5,662 Shares in Maplebear Inc. (NASDAQ:CART) Bought by Cherry Creek Investment Advisors Inc.

Cherry Creek Investment Advisors Inc. bought a new stake in shares of Maplebear Inc. (NASDAQ:CART) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 5,662 shares of the company’s stock, valued at approximately $235,000.

Several other hedge funds have also bought and sold shares of CART. Pacer Advisors Inc. bought a new stake in shares of Maplebear in the third quarter worth about $158,701,000. Geode Capital Management LLC increased its stake in Maplebear by 151.7% in the 3rd quarter. Geode Capital Management LLC now owns 2,732,738 shares of the company’s stock worth $111,361,000 after acquiring an additional 1,647,081 shares during the last quarter. Maverick Capital Ltd. raised its holdings in shares of Maplebear by 19.7% during the 3rd quarter. Maverick Capital Ltd. now owns 2,684,425 shares of the company’s stock worth $109,363,000 after acquiring an additional 441,156 shares in the last quarter. State Street Corp increased its position in Maplebear by 48.3% in the third 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 during the last quarter. Finally, Southpoint Capital Advisors LP raised its stake in Maplebear by 56.3% during the third quarter. Southpoint Capital Advisors LP now owns 2,500,000 shares of the company’s stock valued at $101,850,000 after purchasing an additional 900,000 shares in the last quarter. Hedge funds and other institutional investors own 63.09% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Robert W. Baird boosted their target price on shares of Maplebear from $44.00 to $51.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Bank of America upped their price objective on Maplebear from $50.00 to $51.00 and gave the company a “neutral” rating in a research report on Wednesday, November 13th. JPMorgan Chase & Co. lifted their target price on Maplebear from $47.00 to $52.00 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. Cantor Fitzgerald restated an “overweight” rating and set a $45.00 price target on shares of Maplebear in a report on Monday, October 7th. Finally, Barclays boosted their price objective on shares of Maplebear from $48.00 to $56.00 and gave the company an “overweight” rating in a research report on Wednesday, November 13th. Thirteen analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $48.96.

Maplebear Stock Down 0.7 %

Shares of CART stock opened at $45.65 on Tuesday. Maplebear Inc. has a 52-week low of $23.59 and a 52-week high of $50.01. The stock’s 50-day moving average price is $43.58 and its 200 day moving average price is $40.26. The stock has a market capitalization of $11.73 billion, a PE ratio of 30.64, a price-to-earnings-growth ratio of 1.01 and a beta of 1.04.

Maplebear (NASDAQ:CART) last issued its quarterly earnings results on Tuesday, November 12th. The company reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.20. The firm had revenue of $852.00 million during the quarter, compared to the consensus estimate of $844.03 million. Maplebear had a return on equity of 13.78% and a net margin of 13.37%. The company’s revenue for the quarter was up 11.5% on a year-over-year basis. During the same period last year, the company earned ($20.86) earnings per share. Analysts expect that Maplebear Inc. will post 1.42 earnings per share for the current fiscal year.

Insider Transactions at Maplebear

In other Maplebear news, General Counsel Morgan Fong sold 29,253 shares of the business’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $48.03, for a total transaction of $1,405,021.59. Following the sale, the general counsel now directly owns 258,406 shares in the company, valued at approximately $12,411,240.18. The trade was a 10.17 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Alan Ramsay sold 2,314 shares of the company’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $46.28, for a total transaction of $107,091.92. Following the transaction, the chief accounting officer now directly owns 85,421 shares in the company, valued at approximately $3,953,283.88. This trade represents a 2.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 79,808 shares of company stock worth $3,569,808. Company insiders own 36.00% of the company’s stock.

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.