Zurcher Kantonalbank Zurich Cantonalbank Purchases 14,300 Shares of Maplebear Inc. (NASDAQ:CART)

Zurcher Kantonalbank Zurich Cantonalbank grew its position in Maplebear Inc. (NASDAQ:CART) by 47.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 44,558 shares of the company’s stock after buying an additional 14,300 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Maplebear were worth $1,846,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Portman Ltd acquired a new stake in Maplebear in the 3rd quarter worth approximately $3,196,000. State Street Corp boosted its stake in Maplebear by 48.3% in the 3rd quarter. State Street Corp now owns 2,552,617 shares of the company’s stock worth $103,994,000 after purchasing an additional 831,795 shares in the last quarter. Cerity Partners LLC acquired a new stake in Maplebear in the 3rd quarter worth approximately $1,442,000. Charles Schwab Investment Management Inc. boosted its stake in Maplebear by 5,191.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,489,655 shares of the company’s stock worth $60,689,000 after purchasing an additional 1,461,501 shares in the last quarter. Finally, Zacks Investment Management acquired a new stake in Maplebear in the 3rd quarter worth approximately $4,853,000. 63.09% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Maplebear news, CAO Alan Ramsay sold 2,247 shares of Maplebear stock in a transaction on Friday, December 20th. The shares were sold at an average price of $42.14, for a total transaction 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. The trade was a 2.50 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Fidji Simo sold 20,750 shares of Maplebear stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $42.74, for a total transaction of $886,855.00. Following the sale, the chief executive officer now directly owns 1,771,993 shares in the company, valued at approximately $75,734,980.82. This trade represents a 1.16 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 46,061 shares of company stock valued at $1,987,318. 36.00% of the stock is owned by corporate insiders.

Maplebear Stock Performance

Shares of NASDAQ CART opened at $40.64 on Tuesday. The firm has a market cap of $10.76 billion, a PE ratio of 27.28, a PEG ratio of 1.19 and a beta of 1.34. The firm has a fifty day moving average of $45.48 and a 200 day moving average of $43.21. Maplebear Inc. has a one year low of $29.84 and a one year high of $53.44.

Maplebear (NASDAQ:CART) last issued its quarterly earnings results on Tuesday, February 25th. The company reported $0.53 EPS for the quarter, topping the consensus estimate of $0.37 by $0.16. The company had revenue of $883.00 million during the quarter, compared to analyst estimates of $889.98 million. Maplebear had a net margin of 13.37% and a return on equity of 13.78%. On average, equities analysts predict that Maplebear Inc. will post 1.43 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently commented on CART. Stifel Nicolaus lifted their target price on shares of Maplebear from $56.00 to $57.00 and gave the stock a “buy” rating in a research note on Wednesday, February 26th. BMO Capital Markets raised their price target on shares of Maplebear from $48.00 to $49.00 and gave the stock a “market perform” rating in a research report on Wednesday, February 26th. BTIG Research raised shares of Maplebear from a “neutral” rating to a “buy” rating and set a $58.00 price target for the company in a research report on Tuesday, January 14th. Needham & Company LLC reissued a “buy” rating and set a $56.00 price target on shares of Maplebear in a research report on Wednesday, February 26th. Finally, Bank of America raised their price target on shares of Maplebear from $51.00 to $53.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 25th. Thirteen investment 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 stock. According to MarketBeat, Maplebear currently has a consensus rating of “Moderate Buy” and a consensus target price of $50.52.

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.