Gotham Asset Management LLC Raises Holdings in Maplebear Inc. (NASDAQ:CART)

Gotham Asset Management LLC increased its position in shares of Maplebear Inc. (NASDAQ:CART) by 3.3% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 300,620 shares of the company’s stock after purchasing an additional 9,646 shares during the quarter. Gotham Asset Management LLC owned approximately 0.12% of Maplebear worth $12,452,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. Janney Montgomery Scott LLC increased its position in shares of Maplebear by 212.1% during the fourth quarter. Janney Montgomery Scott LLC now owns 23,938 shares of the company’s stock worth $992,000 after purchasing an additional 16,267 shares in the last quarter. Cherry Creek Investment Advisors Inc. acquired a new position in Maplebear during the fourth quarter worth $235,000. US Bancorp DE boosted its stake in Maplebear by 22.3% during the fourth quarter. US Bancorp DE now owns 13,077 shares of the company’s stock worth $542,000 after buying an additional 2,387 shares during the last quarter. Nordea Investment Management AB acquired a new position in Maplebear during the fourth quarter worth $2,078,000. Finally, Commonwealth Equity Services LLC acquired a new position in Maplebear during the fourth quarter worth $234,000. 63.09% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Maplebear

In related news, CEO Fidji Simo sold 20,750 shares of the company’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 of the company’s stock, valued at $72,011,190.52. This represents a 1.23% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 value of $223,449.93. Following the completion of the sale, the general counsel now directly owns 484,292 shares of the company’s stock, valued at approximately $20,616,310.44. This trade represents a 1.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 36,165 shares of company stock valued at $1,541,785 in the last three months. 26.00% of the stock is currently owned by company insiders.

Maplebear Stock Performance

CART opened at $43.76 on Monday. Maplebear Inc. has a one year low of $29.84 and a one year high of $53.44. The company has a market cap of $11.49 billion, a P/E ratio of 29.37, a PEG ratio of 1.19 and a beta of 1.19. The business’s 50-day simple moving average is $40.56 and its 200-day simple moving average is $43.53.

Maplebear (NASDAQ:CART) last released its quarterly earnings data on Thursday, May 1st. The company reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.01). Maplebear had a net margin of 13.37% and a return on equity of 13.78%. The business had revenue of $897.00 million during the quarter, compared to analysts’ expectations of $896.86 million. During the same quarter in the previous year, the company posted $0.43 EPS. The company’s revenue was up 9.4% compared to the same quarter last year. As a group, analysts predict that Maplebear Inc. will post 1.43 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on CART shares. Mizuho lowered their price objective on Maplebear from $55.00 to $52.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 26th. BMO Capital Markets boosted their price objective on Maplebear from $48.00 to $49.00 and gave the stock a “market perform” rating in a research note on Wednesday, February 26th. Benchmark reissued a “hold” rating on shares of Maplebear in a research note on Wednesday, February 26th. Oppenheimer lowered their price objective on Maplebear from $65.00 to $60.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 26th. Finally, JPMorgan Chase & Co. lowered their price objective on Maplebear from $50.00 to $44.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 8th. 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. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $50.61.

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.