Boston Partners Takes $111.51 Million Position in Maplebear Inc. (NASDAQ:CART)

Boston Partners purchased a new stake in Maplebear Inc. (NASDAQ:CART) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 2,691,608 shares of the company’s stock, valued at approximately $111,506,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Jones Financial Companies Lllp raised its stake in shares of Maplebear by 46.6% in the 4th quarter. Jones Financial Companies Lllp now owns 698 shares of the company’s stock valued at $29,000 after acquiring an additional 222 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in shares of Maplebear in the 3rd quarter valued at approximately $33,000. Allworth Financial LP raised its stake in shares of Maplebear by 101.4% in the 4th quarter. Allworth Financial LP now owns 834 shares of the company’s stock valued at $37,000 after acquiring an additional 420 shares during the period. Huntington National Bank purchased a new stake in Maplebear during the 3rd quarter worth approximately $54,000. Finally, Cullen Frost Bankers Inc. purchased a new stake in Maplebear during the 4th quarter worth approximately $62,000. 63.09% of the stock is owned by hedge funds and other institutional investors.

Maplebear Stock Performance

Shares of Maplebear stock opened at $40.16 on Wednesday. The company has a market cap of $10.63 billion, a P/E ratio of 26.95, a PEG ratio of 1.19 and a beta of 1.34. Maplebear Inc. has a one year low of $29.84 and a one year high of $53.44. The firm has a fifty day moving average of $45.43 and a two-hundred day moving average of $43.24.

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

Insider Activity

In other Maplebear news, 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 transaction, the chief executive officer now directly owns 1,662,692 shares in the company, valued at approximately $72,011,190.52. This trade represents a 1.23 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, 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 transaction of $94,688.58. Following the transaction, the chief accounting officer now owns 87,735 shares of the company’s stock, valued at $3,697,152.90. This trade represents a 2.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 25,311 shares of company stock worth $1,100,463 in the last 90 days. 36.00% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

CART has been the topic of several recent research reports. Benchmark reaffirmed a “hold” rating on shares of Maplebear in a research note on Wednesday, February 26th. Oppenheimer cut their target price on shares of Maplebear from $65.00 to $60.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 26th. Needham & Company LLC reaffirmed a “buy” rating and set a $56.00 target price on shares of Maplebear in a research note on Wednesday, February 26th. Wedbush cut their target price on shares of Maplebear from $48.00 to $46.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 26th. Finally, Bank of America upped their target price on shares of Maplebear from $51.00 to $53.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 25th. Thirteen investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Maplebear currently has an average rating of “Moderate Buy” and an average target price of $50.52.

Maplebear Company 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.