Numerai GP LLC Purchases 14,611 Shares of Maplebear Inc. (NASDAQ:CART)

Numerai GP LLC lifted its position in shares of Maplebear Inc. (NASDAQ:CART) by 51.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 43,079 shares of the company’s stock after purchasing an additional 14,611 shares during the quarter. Numerai GP LLC’s holdings in Maplebear were worth $1,784,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of CART. Jones Financial Companies Lllp raised its stake in shares of Maplebear by 46.6% in the 4th quarter. Jones Financial Companies Lllp now owns 698 shares of the company’s stock valued at $29,000 after buying an additional 222 shares in the last quarter. Allworth Financial LP lifted its holdings in Maplebear by 101.4% during the 4th quarter. Allworth Financial LP now owns 834 shares of the company’s stock valued at $37,000 after purchasing an additional 420 shares during the last quarter. CIBC Asset Management Inc increased its holdings in shares of Maplebear by 5.4% during the fourth quarter. CIBC Asset Management Inc now owns 8,554 shares of the company’s stock worth $354,000 after buying an additional 440 shares in the last quarter. Coldstream Capital Management Inc. boosted its holdings in shares of Maplebear by 2.0% in the 4th quarter. Coldstream Capital Management Inc. now owns 32,393 shares of the company’s stock worth $1,342,000 after acquiring an additional 648 shares in the last quarter. Finally, NewEdge Advisors LLC grew its position in Maplebear by 277.9% during the 4th quarter. NewEdge Advisors LLC now owns 975 shares of the company’s stock worth $40,000 after acquiring an additional 717 shares during the last quarter. 63.09% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CART has been the topic of several research analyst reports. JMP Securities restated a “market outperform” rating and set a $55.00 target price on shares of Maplebear in a report on Friday, April 11th. Macquarie reissued an “outperform” rating and issued a $55.00 price target on shares of Maplebear in a report on Tuesday, May 6th. Needham & Company LLC reissued a “buy” rating and issued a $56.00 target price on shares of Maplebear in a research note on Friday, May 2nd. BMO Capital Markets raised their price target on Maplebear from $48.00 to $49.00 and gave the company a “market perform” rating in a report on Wednesday, February 26th. Finally, Stifel Nicolaus cut their target price on shares of Maplebear from $57.00 to $54.00 and set a “buy” rating on the stock in a research report on Wednesday, April 23rd. Twelve research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $51.04.

Insider Buying and Selling at Maplebear

In related news, General Counsel Morgan Fong sold 5,249 shares of the stock in a transaction on Monday, April 21st. The shares were sold at an average price of $42.57, for a total transaction of $223,449.93. Following the completion of the transaction, the general counsel now owns 484,292 shares in the company, valued at approximately $20,616,310.44. This represents a 1.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Fidji Simo sold 2,033 shares of the business’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $40.00, for a total transaction of $81,320.00. Following the sale, the chief executive officer now directly owns 1,654,559 shares in the company, valued at $66,182,360. This trade represents a 0.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 36,165 shares of company stock valued at $1,541,785 in the last 90 days. 26.00% of the stock is currently owned by company insiders.

Maplebear Price Performance

NASDAQ CART opened at $44.31 on Wednesday. The stock’s 50-day moving average is $40.79 and its 200-day moving average is $43.52. Maplebear Inc. has a one year low of $29.84 and a one year high of $53.44. The firm has a market cap of $11.63 billion, a P/E ratio of 29.74, a P/E/G ratio of 1.19 and a beta of 1.19.

Maplebear (NASDAQ:CART) last issued its quarterly earnings data on Thursday, May 1st. The company reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.01). The company had revenue of $897.00 million for the quarter, compared to the consensus estimate of $896.86 million. Maplebear had a return on equity of 13.78% and a net margin of 13.37%. The firm’s revenue was up 9.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.43 EPS. Equities analysts anticipate that Maplebear Inc. will post 1.43 EPS for the current year.

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.