CenterBook Partners LP Acquires 8,756 Shares of Maplebear Inc. (NASDAQ:CART)

CenterBook Partners LP lifted its stake in Maplebear Inc. (NASDAQ:CART) by 42.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 29,225 shares of the company’s stock after purchasing an additional 8,756 shares during the quarter. CenterBook Partners LP’s holdings in Maplebear were worth $1,210,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CART. Victory Capital Management Inc. grew its stake in shares of Maplebear by 11,501.2% in 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 last quarter. Boston Partners bought a new position in Maplebear in the 4th quarter worth about $111,506,000. Vanguard Group Inc. grew its position in Maplebear by 16.8% during the 4th quarter. Vanguard Group Inc. now owns 15,968,358 shares of the company’s stock valued at $661,409,000 after purchasing an additional 2,300,288 shares during the last quarter. Norges Bank bought a new stake in Maplebear during the 4th quarter valued at about $95,162,000. Finally, Geode Capital Management LLC raised its holdings in Maplebear by 151.7% in the third quarter. Geode Capital Management LLC now owns 2,732,738 shares of the company’s stock worth $111,361,000 after buying an additional 1,647,081 shares during the last quarter. Institutional investors own 63.09% of the company’s stock.

Insider Buying and Selling

In other news, CAO Alan Ramsay sold 2,314 shares of the stock in a transaction that occurred 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 completion of the transaction, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Fidji Simo sold 2,033 shares of the business’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $40.00, for a total transaction of $81,320.00. Following the completion of the sale, the chief executive officer now owns 1,654,559 shares in the company, valued at $66,182,360. This represents a 0.12 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 25,097 shares of company stock worth $1,087,094. 36.00% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts recently weighed in on CART shares. Mizuho reduced their price target on shares of Maplebear from $55.00 to $52.00 and set an “outperform” rating for the company in a research report on Wednesday, February 26th. Cantor Fitzgerald reissued an “overweight” rating and issued a $55.00 target price on shares of Maplebear in a report on Wednesday, February 26th. BTIG Research raised Maplebear from a “neutral” rating to a “buy” rating and set a $58.00 price target on the stock in a report on Tuesday, January 14th. Barclays increased their price objective on Maplebear from $56.00 to $58.00 and gave the company an “overweight” rating in a research report on Wednesday, February 26th. Finally, Loop Capital decreased their target price on Maplebear from $56.00 to $52.00 and set a “buy” rating for the company in a research report on Thursday, March 6th. 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. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $49.88.

Maplebear Price Performance

CART opened at $38.60 on Friday. The company has a 50 day simple moving average of $42.83 and a two-hundred day simple moving average of $43.45. The firm has a market cap of $10.22 billion, a P/E ratio of 25.91, a PEG ratio of 1.19 and a beta of 1.20. 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, topping the consensus estimate of $0.37 by $0.16. The company had revenue of $883.00 million during 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%. Equities analysts anticipate that Maplebear Inc. will post 1.43 earnings per share 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.