Maplebear Inc. (NASDAQ:CART) Shares Purchased by Jacobs Levy Equity Management Inc.

Jacobs Levy Equity Management Inc. grew its stake in Maplebear Inc. (NASDAQ:CART) by 85.0% in the fourth quarter, Holdings Channel reports. The fund owned 3,081,847 shares of the company’s stock after purchasing an additional 1,416,426 shares during the period. Jacobs Levy Equity Management Inc.’s holdings in Maplebear were worth $127,650,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of CART. Vanguard Group Inc. raised its stake in Maplebear by 16.8% during the fourth quarter. Vanguard Group Inc. now owns 15,968,358 shares of the company’s stock worth $661,409,000 after purchasing an additional 2,300,288 shares during the period. T. Rowe Price Investment Management Inc. boosted its position in shares of Maplebear by 15.5% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 4,744,652 shares of the company’s stock worth $196,524,000 after purchasing an additional 635,930 shares during the period. Victory Capital Management Inc. boosted its position in shares of Maplebear by 11,501.2% during the fourth quarter. Victory Capital Management Inc. now owns 4,526,673 shares of the company’s stock worth $187,495,000 after buying an additional 4,487,654 shares during the period. Boston Partners purchased a new position in shares of Maplebear during the fourth quarter worth $111,506,000. Finally, Balyasny Asset Management L.P. grew its stake in shares of Maplebear by 42.9% in the fourth quarter. Balyasny Asset Management L.P. now owns 2,603,438 shares of the company’s stock valued at $107,834,000 after buying an additional 781,259 shares in the last quarter. Institutional investors and hedge funds own 63.09% of the company’s stock.

Maplebear Trading Up 1.9 %

Shares of NASDAQ:CART opened at $43.76 on Friday. Maplebear Inc. has a 12-month low of $29.84 and a 12-month high of $53.44. The firm has a market cap of $11.49 billion, a PE ratio of 29.37, a price-to-earnings-growth ratio of 1.19 and a beta of 1.19. The company has a fifty day simple moving average of $40.56 and a 200 day simple moving average of $43.53.

Maplebear (NASDAQ:CART) last issued its quarterly earnings results on Thursday, May 1st. The company reported $0.37 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 business’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.43 EPS. As a group, equities research analysts forecast that Maplebear Inc. will post 1.43 EPS for the current fiscal year.

Insiders Place Their Bets

In other Maplebear 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 sale, the general counsel now directly owns 484,292 shares of the company’s stock, 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 Securities & Exchange Commission, which is available at the SEC website. Also, CEO Fidji Simo sold 20,750 shares of Maplebear 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 directly owns 1,662,692 shares of the company’s stock, valued at $72,011,190.52. This trade represents a 1.23 % 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 valued at $1,541,785 in the last quarter. Insiders own 26.00% of the company’s stock.

Analysts Set New Price Targets

CART has been the subject of several research reports. JPMorgan Chase & Co. dropped their target price on Maplebear from $50.00 to $44.00 and set an “overweight” rating for the company in a research report on Tuesday, April 8th. Bank of America raised their price target on shares of Maplebear from $51.00 to $53.00 and gave the company a “neutral” rating in a research report on Tuesday, February 25th. Macquarie reaffirmed an “outperform” rating and set a $55.00 price objective on shares of Maplebear in a research report on Tuesday, May 6th. Benchmark restated a “hold” rating on shares of Maplebear in a report on Wednesday, February 26th. Finally, FBN Securities began coverage on Maplebear in a research note on Friday, March 28th. They issued a “sector perform” rating and a $44.00 price objective for the company. Twelve research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $50.61.

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.