Maplebear Inc. (NASDAQ:CART) is Industry Ventures L.L.C.’s 2nd Largest Position

Industry Ventures L.L.C. grew its position in Maplebear Inc. (NASDAQ:CART) by 260.0% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 945,344 shares of the company’s stock after purchasing an additional 682,776 shares during the quarter. Maplebear makes up 36.0% of Industry Ventures L.L.C.’s portfolio, making the stock its 2nd biggest position. Industry Ventures L.L.C.’s holdings in Maplebear were worth $22,187,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the company. SC US Ttgp LTD. purchased a new stake in shares of Maplebear in the 3rd quarter worth $1,180,490,000. KPCB DGF II Associates LLC purchased a new stake in shares of Maplebear during the 3rd quarter worth $119,544,000. Canaan Partners IX LLC purchased a new stake in shares of Maplebear during the 4th quarter worth $87,508,000. Technology Crossover Management XI Ltd. purchased a new stake in shares of Maplebear during the 3rd quarter worth $80,163,000. Finally, FMR LLC purchased a new stake in shares of Maplebear during the 3rd quarter worth $56,424,000. 63.09% of the stock is currently owned by hedge funds and other institutional investors.

Maplebear Stock Down 0.1 %

Shares of Maplebear stock traded down $0.04 on Wednesday, hitting $37.48. The stock had a trading volume of 6,667,911 shares, compared to its average volume of 4,097,668. Maplebear Inc. has a 52-week low of $22.13 and a 52-week high of $42.95. The company’s 50 day moving average price is $36.05 and its 200 day moving average price is $29.09.

Maplebear (NASDAQ:CART) last posted its earnings results on Tuesday, February 13th. The company reported $0.44 earnings per share for the quarter, beating the consensus estimate of ($0.08) by $0.52. The firm had revenue of $803.00 million during the quarter, compared to analysts’ expectations of $804.62 million. Maplebear’s quarterly revenue was up 6.1% on a year-over-year basis. Equities research analysts expect that Maplebear Inc. will post 0.53 earnings per share for the current year.

Insider Buying and Selling at Maplebear

In related news, major shareholder Us (Ttgp) Ltd. Sc acquired 1,036,683 shares of Maplebear stock in a transaction on Tuesday, February 20th. The stock was purchased at an average cost of $27.90 per share, with a total value of $28,923,455.70. Following the purchase, the insider now directly owns 1,036,683 shares in the company, valued at $28,923,455.70. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, major shareholder Us (Ttgp) Ltd. Sc acquired 1,036,683 shares of Maplebear stock in a transaction on Tuesday, February 20th. The stock was purchased at an average cost of $27.90 per share, with a total value of $28,923,455.70. Following the purchase, the insider now directly owns 1,036,683 shares in the company, valued at $28,923,455.70. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jeffrey D. Jordan sold 760,479 shares of the company’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $26.01, for a total value of $19,780,058.79. Following the sale, the director now directly owns 20,783 shares of the company’s stock, valued at $540,565.83. The disclosure for this sale can be found here. In the last ninety days, insiders purchased 2,157,745 shares of company stock valued at $61,771,955 and sold 1,055,899 shares valued at $30,422,265. 36.00% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on CART. BMO Capital Markets initiated coverage on Maplebear in a research note on Tuesday, January 9th. They set a “market perform” rating and a $26.00 price objective for the company. Sanford C. Bernstein upgraded Maplebear from a “market perform” rating to an “outperform” rating and increased their price target for the company from $30.00 to $43.00 in a research note on Thursday, March 14th. Macquarie initiated coverage on Maplebear in a research note on Monday, March 25th. They issued an “outperform” rating and a $42.00 price target for the company. Needham & Company LLC reiterated a “hold” rating on shares of Maplebear in a research note on Tuesday. Finally, Robert W. Baird increased their price objective on Maplebear from $31.00 to $44.00 and gave the company an “outperform” rating in a report on Monday, April 1st. Ten research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $39.42.

Maplebear Profile

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.