Vinva Investment Management Ltd Grows Stock Position in Maplebear Inc. (NASDAQ:CART)

Vinva Investment Management Ltd lifted its position in Maplebear Inc. (NASDAQ:CART) by 229.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 17,143 shares of the company’s stock after purchasing an additional 11,937 shares during the quarter. Vinva Investment Management Ltd’s holdings in Maplebear were worth $710,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the company. Victory Capital Management Inc. raised its stake in shares of Maplebear by 11,501.2% in the fourth quarter. Victory Capital Management Inc. now owns 4,526,673 shares of the company’s stock worth $187,495,000 after purchasing an additional 4,487,654 shares during the last quarter. Geode Capital Management LLC grew its holdings in Maplebear by 151.7% in the third quarter. Geode Capital Management LLC now owns 2,732,738 shares of the company’s stock valued at $111,361,000 after purchasing an additional 1,647,081 shares during the period. Boston Partners acquired a new stake in shares of Maplebear in the fourth quarter worth approximately $111,506,000. Maverick Capital Ltd. boosted its stake in shares of Maplebear by 19.7% in the third quarter. Maverick Capital Ltd. now owns 2,684,425 shares of the company’s stock worth $109,363,000 after acquiring an additional 441,156 shares during the last quarter. Finally, State Street Corp boosted its stake in shares of Maplebear by 48.3% in the third quarter. State Street Corp now owns 2,552,617 shares of the company’s stock worth $103,994,000 after acquiring an additional 831,795 shares during the last quarter. 63.09% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on CART shares. Cantor Fitzgerald reiterated an “overweight” rating and set a $55.00 price objective on shares of Maplebear in a research report on Wednesday, February 26th. JPMorgan Chase & Co. reduced their target price on Maplebear from $52.00 to $50.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 26th. Stifel Nicolaus boosted their price objective on Maplebear from $56.00 to $57.00 and gave the company a “buy” rating in a report on Wednesday, February 26th. Needham & Company LLC reissued a “buy” rating and set a $56.00 target price on shares of Maplebear in a research note on Wednesday, February 26th. Finally, Seaport Res Ptn raised Maplebear to a “strong-buy” rating in a research note on Wednesday, February 12th. Thirteen equities research 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, the stock currently has an average rating of “Moderate Buy” and an average price target of $50.52.

Maplebear Stock Down 0.1 %

CART opened at $38.90 on Friday. The business has a 50 day moving average price of $45.10 and a two-hundred day moving average price of $43.21. The company has a market cap of $10.29 billion, a PE ratio of 26.11, a P/E/G ratio of 1.19 and a beta of 1.34. Maplebear Inc. has a 52 week low of $29.84 and a 52 week high of $53.44.

Maplebear (NASDAQ:CART) last posted its quarterly earnings data on Tuesday, February 25th. The company reported $0.53 EPS for the quarter, beating the consensus estimate of $0.37 by $0.16. The firm had revenue of $883.00 million during the quarter, compared to the consensus estimate of $889.98 million. Maplebear had a return on equity of 13.78% and a net margin of 13.37%. As a group, sell-side analysts expect that Maplebear Inc. will post 1.43 EPS for the current fiscal year.

Insider Transactions at Maplebear

In other news, CEO Fidji Simo sold 2,033 shares of the stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $40.00, for a total transaction of $81,320.00. Following the completion of the transaction, the chief executive officer now directly owns 1,654,559 shares of the company’s stock, valued at approximately $66,182,360. This represents a 0.12 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CAO Alan Ramsay sold 2,314 shares of the stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $46.28, for a total value of $107,091.92. Following the transaction, the chief accounting officer now directly owns 85,421 shares of the company’s stock, valued at approximately $3,953,283.88. This trade represents a 2.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 25,097 shares of company stock valued at $1,087,094. Corporate insiders own 36.00% of the company’s stock.

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.