Price T Rowe Associates Inc. MD Has $123.45 Million Position in Maplebear Inc. (NASDAQ:CART)

Price T Rowe Associates Inc. MD reduced its holdings in shares of Maplebear Inc. (NASDAQ:CARTFree Report) by 18.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,260,009 shares of the company’s stock after selling 1,175,933 shares during the period. Price T Rowe Associates Inc. MD owned 1.88% of Maplebear worth $123,454,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Parallel Advisors LLC grew its holdings in Maplebear by 139.3% during the 4th quarter. Parallel Advisors LLC now owns 1,065 shares of the company’s stock worth $25,000 after acquiring an additional 620 shares during the period. Cantor Fitzgerald L. P. lifted its position in Maplebear by 389.5% in the 4th quarter. Cantor Fitzgerald L. P. now owns 1,850 shares of the company’s stock valued at $43,000 after acquiring an additional 2,489 shares in the last quarter. Amalgamated Bank bought a new position in Maplebear in the 4th quarter valued at about $94,000. International Assets Investment Management LLC bought a new position in shares of Maplebear during the 4th quarter worth approximately $110,000. Finally, Jump Financial LLC bought a new position in shares of Maplebear during the 3rd quarter worth approximately $245,000. 63.09% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Gordon Haskett raised shares of Maplebear from a “hold” rating to a “buy” rating and lifted their target price for the stock from $37.00 to $45.00 in a research report on Wednesday, June 5th. BMO Capital Markets lifted their target price on shares of Maplebear from $26.00 to $36.00 and gave the stock a “market perform” rating in a research report on Thursday, May 9th. Wolfe Research raised their price target on shares of Maplebear from $35.00 to $39.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 5th. Barclays raised their price target on shares of Maplebear from $41.00 to $43.00 and gave the stock an “overweight” rating in a research note on Thursday, May 9th. Finally, Robert W. Baird lifted their price objective on shares of Maplebear from $31.00 to $44.00 and gave the company an “outperform” rating in a research note on Monday, April 1st. Nine equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $41.25.

Check Out Our Latest Stock Analysis on CART

Insider Buying and Selling at Maplebear

In other news, CEO Fidji Simo sold 6,000 shares of the stock in a transaction that occurred on Wednesday, May 29th. The shares were sold at an average price of $31.82, for a total transaction of $190,920.00. Following the sale, the chief executive officer now owns 1,995,167 shares in the company, valued at $63,486,213.94. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, General Counsel Morgan Fong sold 18,689 shares of the firm’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $37.62, for a total value of $703,080.18. Following the sale, the general counsel now owns 264,379 shares in the company, valued at $9,945,937.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Fidji Simo sold 6,000 shares of Maplebear stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $31.82, for a total transaction of $190,920.00. Following the transaction, the chief executive officer now owns 1,995,167 shares in the company, valued at approximately $63,486,213.94. The disclosure for this sale can be found here. Over the last quarter, insiders sold 199,485 shares of company stock valued at $7,319,593. Corporate insiders own 36.00% of the company’s stock.

Maplebear Price Performance

Shares of CART stock traded up $0.35 during mid-day trading on Friday, reaching $32.64. The stock had a trading volume of 2,422,835 shares, compared to its average volume of 4,200,855. The stock’s 50-day moving average price is $34.54 and its two-hundred day moving average price is $30.42. Maplebear Inc. has a 52-week low of $22.13 and a 52-week high of $42.95.

Maplebear (NASDAQ:CARTGet Free Report) last released its quarterly earnings data on Wednesday, May 8th. The company reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.04 by $0.39. The firm had revenue of $820.00 million during the quarter, compared to analysts’ expectations of $794.08 million. The business’s revenue for the quarter was up 8.0% compared to the same quarter last year. As a group, equities analysts predict that Maplebear Inc. will post 1.02 earnings per share for the current year.

Maplebear Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Maplebear (NASDAQ:CART)

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