Maplebear Inc. (NASDAQ:CART) Shares Purchased by Eos Management L.P.

Eos Management L.P. raised its holdings in Maplebear Inc. (NASDAQ:CART) by 76.2% during the fourth quarter, Holdings Channel reports. The institutional investor owned 55,532 shares of the company’s stock after buying an additional 24,024 shares during the period. Maplebear makes up about 1.0% of Eos Management L.P.’s holdings, making the stock its 22nd largest position. Eos Management L.P.’s holdings in Maplebear were worth $2,300,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Marathon Trading Investment Management LLC acquired a new stake in Maplebear during the fourth quarter worth approximately $393,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Maplebear by 47.3% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 44,558 shares of the company’s stock valued at $1,846,000 after buying an additional 14,300 shares during the last quarter. Taika Capital LP acquired a new stake in Maplebear during the 4th quarter worth $747,000. Amundi lifted its position in Maplebear by 30.7% in the fourth quarter. Amundi now owns 97,817 shares of the company’s stock valued at $4,384,000 after acquiring an additional 22,976 shares during the last quarter. Finally, PNC Financial Services Group Inc. boosted its stake in Maplebear by 243.3% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,399 shares of the company’s stock valued at $141,000 after acquiring an additional 2,409 shares in the last quarter. 63.09% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Fidji Simo sold 20,750 shares of Maplebear stock in a transaction that occurred 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 completion of the transaction, 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 in the company, valued at approximately $3,697,152.90. This trade represents a 2.50 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 46,061 shares of company stock valued at $1,987,318. 36.00% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research firms have recently commented on CART. BTIG Research upgraded Maplebear from a “neutral” rating to a “buy” rating and set a $58.00 target price on the stock in a research report on Tuesday, January 14th. JMP Securities lifted their price target on Maplebear from $42.00 to $51.00 and gave the stock a “market outperform” rating in a research report on Wednesday, November 13th. Oppenheimer decreased their price objective on Maplebear from $65.00 to $60.00 and set an “outperform” rating for the company in a report on Wednesday, February 26th. BMO Capital Markets raised their target price 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. Finally, Macquarie upped their price target on shares of Maplebear from $52.00 to $55.00 and gave the company an “outperform” rating in a research report on Thursday, February 27th. Thirteen analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Maplebear has a consensus rating of “Moderate Buy” and an average price target of $50.21.

Maplebear Stock Down 4.0 %

Shares of CART opened at $38.31 on Tuesday. Maplebear Inc. has a 52-week low of $29.84 and a 52-week high of $53.44. The company has a 50-day simple moving average of $45.91 and a 200-day simple moving average of $43.11. The company has a market capitalization of $10.14 billion, a PE ratio of 25.71, a P/E/G ratio of 1.19 and a beta of 1.34.

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

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.