplebear Inc. (NASDAQ:CART) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 71,806 shares of the company’s stock, valued at approximately $2,974,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Victory Capital Management Inc. lifted its stake in shares of Maplebear by 11,501.2% during the fourth quarter. Victory Capital Management Inc. now owns 4,526,673 shares of the company’s stock valued at $187,495,000 after acquiring an additional 4,487,654 shares during the period. Geode Capital Management LLC lifted its stake in shares of Maplebear by 151.7% during the third quarter. Geode Capital Management LLC now owns 2,732,738 shares of the company’s stock valued at $111,361,000 after acquiring an additional 1,647,081 shares during the period. Boston Partners acquired a new position in shares of Maplebear during the fourth quarter valued at $111,506,000. Maverick Capital Ltd. lifted its stake in shares of Maplebear by 19.7% during the third quarter. Maverick Capital Ltd. now owns 2,684,425 shares of the company’s stock valued at $109,363,000 after acquiring an additional 441,156 shares during the period. Finally, State Street Corp lifted its stake in shares of Maplebear by 48.3% during the third quarter. State Street Corp now owns 2,552,617 shares of the company’s stock valued at $103,994,000 after acquiring an additional 831,795 shares during the period. Institutional investors and hedge funds own 63.09% of the company’s stock.

Insider Activity at Maplebear

In related news, CAO Alan Ramsay sold 2,314 shares of the stock in a transaction that occurred 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 of the company’s stock, valued at approximately $3,953,283.88. This represents a 2.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Fidji Simo sold 2,033 shares of the stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $40.00, for a total value of $81,320.00. Following the transaction, the chief executive officer now directly owns 1,654,559 shares of the company’s stock, valued at $66,182,360. This trade represents a 0.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 25,097 shares of company stock valued at $1,087,094. Insiders own 36.00% of the company’s stock.

Analyst Upgrades and Downgrades

CART has been the topic of several research reports. Oppenheimer cut their price target on Maplebear from $65.00 to $60.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 26th. Benchmark reiterated a “hold” rating on shares of Maplebear in a report on Wednesday, February 26th. Seaport Res Ptn upgraded Maplebear to a “strong-buy” rating in a report on Wednesday, February 12th. Morgan Stanley upped their price objective on Maplebear from $44.00 to $45.00 and gave the company an “equal weight” rating in a report on Wednesday, February 26th. Finally, BMO Capital Markets upped their price objective on Maplebear from $48.00 to $49.00 and gave the company a “market perform” rating in a report on Wednesday, February 26th. Thirteen analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $50.52.

Maplebear Stock Performance

NASDAQ:CART opened at $38.90 on Friday. The stock has a 50-day simple moving average of $45.10 and a 200 day simple moving average of $43.27. Maplebear Inc. has a 52-week low of $29.84 and a 52-week high of $53.44. The company has a market cap of $10.29 billion, a PE ratio of 26.11, a PEG ratio of 1.19 and a beta of 1.34.

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

Maplebear Profile

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.