Maplebear Inc. (NASDAQ:CART) Shares Purchased by HighVista Strategies LLC

HighVista Strategies LLC grew its position in Maplebear Inc. (NASDAQ:CART) by 49.0% in the second quarter, HoldingsChannel reports. The institutional investor owned 92,988 shares of the company’s stock after acquiring an additional 30,588 shares during the period. Maplebear makes up 1.1% of HighVista Strategies LLC’s portfolio, making the stock its 20th biggest holding. HighVista Strategies LLC’s holdings in Maplebear were worth $2,989,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank acquired a new stake in Maplebear during the 4th quarter worth approximately $78,674,000. Vanguard Group Inc. raised its stake in shares of Maplebear by 239.1% in the first quarter. Vanguard Group Inc. now owns 213,496 shares of the company’s stock valued at $7,961,000 after acquiring an additional 150,544 shares in the last quarter. Assenagon Asset Management S.A. purchased a new position in Maplebear in the second quarter valued at $8,293,000. Investment House LLC acquired a new position in Maplebear during the 2nd quarter worth $750,000. Finally, GSA Capital Partners LLP acquired a new position in Maplebear during the 1st quarter worth $1,673,000. Hedge funds and other institutional investors own 63.09% of the company’s stock.

Analyst Ratings Changes

CART has been the subject of a number of recent research reports. Needham & Company LLC reiterated a “hold” rating on shares of Maplebear in a research note on Wednesday, August 7th. Piper Sandler lifted their price objective on shares of Maplebear from $47.00 to $50.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 7th. Wedbush lifted their price target on Maplebear from $35.00 to $38.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. Benchmark reiterated a “hold” rating on shares of Maplebear in a report on Wednesday, August 7th. Finally, BMO Capital Markets boosted their target price on Maplebear from $36.00 to $39.00 and gave the stock a “market perform” rating in a research note on Wednesday, August 7th. Ten analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $42.81.

Insiders Place Their Bets

In other news, General Counsel Morgan Fong sold 10,992 shares of Maplebear stock in a transaction on Friday, September 20th. The stock was sold at an average price of $41.38, for a total transaction of $454,848.96. Following the completion of the transaction, the general counsel now owns 298,984 shares of the company’s stock, valued at approximately $12,371,957.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Maplebear news, CEO Fidji Simo sold 33,000 shares of the stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $35.27, for a total transaction of $1,163,910.00. Following the sale, the chief executive officer now owns 1,844,778 shares in the company, valued at approximately $65,065,320.06. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, General Counsel Morgan Fong sold 10,992 shares of the business’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $41.38, for a total value of $454,848.96. Following the completion of the transaction, the general counsel now directly owns 298,984 shares of the company’s stock, valued at $12,371,957.92. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 73,669 shares of company stock worth $2,682,769. 36.00% of the stock is owned by corporate insiders.

Maplebear Trading Up 0.7 %

Shares of CART opened at $42.14 on Monday. Maplebear Inc. has a 52-week low of $22.13 and a 52-week high of $42.58. The company has a 50-day simple moving average of $34.75 and a 200-day simple moving average of $34.72.

Maplebear (NASDAQ:CART) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.13 by $0.07. Maplebear had a negative net margin of 52.21% and a negative return on equity of 49.98%. The company had revenue of $823.00 million during the quarter, compared to the consensus estimate of $806.35 million. Maplebear’s revenue was up 14.9% on a year-over-year basis. As a group, research analysts anticipate that Maplebear Inc. will post 1.12 EPS for the current year.

Maplebear Profile

Maplebear Inc, doing business as Instacart, provides online grocery shopping services to households in North America. It sells and delivers grocery products. The company offers its services through a mobile application and website. It also provides software-as-a-service solutions to retailers. The company was incorporated in 2012 and is based in San Francisco, California.