Bailard Inc. Buys Shares of 24,818 Maplebear Inc. (NASDAQ:CART)

Bailard Inc. bought a new stake in Maplebear Inc. (NASDAQ:CART) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 24,818 shares of the company’s stock, valued at approximately $1,028,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CART. US Bancorp DE grew its stake in shares of Maplebear by 22.3% in the fourth quarter. US Bancorp DE now owns 13,077 shares of the company’s stock worth $542,000 after acquiring an additional 2,387 shares in the last quarter. Oppenheimer & Co. Inc. grew its stake in shares of Maplebear by 35.7% in the fourth quarter. Oppenheimer & Co. Inc. now owns 16,408 shares of the company’s stock worth $680,000 after acquiring an additional 4,318 shares in the last quarter. GenTrust LLC acquired a new position in shares of Maplebear in the fourth quarter worth $22,593,000. Lake Street Advisors Group LLC acquired a new position in shares of Maplebear in the fourth quarter worth $373,000. Finally, Bank of New York Mellon Corp grew its stake in shares of Maplebear by 4.1% in the fourth quarter. Bank of New York Mellon Corp now owns 593,480 shares of the company’s stock worth $24,582,000 after acquiring an additional 23,295 shares in the last quarter. Hedge funds and other institutional investors own 63.09% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Barclays boosted their price target on shares of Maplebear from $56.00 to $58.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 26th. Bank of America boosted their price target on shares of Maplebear from $51.00 to $53.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 25th. Mizuho dropped their price target on shares of Maplebear from $55.00 to $52.00 and set an “outperform” rating for the company in a research note on Wednesday, February 26th. Wedbush lowered their target price on shares of Maplebear from $48.00 to $46.00 and set a “neutral” rating for the company in a research note on Wednesday, February 26th. Finally, Stifel Nicolaus boosted 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. Thirteen analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $49.92.

Insider Activity

In related news, CAO Alan Ramsay sold 2,314 shares of the stock in a transaction dated Tuesday, January 21st. The shares were 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 of the company’s stock, valued at $3,953,283.88. This represents a 2.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Fidji Simo sold 20,750 shares of the stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $42.74, for a total transaction of $886,855.00. Following the transaction, the chief executive officer now directly owns 1,771,993 shares of the company’s stock, valued at $75,734,980.82. This represents a 1.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 46,061 shares of company stock valued at $1,987,318. Insiders own 36.00% of the company’s stock.

Maplebear Stock Performance

Shares of NASDAQ:CART opened at $38.90 on Tuesday. The company has a 50-day simple moving average of $46.37 and a 200-day simple moving average of $42.92. Maplebear Inc. has a one year low of $29.84 and a one year high of $53.44. The stock has a market capitalization of $9.99 billion, a price-to-earnings ratio of 26.11, a PEG ratio of 1.19 and a beta of 1.07.

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

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.