Swiss National Bank Lowers Holdings in Maplebear Inc. (NASDAQ:CART)

Swiss National Bank reduced its holdings in shares of Maplebear Inc. (NASDAQ:CART) by 2.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 177,000 shares of the company’s stock after selling 3,900 shares during the period. Swiss National Bank owned about 0.07% of Maplebear worth $7,331,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Victory Capital Management Inc. increased 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 acquiring an additional 4,487,654 shares during the period. Geode Capital Management LLC increased its holdings in Maplebear by 151.7% during the 3rd quarter. Geode Capital Management LLC now owns 2,732,738 shares of the company’s stock worth $111,361,000 after purchasing an additional 1,647,081 shares during the period. Charles Schwab Investment Management Inc. raised its position 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 valued at $60,689,000 after purchasing an additional 1,461,501 shares in the last quarter. Southpoint Capital Advisors LP boosted its stake in shares of Maplebear by 56.3% in the 3rd quarter. Southpoint Capital Advisors LP now owns 2,500,000 shares of the company’s stock valued at $101,850,000 after buying an additional 900,000 shares during the period. Finally, Simcoe Capital Management LLC grew its position in shares of Maplebear by 216.5% during the third quarter. Simcoe Capital Management LLC now owns 1,225,690 shares of the company’s stock worth $49,935,000 after buying an additional 838,470 shares in the last quarter. 63.09% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. JPMorgan Chase & Co. reduced their target price on shares of Maplebear from $52.00 to $50.00 and set an “overweight” rating on the stock in a report on Wednesday, February 26th. Seaport Res Ptn raised shares of Maplebear to a “strong-buy” rating in a research report on Wednesday, February 12th. Stifel Nicolaus increased their target price on Maplebear from $56.00 to $57.00 and gave the company a “buy” rating in a report on Wednesday, February 26th. Deutsche Bank Aktiengesellschaft started coverage on Maplebear in a report on Tuesday, December 3rd. They set a “hold” rating and a $37.00 price target for the company. Finally, Benchmark reiterated a “hold” rating on shares of Maplebear in a report on Wednesday, February 26th. Thirteen equities 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 stock. Based on data from MarketBeat.com, Maplebear presently has a consensus rating of “Moderate Buy” and a consensus target price of $50.52.

Insider Transactions at Maplebear

In other news, CEO Fidji Simo sold 2,033 shares of the stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $40.00, for a total value of $81,320.00. Following the completion of the transaction, 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 position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Alan Ramsay sold 2,314 shares of the business’s stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $46.28, for a total transaction of $107,091.92. Following the sale, the chief accounting officer now directly owns 85,421 shares in the company, valued at approximately $3,953,283.88. This represents a 2.64 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 25,097 shares of company stock valued at $1,087,094. Corporate insiders own 36.00% of the company’s stock.

Maplebear Price Performance

NASDAQ:CART opened at $38.90 on Friday. The firm has a market cap of $10.29 billion, a price-to-earnings ratio of 26.11, a price-to-earnings-growth ratio of 1.19 and a beta of 1.34. The firm’s fifty day moving average price is $45.10 and its 200 day moving average price is $43.27. Maplebear Inc. has a 1-year low of $29.84 and a 1-year high of $53.44.

Maplebear (NASDAQ:CART) last issued its earnings results on Tuesday, February 25th. The company reported $0.53 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.16. The business had revenue of $883.00 million for the quarter, compared to the consensus estimate of $889.98 million. Maplebear had a net margin of 13.37% and a return on equity of 13.78%. As a group, analysts expect that Maplebear Inc. will post 1.43 earnings per share for the current fiscal 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.