Jump Financial LLC Raises Stock Holdings in Maplebear Inc. (NASDAQ:CART)

Jump Financial LLC boosted its holdings in shares of Maplebear Inc. (NASDAQ:CART) by 41.2% in the fourth quarter, Holdings Channel.com reports. The fund owned 189,342 shares of the company’s stock after acquiring an additional 55,242 shares during the quarter. Jump Financial LLC’s holdings in Maplebear were worth $7,843,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the business. Janney Montgomery Scott LLC boosted its stake in shares of Maplebear by 212.1% during the fourth quarter. Janney Montgomery Scott LLC now owns 23,938 shares of the company’s stock valued at $992,000 after purchasing an additional 16,267 shares during the period. Cherry Creek Investment Advisors Inc. purchased a new stake in Maplebear in the 4th quarter valued at about $235,000. US Bancorp DE grew its stake in Maplebear by 22.3% in the 4th quarter. US Bancorp DE now owns 13,077 shares of the company’s stock worth $542,000 after acquiring an additional 2,387 shares in the last quarter. Nordea Investment Management AB purchased a new position in shares of Maplebear during the fourth quarter worth approximately $2,078,000. Finally, Commonwealth Equity Services LLC bought a new stake in shares of Maplebear during the fourth quarter valued at approximately $234,000. Institutional investors own 63.09% of the company’s stock.

Insider Buying and Selling

In related news, CEO Fidji Simo sold 2,033 shares of the stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $40.00, for a total value of $81,320.00. Following the transaction, the chief executive officer now owns 1,654,559 shares in the company, valued at approximately $66,182,360. This represents a 0.12 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Alan Ramsay sold 2,314 shares of Maplebear stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $46.28, for a total transaction of $107,091.92. Following the sale, the chief accounting officer now owns 85,421 shares of the company’s stock, valued at approximately $3,953,283.88. The trade was a 2.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 25,097 shares of company stock worth $1,087,094 in the last 90 days. Insiders own 36.00% of the company’s stock.

Maplebear Stock Performance

Shares of CART stock opened at $41.86 on Wednesday. Maplebear Inc. has a fifty-two week low of $29.84 and a fifty-two week high of $53.44. The firm has a market capitalization of $10.99 billion, a price-to-earnings ratio of 28.09, a PEG ratio of 1.19 and a beta of 1.20. The stock’s 50-day simple moving average is $42.40 and its 200-day simple moving average is $43.48.

Maplebear (NASDAQ:CART) last released its earnings results on Tuesday, February 25th. The company reported $0.53 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.16. The company had revenue of $883.00 million for 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 forecast that Maplebear Inc. will post 1.43 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages recently issued reports on CART. BMO Capital Markets increased their price objective on Maplebear from $48.00 to $49.00 and gave the stock a “market perform” rating in a research note on Wednesday, February 26th. Seaport Res Ptn upgraded Maplebear to a “strong-buy” rating in a research note on Wednesday, February 12th. FBN Securities began coverage on shares of Maplebear in a research note on Friday, March 28th. They issued a “sector perform” rating and a $44.00 price objective for the company. Wells Fargo & Company cut their target price on shares of Maplebear from $47.00 to $44.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 3rd. Finally, Bank of America upped their price target on shares of Maplebear from $51.00 to $53.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 25th. Twelve investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $50.61.

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.