Maplebear Inc. (NASDAQ:CART) Holdings Lifted by ING Groep NV

ING Groep NV increased its holdings in Maplebear Inc. (NASDAQ:CART) by 119.7% in the 3rd quarter, Holdings Channel reports. The fund owned 158,600 shares of the company’s stock after purchasing an additional 86,400 shares during the period. ING Groep NV’s holdings in Maplebear were worth $6,461,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Oppenheimer & Co. Inc. acquired a new position in shares of Maplebear in the 1st quarter valued at about $213,000. Russell Investments Group Ltd. purchased a new stake in Maplebear in the 1st quarter worth approximately $1,663,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of Maplebear during the 1st quarter valued at $6,462,000. Vanguard Group Inc. grew its holdings in shares of Maplebear by 239.1% during the 1st quarter. Vanguard Group Inc. now owns 213,496 shares of the company’s stock valued at $7,961,000 after acquiring an additional 150,544 shares in the last quarter. Finally, Delta Global Management LP acquired a new position in shares of Maplebear in the first quarter worth $25,722,000. 63.09% of the stock is owned by hedge funds and other institutional investors.

Maplebear Stock Down 2.2 %

Shares of CART stock opened at $42.00 on Friday. Maplebear Inc. has a 12 month low of $22.13 and a 12 month high of $50.01. The firm has a market cap of $10.95 billion, a PE ratio of 28.19, a price-to-earnings-growth ratio of 1.30 and a beta of 1.12. The stock has a 50 day moving average of $42.17 and a 200-day moving average of $36.61.

Maplebear (NASDAQ:CART) last announced its earnings results on Tuesday, November 12th. The company reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.22 by $0.20. The business had revenue of $852.00 million for the quarter, compared to analyst estimates of $844.03 million. Maplebear had a net margin of 13.37% and a return on equity of 13.32%. Maplebear’s revenue was up 11.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($20.86) earnings per share. As a group, equities analysts predict that Maplebear Inc. will post 1.2 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Cantor Fitzgerald reissued an “overweight” rating and set a $45.00 price objective on shares of Maplebear in a research report on Monday, October 7th. Wedbush lifted their price target on Maplebear from $35.00 to $38.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. Macquarie increased their price objective on Maplebear from $50.00 to $52.00 and gave the stock an “outperform” rating in a report on Thursday. Benchmark reiterated a “hold” rating on shares of Maplebear in a research note on Wednesday, August 7th. Finally, Bank of America boosted their target price on shares of Maplebear from $50.00 to $51.00 and gave the stock a “neutral” rating in a research report on Wednesday. Twelve investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $47.29.

Insider Activity

In other Maplebear news, CAO Alan Ramsay sold 2,486 shares of Maplebear stock in a transaction on Friday, September 20th. The shares were sold at an average price of $41.39, for a total transaction of $102,895.54. Following the sale, the chief accounting officer now owns 99,225 shares in the company, valued at $4,106,922.75. The trade was a 2.44 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Morgan Fong sold 29,253 shares of the stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $48.03, for a total transaction of $1,405,021.59. Following the completion of the transaction, the general counsel now owns 258,406 shares of the company’s stock, valued at approximately $12,411,240.18. This represents a 10.17 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 118,710 shares of company stock valued at $4,978,164. Insiders own 36.00% of the company’s stock.

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.