Maplebear Inc. (NASDAQ:CART) Shares Bought by CIBC Asset Management Inc

CIBC Asset Management Inc lifted its position in shares of Maplebear Inc. (NASDAQ:CART) by 5.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,554 shares of the company’s stock after acquiring an additional 440 shares during the quarter. CIBC Asset Management Inc’s holdings in Maplebear were worth $354,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. Wilmington Savings Fund Society FSB acquired a new position in Maplebear during the third quarter worth about $33,000. Allworth Financial LP boosted 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 acquired a new stake in Maplebear in the 3rd quarter worth about $54,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Maplebear in the third quarter valued at approximately $74,000. Finally, Newbridge Financial Services Group Inc. purchased a new stake in shares of Maplebear during the 4th quarter valued at $151,000. 63.09% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Piper Sandler lifted their price objective on Maplebear from $50.00 to $58.00 and gave the company an “overweight” rating in a research note on Wednesday, November 13th. Morgan Stanley upped their target price on shares of Maplebear from $41.00 to $44.00 and gave the company an “equal weight” rating in a research note on Monday, January 13th. Seaport Res Ptn upgraded Maplebear to a “strong-buy” rating in a research note on Wednesday, February 12th. Macquarie boosted their target price on shares of Maplebear from $50.00 to $52.00 and gave the stock an “outperform” rating in a research report on Thursday, November 14th. Finally, BMO Capital Markets upped their price target on Maplebear from $39.00 to $48.00 and gave the company a “market perform” rating in a research report on Wednesday, November 13th. Thirteen analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $48.96.

Insider Buying and Selling

In related news, CEO Fidji Simo sold 20,750 shares of the business’s stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $42.74, for a total value of $886,855.00. Following the sale, the chief executive officer now directly owns 1,771,993 shares in the company, valued at $75,734,980.82. The trade was a 1.16 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Alan Ramsay sold 2,247 shares of the stock in a transaction on Friday, December 20th. The shares were sold at an average price of $42.14, for a total value of $94,688.58. Following the sale, the chief accounting officer now owns 87,735 shares of the company’s stock, valued at $3,697,152.90. This trade represents a 2.50 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 25,311 shares of company stock valued at $1,088,636 over the last quarter. Corporate insiders own 36.00% of the company’s stock.

Maplebear Stock Down 0.4 %

CART stock opened at $52.32 on Monday. The company has a 50-day simple moving average of $46.20 and a 200 day simple moving average of $42.44. The company has a market capitalization of $13.44 billion, a P/E ratio of 35.11, a PEG ratio of 1.19 and a beta of 1.07. Maplebear Inc. has a fifty-two week low of $28.56 and a fifty-two week high of $53.44.

About Maplebear

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.