Blueshift Asset Management LLC Acquires New Shares in Maplebear Inc. (NASDAQ:CART)

Blueshift Asset Management LLC bought a new position in shares of Maplebear Inc. (NASDAQ:CART) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 19,333 shares of the company’s stock, valued at approximately $788,000.

A number of other institutional investors and hedge funds have also recently made changes to their positions in CART. CIBC Asset Management Inc grew its position in Maplebear by 3.7% during the 3rd quarter. CIBC Asset Management Inc now owns 8,114 shares of the company’s stock worth $331,000 after acquiring an additional 286 shares during the last quarter. Oppenheimer & Co. Inc. boosted its stake in shares of Maplebear by 5.1% during the third quarter. Oppenheimer & Co. Inc. now owns 12,090 shares of the company’s stock valued at $493,000 after purchasing an additional 584 shares in the last quarter. Creative Planning grew its holdings in shares of Maplebear by 9.5% during the second quarter. Creative Planning now owns 9,566 shares of the company’s stock worth $307,000 after purchasing an additional 831 shares during the last quarter. Huntington National Bank acquired a new position in shares of Maplebear in the third quarter valued at approximately $54,000. Finally, nVerses Capital LLC raised its holdings in Maplebear by 1,600.0% in the 2nd quarter. nVerses Capital LLC now owns 1,700 shares of the company’s stock valued at $55,000 after buying an additional 1,600 shares during the last quarter. Institutional investors own 63.09% of the company’s stock.

Insider Activity

In related news, General Counsel Morgan Fong sold 29,253 shares of Maplebear stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $48.03, for a total value of $1,405,021.59. Following the completion of the sale, the general counsel now owns 258,406 shares of the company’s stock, valued at approximately $12,411,240.18. This trade represents a 10.17 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Alan Ramsay sold 2,486 shares of the company’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $41.39, for a total transaction of $102,895.54. Following the transaction, the chief accounting officer now owns 99,225 shares in the company, valued at approximately $4,106,922.75. The trade was a 2.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 110,954 shares of company stock worth $4,890,405 over the last quarter. 36.00% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on CART shares. Oppenheimer boosted their target price on shares of Maplebear from $55.00 to $60.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. BMO Capital Markets lifted their price target on shares of Maplebear from $39.00 to $48.00 and gave the stock a “market perform” rating in a report on Wednesday, November 13th. Morgan Stanley decreased their price objective on Maplebear from $45.00 to $41.00 and set an “equal weight” rating for the company in a report on Tuesday, September 24th. Needham & Company LLC reaffirmed a “hold” rating on shares of Maplebear in a research report on Wednesday, November 13th. Finally, Jefferies Financial Group began coverage on Maplebear in a research report on Wednesday, October 16th. They issued a “hold” rating and a $43.00 price target on the stock. Twelve research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $47.29.

Maplebear Trading Down 0.2 %

Shares of NASDAQ CART opened at $43.44 on Thursday. The firm has a market capitalization of $11.16 billion, a P/E ratio of 29.15, a P/E/G ratio of 1.13 and a beta of 1.12. The firm’s 50-day moving average price is $43.13 and its 200-day moving average price is $36.99. Maplebear Inc. has a 1-year low of $22.13 and a 1-year high of $50.01.

Maplebear (NASDAQ:CART) last issued its earnings results on Tuesday, November 12th. The company reported $0.42 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $0.20. The business had revenue of $852.00 million during the quarter, compared to analyst estimates of $844.03 million. Maplebear had a return on equity of 13.78% and a net margin of 13.37%. The firm’s revenue was up 11.5% compared to the same quarter last year. During the same period in the previous year, the company posted ($20.86) EPS. Equities research analysts forecast that Maplebear Inc. will post 1.4 EPS for the current year.

About Maplebear

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.