Price T Rowe Associates Inc. MD Acquires 249,259 Shares of Maplebear Inc. (NASDAQ:CART)

Price T Rowe Associates Inc. MD increased its holdings in shares of Maplebear Inc. (NASDAQ:CART) by 25.6% during the fourth quarter, HoldingsChannel.com reports. The fund owned 1,221,676 shares of the company’s stock after buying an additional 249,259 shares during the quarter. Price T Rowe Associates Inc. MD’s holdings in Maplebear were worth $50,603,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Victory Capital Management Inc. increased its stake in shares of Maplebear by 11,501.2% during the 4th quarter. Victory Capital Management Inc. now owns 4,526,673 shares of the company’s stock worth $187,495,000 after purchasing an additional 4,487,654 shares during the last quarter. Boston Partners purchased a new stake in Maplebear in the fourth quarter worth $111,506,000. Vanguard Group Inc. raised its stake in shares of Maplebear by 16.8% in the fourth quarter. Vanguard Group Inc. now owns 15,968,358 shares of the company’s stock valued at $661,409,000 after buying an additional 2,300,288 shares during the period. Norges Bank purchased a new position in shares of Maplebear during the 4th quarter valued at $95,162,000. Finally, Marshall Wace LLP grew its stake in shares of Maplebear by 199.2% during the 4th quarter. Marshall Wace LLP now owns 1,758,380 shares of the company’s stock worth $72,832,000 after acquiring an additional 1,170,634 shares during the period. Hedge funds and other institutional investors own 63.09% of the company’s stock.

Analyst Ratings Changes

CART has been the topic of several recent research reports. Seaport Res Ptn raised shares of Maplebear to a “strong-buy” rating in a report on Wednesday, February 12th. JMP Securities reaffirmed a “market outperform” rating and issued a $55.00 price objective on shares of Maplebear in a report on Friday, April 11th. Bank of America boosted their target price on shares of Maplebear from $51.00 to $53.00 and gave the company a “neutral” rating in a report on Tuesday, February 25th. Mizuho cut their price target on Maplebear from $55.00 to $52.00 and set an “outperform” rating for the company in a report on Wednesday, February 26th. Finally, BTIG Research upgraded Maplebear from a “neutral” rating to a “buy” rating and set a $58.00 price objective on the stock in a research note on Tuesday, January 14th. Twelve investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $50.48.

Insiders Place Their Bets

In other news, General Counsel Morgan Fong sold 5,249 shares of the company’s stock in a transaction dated Monday, April 21st. The shares were sold at an average price of $42.57, for a total transaction of $223,449.93. Following the completion of the transaction, the general counsel now directly owns 484,292 shares of the company’s stock, valued at approximately $20,616,310.44. This represents a 1.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Fidji Simo sold 20,750 shares of the firm’s stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $43.31, for a total value of $898,682.50. Following the completion of the sale, the chief executive officer now directly owns 1,662,692 shares in the company, valued at $72,011,190.52. The trade was a 1.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 36,165 shares of company stock valued at $1,541,785 in the last ninety days. Company insiders own 26.00% of the company’s stock.

Maplebear Stock Down 0.3 %

Shares of NASDAQ:CART opened at $39.82 on Wednesday. The stock has a market cap of $10.45 billion, a PE ratio of 26.72, a PEG ratio of 1.19 and a beta of 1.20. The company’s fifty day moving average is $40.61 and its 200 day moving average is $43.49. Maplebear Inc. has a 52 week low of $29.84 and a 52 week high of $53.44.

Maplebear (NASDAQ:CART) last released its quarterly earnings data on Tuesday, February 25th. The company reported $0.53 EPS for the quarter, topping the consensus estimate of $0.37 by $0.16. The firm had revenue of $883.00 million for the quarter, compared to the consensus estimate of $889.98 million. Maplebear had a return on equity of 13.78% and a net margin of 13.37%. Sell-side analysts anticipate that Maplebear Inc. will post 1.43 EPS 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.