Investment House LLC Purchases Shares of 23,320 Maplebear Inc. (NASDAQ:CART)

Investment House LLC purchased a new stake in Maplebear Inc. (NASDAQ:CART) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 23,320 shares of the company’s stock, valued at approximately $750,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CART. Norges Bank acquired a new position in Maplebear during the 4th quarter worth approximately $78,674,000. Industry Ventures L.L.C. lifted its position in shares of Maplebear by 3.3% during the second quarter. Industry Ventures L.L.C. now owns 980,458 shares of the company’s stock worth $31,512,000 after purchasing an additional 31,175 shares in the last quarter. SG Americas Securities LLC acquired a new stake in Maplebear during the 1st quarter valued at $31,109,000. Lord Abbett & CO. LLC acquired a new stake in Maplebear during the 1st quarter valued at $28,674,000. Finally, American Express Co purchased a new stake in Maplebear during the 4th quarter worth $17,924,000. 63.09% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO Fidji Simo sold 6,000 shares of the business’s 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 document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CAO Alan Ramsay sold 2,550 shares of the company’s stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $33.86, for a total value of $86,343.00. Following the transaction, the chief accounting officer now owns 110,536 shares in the company, valued at approximately $3,742,748.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Fidji Simo sold 6,000 shares of the stock in a transaction that occurred 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 completion of the sale, the chief executive officer now directly owns 1,995,167 shares of the company’s stock, valued at $63,486,213.94. The disclosure for this sale can be found here. Insiders sold a total of 41,610 shares of company stock worth $1,404,458 over the last ninety days. 36.00% of the stock is currently owned by company insiders.

Maplebear Stock Up 1.6 %

CART stock traded up $0.52 on Wednesday, hitting $33.58. 1,927,902 shares of the company’s stock traded hands, compared to its average volume of 4,092,144. Maplebear Inc. has a 1-year low of $22.13 and a 1-year high of $42.95. The stock has a fifty day moving average of $33.34 and a 200-day moving average of $33.53.

Maplebear (NASDAQ:CART) last issued its earnings results on Tuesday, August 6th. The company reported $0.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.07. The company had revenue of $823.00 million during the quarter, compared to analyst estimates of $806.35 million. The business’s revenue for the quarter was up 14.9% on a year-over-year basis. Equities research analysts forecast that Maplebear Inc. will post 1.02 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Wedbush upped their target price on shares of Maplebear from $35.00 to $38.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. Wolfe Research began coverage on shares of Maplebear in a report on Tuesday, July 16th. They issued a “peer perform” rating for the company. Macquarie boosted their target price on shares of Maplebear from $44.00 to $45.00 and gave the company an “outperform” rating in a research note on Thursday, August 8th. Oppenheimer lifted their price target on shares of Maplebear from $36.00 to $48.00 and gave the company an “outperform” rating in a report on Monday, April 29th. Finally, Benchmark reiterated a “hold” rating on shares of Maplebear in a research note on Wednesday, August 7th. Eleven equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $42.70.

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.