2,691,608 Shares in Maplebear Inc. (NASDAQ:CART) Bought by Boston Partners

Boston Partners bought a new position in shares of Maplebear Inc. (NASDAQ:CART) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 2,691,608 shares of the company’s stock, valued at approximately $111,506,000. Boston Partners owned about 1.05% of Maplebear at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in CART. Jones Financial Companies Lllp raised its holdings in shares of Maplebear by 46.6% during the fourth quarter. Jones Financial Companies Lllp now owns 698 shares of the company’s stock worth $29,000 after purchasing an additional 222 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new position in shares of Maplebear during the third quarter worth $33,000. Allworth Financial LP raised its holdings in shares of Maplebear by 101.4% during the fourth quarter. Allworth Financial LP now owns 834 shares of the company’s stock worth $37,000 after purchasing an additional 420 shares during the last quarter. Huntington National Bank purchased a new position in shares of Maplebear during the third quarter worth $54,000. Finally, Cullen Frost Bankers Inc. purchased a new position in shares of Maplebear during the fourth quarter worth $62,000. Hedge funds and other institutional investors own 63.09% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on CART shares. JPMorgan Chase & Co. cut their price objective on shares of Maplebear from $52.00 to $50.00 and set an “overweight” rating for the company in a report on Wednesday, February 26th. Oppenheimer cut their price objective on shares of Maplebear from $65.00 to $60.00 and set an “outperform” rating for the company in a report on Wednesday, February 26th. Deutsche Bank Aktiengesellschaft started coverage on shares of Maplebear in a report on Tuesday, December 3rd. They issued a “hold” rating and a $37.00 price objective for the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $56.00 price objective on shares of Maplebear in a report on Wednesday, February 26th. Finally, Macquarie lifted their price objective on shares of Maplebear from $52.00 to $55.00 and gave the company an “outperform” rating in a report on Thursday, February 27th. Thirteen research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Maplebear presently has a consensus rating of “Moderate Buy” and a consensus target price of $50.52.

Insider Buying and Selling at Maplebear

In other Maplebear news, CAO Alan Ramsay sold 2,314 shares of the business’s stock in a transaction dated Tuesday, January 21st. The shares were 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 in the company, valued at $3,953,283.88. The trade was a 2.64 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Fidji Simo sold 20,750 shares of the business’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 owns 1,662,692 shares in the company, valued at $72,011,190.52. The trade was a 1.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 25,311 shares of company stock worth $1,100,463 in the last ninety days. 36.00% of the stock is owned by insiders.

Maplebear Trading Down 1.2 %

CART opened at $40.16 on Wednesday. The firm has a market capitalization of $10.63 billion, a PE ratio of 26.95, a PEG ratio of 1.19 and a beta of 1.34. Maplebear Inc. has a twelve month low of $29.84 and a twelve month high of $53.44. The firm’s 50-day moving average price is $45.43 and its 200 day moving average price is $43.24.

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

Maplebear 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.