Capital Investment Counsel Inc Purchases Shares of 10,000 Maplebear Inc. (NASDAQ:CART)

Capital Investment Counsel Inc purchased a new stake in Maplebear Inc. (NASDAQ:CART) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 10,000 shares of the company’s stock, valued at approximately $235,000.

Several other large investors also recently made changes to their positions in CART. SC US Ttgp LTD. bought a new stake in Maplebear in the 3rd quarter valued at $1,180,490,000. KPCB DGF II Associates LLC acquired a new position in shares of Maplebear during the third quarter worth about $119,544,000. Canaan Partners IX LLC bought a new position in shares of Maplebear during the fourth quarter worth about $87,508,000. Technology Crossover Management XI Ltd. acquired a new stake in Maplebear in the 3rd quarter valued at approximately $80,163,000. Finally, FMR LLC bought a new stake in Maplebear in the 3rd quarter valued at approximately $56,424,000. Institutional investors own 63.09% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Needham & Company LLC reiterated a “hold” rating on shares of Maplebear in a report on Tuesday, April 23rd. Oppenheimer boosted their price target on shares of Maplebear from $36.00 to $48.00 and gave the stock an “outperform” rating in a research report on Monday. Benchmark downgraded shares of Maplebear from a “buy” rating to a “hold” rating in a research note on Tuesday, January 23rd. Moffett Nathanson reaffirmed a “neutral” rating and issued a $37.00 target price (up previously from $36.00) on shares of Maplebear in a research report on Thursday, April 11th. Finally, Barclays increased their price target on Maplebear from $40.00 to $41.00 and gave the company an “overweight” rating in a research report on Wednesday, February 14th. Ten research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, Maplebear has an average rating of “Moderate Buy” and an average price target of $38.79.

Maplebear Price Performance

Shares of NASDAQ:CART opened at $34.48 on Tuesday. The business’s 50 day simple moving average is $35.33 and its 200 day simple moving average is $28.62. Maplebear Inc. has a 1 year low of $22.13 and a 1 year high of $42.95.

Maplebear (NASDAQ:CART) last posted its quarterly earnings data on Tuesday, February 13th. The company reported $0.44 earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.52. The firm had revenue of $803.00 million for the quarter, compared to the consensus estimate of $804.62 million. The firm’s revenue for the quarter was up 6.1% compared to the same quarter last year. On average, equities analysts predict that Maplebear Inc. will post 0.53 EPS for the current year.

Insider Buying and Selling at Maplebear

In other news, Director Jeffrey D. Jordan sold 760,479 shares of the business’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $26.01, for a total transaction of $19,780,058.79. Following the completion of the transaction, the director now owns 20,783 shares of the company’s stock, valued at approximately $540,565.83. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, major shareholder Us (Ttgp) Ltd. Sc acquired 1,036,683 shares of Maplebear stock in a transaction that occurred on Tuesday, February 20th. The shares were acquired at an average price of $27.90 per share, for a total transaction of $28,923,455.70. Following the transaction, the insider now directly owns 1,036,683 shares of the company’s stock, valued at approximately $28,923,455.70. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jeffrey D. Jordan sold 760,479 shares of the company’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $26.01, for a total value of $19,780,058.79. Following the completion of the transaction, the director now directly owns 20,783 shares of the company’s stock, valued at approximately $540,565.83. The disclosure for this sale can be found here. In the last quarter, insiders have acquired 2,157,745 shares of company stock valued at $61,771,955 and have sold 1,027,279 shares valued at $29,422,416.

About Maplebear

Maplebear Inc, doing business as Instacart, provides online grocery shopping services to households in North America. It sells and delivers grocery products. The company offers its services through a mobile application and website. It also provides software-as-a-service solutions to retailers. The company was incorporated in 2012 and is based in San Francisco, California.