Voleon Capital Management LP Invests $5.47 Million in Maplebear Inc. (NASDAQ:CART)

Voleon Capital Management LP acquired a new position in shares of Maplebear Inc. (NASDAQ:CART) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 131,958 shares of the company’s stock, valued at approximately $5,466,000.

Other large investors have also modified their holdings of the company. Vanguard Group Inc. boosted its holdings in Maplebear by 16.8% in the 4th quarter. Vanguard Group Inc. now owns 15,968,358 shares of the company’s stock valued at $661,409,000 after purchasing an additional 2,300,288 shares during the period. T. Rowe Price Investment Management Inc. grew its position in shares of Maplebear by 15.5% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 4,744,652 shares of the company’s stock worth $196,524,000 after buying an additional 635,930 shares during the period. Victory Capital Management Inc. grew its position 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 buying an additional 4,487,654 shares during the period. Boston Partners acquired a new stake in shares of Maplebear during the 4th quarter worth approximately $111,506,000. Finally, Federated Hermes Inc. boosted its stake in Maplebear by 22.9% during the 4th quarter. Federated Hermes Inc. now owns 2,462,264 shares of the company’s stock worth $102,035,000 after acquiring an additional 458,243 shares during the last quarter. 63.09% of the stock is owned by institutional investors.

Maplebear Price Performance

Shares of CART opened at $39.82 on Wednesday. The firm has a 50 day simple moving average of $40.61 and a two-hundred day simple moving average of $43.49. The company has a market cap of $10.45 billion, a P/E ratio of 26.72, a P/E/G ratio of 1.19 and a beta of 1.20. Maplebear Inc. has a one year low of $29.84 and a one year high of $53.44.

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

Insiders Place Their Bets

In related news, CEO Fidji Simo sold 20,750 shares of the business’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 sale, the chief executive officer now owns 1,662,692 shares of the company’s stock, valued at $72,011,190.52. The trade was a 1.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, General Counsel Morgan Fong sold 5,249 shares of the business’s stock in a transaction on Monday, April 21st. The stock was sold at an average price of $42.57, for a total transaction of $223,449.93. Following the completion of the sale, the general counsel now directly owns 484,292 shares in the company, valued at approximately $20,616,310.44. This represents a 1.07 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 36,165 shares of company stock valued at $1,541,785. 26.00% of the stock is currently owned by insiders.

Analysts Set New Price Targets

CART has been the topic of several recent analyst reports. Oppenheimer reduced their price objective on shares of Maplebear from $65.00 to $60.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 26th. Macquarie boosted their price objective on shares of Maplebear from $52.00 to $55.00 and gave the stock an “outperform” rating in a research report on Thursday, February 27th. Wells Fargo & Company cut their price objective on shares of Maplebear from $47.00 to $44.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 3rd. Seaport Res Ptn upgraded shares of Maplebear to a “strong-buy” rating in a report on Wednesday, February 12th. Finally, Loop Capital lowered their target price on shares of Maplebear from $56.00 to $52.00 and set a “buy” rating on the stock in a report on Thursday, March 6th. Twelve investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $50.48.

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.