Voloridge Investment Management LLC Has $46.63 Million Stake in Maplebear Inc. (NASDAQ:CART)

Voloridge Investment Management LLC lowered its holdings in Maplebear Inc. (NASDAQ:CART) by 36.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,125,847 shares of the company’s stock after selling 632,679 shares during the quarter. Voloridge Investment Management LLC owned about 0.44% of Maplebear worth $46,633,000 as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in shares of Maplebear by 16.8% in the fourth quarter. Vanguard Group Inc. now owns 15,968,358 shares of the company’s stock valued at $661,409,000 after buying an additional 2,300,288 shares during the last quarter. T. Rowe Price Investment Management Inc. increased its position in Maplebear by 15.5% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 4,744,652 shares of the company’s stock valued at $196,524,000 after acquiring an additional 635,930 shares in the last quarter. Victory Capital Management Inc. raised its stake in shares of Maplebear by 11,501.2% in the fourth quarter. Victory Capital Management Inc. now owns 4,526,673 shares of the company’s stock worth $187,495,000 after acquiring an additional 4,487,654 shares during the last quarter. Jacobs Levy Equity Management Inc. raised its stake in shares of Maplebear by 85.0% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 3,081,847 shares of the company’s stock worth $127,650,000 after acquiring an additional 1,416,426 shares during the last quarter. Finally, Boston Partners acquired a new position in shares of Maplebear during the fourth quarter worth approximately $111,506,000. Institutional investors own 63.09% of the company’s stock.

Insider Buying and Selling

In other Maplebear news, General Counsel Morgan Fong sold 5,249 shares of the business’s stock in a transaction that occurred on 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 approximately $20,616,310.44. The trade was a 1.07% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Fidji Simo sold 2,033 shares of Maplebear stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $40.00, for a total transaction of $81,320.00. Following the completion of the sale, the chief executive officer now 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 a total of 36,165 shares of company stock worth $1,541,785 over the last ninety days. Company insiders own 26.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on CART. FBN Securities started coverage on shares of Maplebear in a report on Friday, March 28th. They issued a “sector perform” rating and a $44.00 price target for the company. Stifel Nicolaus lowered their target price on Maplebear from $57.00 to $54.00 and set a “buy” rating for the company in a research note on Wednesday, April 23rd. Morgan Stanley boosted their target price on Maplebear from $44.00 to $45.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 26th. JPMorgan Chase & Co. cut their price target on Maplebear from $50.00 to $44.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 8th. Finally, 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. 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 company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $51.30.

Maplebear Price Performance

NASDAQ CART opened at $47.11 on Wednesday. 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 $12.37 billion, a P/E ratio of 31.62, a P/E/G ratio of 1.19 and a beta of 1.19. The stock’s 50-day moving average is $41.50 and its 200-day moving average is $43.56.

Maplebear (NASDAQ:CART) last posted its earnings results on Thursday, May 1st. The company reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.01). Maplebear had a return on equity of 13.78% and a net margin of 13.37%. The business had revenue of $897.00 million for the quarter, compared to the consensus estimate of $896.86 million. During the same period in the previous year, the company posted $0.43 earnings per share. Maplebear’s revenue for the quarter was up 9.4% compared to the same quarter last year. 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.