Swiss National Bank Has $7.37 Million Position in Maplebear Inc. (NASDAQ:CART)

Swiss National Bank lowered its holdings in Maplebear Inc. (NASDAQ:CART) by 1.3% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 180,900 shares of the company’s stock after selling 2,300 shares during the quarter. Swiss National Bank’s holdings in Maplebear were worth $7,370,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the business. Adero Partners LLC acquired a new stake in Maplebear in the 3rd quarter valued at $456,000. CIBC Asset Management Inc lifted its stake in Maplebear by 3.7% during the 3rd quarter. CIBC Asset Management Inc now owns 8,114 shares of the company’s stock valued at $331,000 after acquiring an additional 286 shares in the last quarter. ING Groep NV lifted its stake in Maplebear by 119.7% during the 3rd quarter. ING Groep NV now owns 158,600 shares of the company’s stock valued at $6,461,000 after acquiring an additional 86,400 shares in the last quarter. Huntington National Bank bought a new position in Maplebear during the 3rd quarter valued at $54,000. Finally, Oppenheimer & Co. Inc. lifted its stake in Maplebear by 5.1% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 12,090 shares of the company’s stock valued at $493,000 after acquiring an additional 584 shares in the last quarter. Institutional investors and hedge funds own 63.09% of the company’s stock.

Insider Buying and Selling at Maplebear

In other Maplebear news, General Counsel Morgan Fong sold 29,253 shares of Maplebear stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $48.03, for a total transaction of $1,405,021.59. Following the completion of the transaction, the general counsel now owns 258,406 shares of the company’s stock, valued at $12,411,240.18. The trade was a 10.17 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Fidji Simo sold 33,000 shares of Maplebear stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $35.27, for a total value of $1,163,910.00. Following the transaction, the chief executive officer now directly owns 1,844,778 shares of the company’s stock, valued at $65,065,320.06. The trade was a 1.76 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 123,204 shares of company stock valued at $5,162,688 in the last quarter. 36.00% of the stock is currently owned by corporate insiders.

Maplebear Stock Up 0.9 %

CART stock opened at $43.61 on Tuesday. The firm has a market capitalization of $11.20 billion, a PE ratio of 29.27, a PEG ratio of 1.12 and a beta of 1.12. Maplebear Inc. has a twelve month low of $22.13 and a twelve month high of $50.01. The stock has a 50-day simple moving average of $42.95 and a two-hundred day simple moving average of $36.88.

Maplebear (NASDAQ:CART) last posted its earnings results on Tuesday, November 12th. The company reported $0.42 earnings per share for the quarter, beating analysts’ consensus estimates of $0.22 by $0.20. The business had revenue of $852.00 million during the quarter, compared to analyst estimates of $844.03 million. Maplebear had a return on equity of 13.78% and a net margin of 13.37%. The company’s quarterly revenue was up 11.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($20.86) EPS. On average, equities research analysts anticipate that Maplebear Inc. will post 1.4 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on CART. Wedbush raised their price objective on Maplebear from $35.00 to $38.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. Barclays raised their price objective on Maplebear from $48.00 to $56.00 and gave the company an “overweight” rating in a research note on Wednesday, November 13th. Raymond James started coverage on Maplebear in a research note on Tuesday, September 24th. They set a “market perform” rating on the stock. Jefferies Financial Group started coverage on Maplebear in a research note on Wednesday, October 16th. They set a “hold” rating and a $43.00 target price on the stock. Finally, Benchmark reiterated a “hold” rating on shares of Maplebear in a research note on Wednesday, August 7th. Twelve research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $47.29.

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.