Ensign Peak Advisors Inc Buys 14,102 Shares of Maplebear Inc. (NASDAQ:CART)

Ensign Peak Advisors Inc increased its stake in shares of Maplebear Inc. (NASDAQ:CART) by 26.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 68,339 shares of the company’s stock after buying an additional 14,102 shares during the quarter. Ensign Peak Advisors Inc’s holdings in Maplebear were worth $2,831,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of CART. Jones Financial Companies Lllp raised its position in 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 purchasing an additional 222 shares during the last quarter. Allworth Financial LP raised its position in Maplebear by 101.4% in 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 raised its position in Maplebear by 5.4% in the 4th quarter. CIBC Asset Management Inc now owns 8,554 shares of the company’s stock valued at $354,000 after purchasing an additional 440 shares during the last quarter. Coldstream Capital Management Inc. raised its position in Maplebear by 2.0% in the 4th quarter. Coldstream Capital Management Inc. now owns 32,393 shares of the company’s stock valued at $1,342,000 after purchasing an additional 648 shares during the last quarter. Finally, NewEdge Advisors LLC raised its position in Maplebear by 277.9% in the 4th quarter. NewEdge Advisors LLC now owns 975 shares of the company’s stock valued at $40,000 after purchasing an additional 717 shares during the last quarter. Institutional investors own 63.09% of the company’s stock.

Insider Activity

In other news, 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 value 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. The trade was a 0.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, General Counsel Morgan Fong sold 5,249 shares of the company’s stock in a transaction dated Monday, April 21st. The stock was sold at an average price of $42.57, for a total value of $223,449.93. Following the sale, the general counsel now owns 484,292 shares in the company, valued at $20,616,310.44. The trade was a 1.07% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 36,165 shares of company stock worth $1,541,785 over the last three months. Corporate insiders own 26.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on CART. JMP Securities reissued a “market outperform” rating and issued a $55.00 target price on shares of Maplebear in a research note on Friday, April 11th. Wedbush lowered their target price on Maplebear from $48.00 to $46.00 and set a “neutral” rating for the company in a research note on Wednesday, February 26th. Wells Fargo & Company lowered their target price on Maplebear from $47.00 to $44.00 and set an “equal weight” rating for the company in a research note on Thursday, April 3rd. BMO Capital Markets lifted their target price on Maplebear from $48.00 to $49.00 and gave the company a “market perform” rating in a research note on Wednesday, February 26th. Finally, Barclays lifted their target price on Maplebear from $58.00 to $61.00 and gave the company an “overweight” rating in a research note on Friday, May 2nd. Twelve 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 company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $51.04.

Maplebear Trading Down 2.4%

CART stock opened at $44.12 on Friday. The business’s 50-day moving average price is $41.01 and its two-hundred day moving average price is $43.53. The firm has a market cap of $11.58 billion, a PE ratio of 29.61, a P/E/G ratio of 1.19 and a beta of 1.19. Maplebear Inc. has a 1-year low of $29.84 and a 1-year high of $53.44.

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