Maplebear Inc. (NASDAQ:CART) Stake Raised by Franklin Resources Inc.

Franklin Resources Inc. grew its holdings in shares of Maplebear Inc. (NASDAQ:CART) by 182.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 272,928 shares of the company’s stock after purchasing an additional 176,137 shares during the period. Franklin Resources Inc. owned approximately 0.11% of Maplebear worth $11,692,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in CART. CIBC Asset Management Inc boosted its holdings in Maplebear by 3.7% during the third quarter. CIBC Asset Management Inc now owns 8,114 shares of the company’s stock worth $331,000 after buying an additional 286 shares in the last quarter. Coldstream Capital Management Inc. boosted its stake in shares of 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 acquiring an additional 490 shares in the last quarter. Oppenheimer & Co. Inc. grew its holdings in shares of Maplebear by 5.1% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 12,090 shares of the company’s stock worth $493,000 after acquiring an additional 584 shares during the last quarter. Pier Capital LLC raised its position in shares of Maplebear by 0.4% during the third quarter. Pier Capital LLC now owns 151,604 shares of the company’s stock worth $6,176,000 after purchasing an additional 616 shares during the period. Finally, Wilmington Savings Fund Society FSB purchased a new stake in shares of Maplebear during the third quarter valued at $33,000. Institutional investors and hedge funds own 63.09% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Fidji Simo sold 20,750 shares of the firm’s stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $44.39, for a total value of $921,092.50. Following the sale, the chief executive officer now owns 1,803,278 shares in the company, valued at approximately $80,047,510.42. This trade represents a 1.14 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, General Counsel Morgan Fong sold 29,253 shares of the company’s 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 transaction, the general counsel now owns 258,406 shares of the company’s stock, valued at approximately $12,411,240.18. The trade was a 10.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 112,128 shares of company stock valued at $4,980,404 in the last quarter. Insiders own 36.00% of the company’s stock.

Maplebear Stock Performance

Shares of CART stock opened at $42.02 on Friday. The stock’s 50 day simple moving average is $43.70 and its 200 day simple moving average is $38.24. Maplebear Inc. has a twelve month low of $22.13 and a twelve month high of $50.01. The company has a market capitalization of $10.79 billion, a price-to-earnings ratio of 28.20, a PEG ratio of 1.08 and a beta of 0.94.

Maplebear (NASDAQ:CART) last released its quarterly earnings results on Tuesday, November 12th. The company reported $0.42 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $0.20. The company 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 13.78%. The company’s quarterly revenue was up 11.5% compared to the same quarter last year. During the same quarter last year, the firm posted ($20.86) earnings per share. On average, analysts forecast that Maplebear Inc. will post 1.4 EPS for the current fiscal year.

Analysts Set New Price Targets

CART has been the topic of a number of analyst reports. Oppenheimer lifted their price target on Maplebear from $55.00 to $60.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Bank of America boosted their price target on shares of Maplebear from $50.00 to $51.00 and gave the company a “neutral” rating in a report on Wednesday, November 13th. Needham & Company LLC reaffirmed a “hold” rating on shares of Maplebear in a research note on Wednesday, November 13th. Stifel Nicolaus boosted their target price on shares of Maplebear from $52.00 to $55.00 and gave the company a “buy” rating in a research note on Monday, October 28th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Maplebear in a report on Tuesday, December 3rd. They issued a “hold” rating and a $37.00 target price for the company. Thirteen analysts have rated the stock with a hold rating and thirteen have issued a 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 $47.14.

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.