Bailard Inc. Makes New Investment in Maplebear Inc. (NASDAQ:CART)

Bailard Inc. bought a new position in shares of Maplebear Inc. (NASDAQ:CART) during the 4th quarter, Holdings Channel reports. The firm bought 24,818 shares of the company’s stock, valued at approximately $1,028,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CART. Mirae Asset Global Investments Co. Ltd. acquired a new position in Maplebear during the third quarter worth about $74,000. New York State Teachers Retirement System grew its position in Maplebear by 704.1% during the third quarter. New York State Teachers Retirement System now owns 15,824 shares of the company’s stock worth $645,000 after buying an additional 13,856 shares during the period. US Bancorp DE grew its position in shares of Maplebear by 429.2% in the third quarter. US Bancorp DE now owns 10,690 shares of the company’s stock valued at $436,000 after purchasing an additional 8,670 shares during the last quarter. Farther Finance Advisors LLC grew its position in shares of Maplebear by 26.7% in the third quarter. Farther Finance Advisors LLC now owns 13,757 shares of the company’s stock valued at $560,000 after purchasing an additional 2,901 shares during the last quarter. Finally, Kornitzer Capital Management Inc. KS acquired a new stake in shares of Maplebear in the third quarter valued at approximately $8,352,000. 63.09% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

CART has been the topic of several research reports. JPMorgan Chase & Co. lowered their price target on shares of Maplebear from $52.00 to $50.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 26th. Needham & Company LLC reiterated a “buy” rating and issued a $56.00 price target on shares of Maplebear in a research report on Wednesday, February 26th. Benchmark reiterated a “hold” rating on shares of Maplebear in a research report on Wednesday, February 26th. Seaport Res Ptn upgraded shares of Maplebear to a “strong-buy” rating in a research report on Wednesday, February 12th. Finally, Loop Capital increased their price target on shares of Maplebear from $49.00 to $56.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Thirteen equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $49.92.

Insider Activity

In other news, CAO Alan Ramsay sold 2,247 shares of the firm’s stock in a transaction on Friday, December 20th. The shares were sold at an average price of $42.14, for a total value of $94,688.58. Following the transaction, the chief accounting officer now owns 87,735 shares of the company’s stock, valued at approximately $3,697,152.90. This trade represents a 2.50 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Fidji Simo sold 20,750 shares of the firm’s stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $43.31, for a total transaction of $898,682.50. Following the completion of the transaction, the chief executive officer now directly owns 1,662,692 shares in the company, valued at approximately $72,011,190.52. This represents a 1.23 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 46,061 shares of company stock valued at $1,987,318. Company insiders own 36.00% of the company’s stock.

Maplebear Stock Down 5.3 %

NASDAQ:CART opened at $38.90 on Tuesday. The firm’s 50 day moving average is $46.37 and its two-hundred day moving average is $42.92. Maplebear Inc. has a fifty-two week low of $29.84 and a fifty-two week high of $53.44. The company has a market cap of $9.99 billion, a P/E ratio of 26.11, a P/E/G ratio of 1.19 and a beta of 1.07.

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

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.