Aigen Investment Management LP Invests $882,000 in Maplebear Inc. (NASDAQ:CART)

Aigen Investment Management LP acquired a new position in Maplebear Inc. (NASDAQ:CART) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 21,296 shares of the company’s stock, valued at approximately $882,000.

Several other large investors have also recently made changes to their positions in the stock. Jones Financial Companies Lllp lifted its holdings in shares of Maplebear by 46.6% in the 4th quarter. Jones Financial Companies Lllp now owns 698 shares of the company’s stock worth $29,000 after acquiring an additional 222 shares during the last quarter. CIBC Asset Management Inc lifted its holdings in shares of Maplebear by 3.7% in the 3rd quarter. CIBC Asset Management Inc now owns 8,114 shares of the company’s stock worth $331,000 after acquiring an additional 286 shares during the last quarter. Allworth Financial LP lifted its holdings in Maplebear by 101.4% during the 4th quarter. Allworth Financial LP now owns 834 shares of the company’s stock worth $37,000 after buying an additional 420 shares in the last quarter. Coldstream Capital Management Inc. lifted its holdings in Maplebear by 1.6% during the 3rd quarter. Coldstream Capital Management Inc. now owns 31,745 shares of the company’s stock worth $1,294,000 after buying an additional 490 shares in the last quarter. Finally, Oppenheimer & Co. Inc. lifted its holdings in Maplebear by 5.1% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 12,090 shares of the company’s stock worth $493,000 after buying an additional 584 shares in the last quarter. 63.09% of the stock is currently owned by institutional investors and hedge funds.

Maplebear Stock Performance

Shares of Maplebear stock opened at $38.59 on Thursday. Maplebear Inc. has a 1 year low of $29.84 and a 1 year high of $53.44. The company has a market capitalization of $9.91 billion, a P/E ratio of 25.90, a PEG ratio of 1.19 and a beta of 1.34. The company’s fifty day moving average is $46.15 and its two-hundred day moving average is $42.94.

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

Insider Transactions at Maplebear

In related news, CAO Alan Ramsay sold 2,247 shares of the firm’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $42.14, for a total value of $94,688.58. Following the completion of the sale, the chief accounting officer now owns 87,735 shares in the company, valued at $3,697,152.90. This trade represents a 2.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Fidji Simo sold 20,750 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer now owns 1,662,692 shares of the company’s stock, valued at $72,011,190.52. This trade represents a 1.23 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 46,061 shares of company stock worth $1,987,318. Company insiders own 36.00% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on CART shares. JMP Securities increased their target price on shares of Maplebear from $42.00 to $51.00 and gave the stock a “market outperform” rating in a report on Wednesday, November 13th. Benchmark reiterated a “hold” rating on shares of Maplebear in a report on Wednesday, February 26th. BTIG Research upgraded shares of Maplebear from a “neutral” rating to a “buy” rating and set a $58.00 target price on the stock in a report on Tuesday, January 14th. Needham & Company LLC reiterated a “buy” rating and set a $56.00 target price on shares of Maplebear in a report on Wednesday, February 26th. Finally, Loop Capital increased their price objective 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 research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $50.38.

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.