KBC Group NV Has $158,000 Stake in Maplebear Inc. (NASDAQ:CART)

KBC Group NV lifted its position in Maplebear Inc. (NASDAQ:CART) by 56.5% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,808 shares of the company’s stock after buying an additional 1,374 shares during the quarter. KBC Group NV’s holdings in Maplebear were worth $158,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Pacer Advisors Inc. bought a new stake in Maplebear in the third quarter worth approximately $158,701,000. Geode Capital Management LLC lifted its stake in shares of Maplebear by 151.7% in the 3rd quarter. Geode Capital Management LLC now owns 2,732,738 shares of the company’s stock valued at $111,361,000 after purchasing an additional 1,647,081 shares during the last quarter. Maverick Capital Ltd. boosted its holdings in Maplebear by 19.7% in the third quarter. Maverick Capital Ltd. now owns 2,684,425 shares of the company’s stock worth $109,363,000 after purchasing an additional 441,156 shares in the last quarter. State Street Corp increased its position in Maplebear by 48.3% during the third quarter. State Street Corp now owns 2,552,617 shares of the company’s stock worth $103,994,000 after buying an additional 831,795 shares during the last quarter. Finally, Southpoint Capital Advisors LP raised its holdings 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 buying an additional 900,000 shares in the last quarter. Institutional investors and hedge funds own 63.09% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Oppenheimer increased their price objective on Maplebear from $55.00 to $60.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Jefferies Financial Group started coverage on Maplebear in a report on Wednesday, October 16th. They set a “hold” rating and a $43.00 price target on the stock. Macquarie boosted their price objective on shares of Maplebear from $50.00 to $52.00 and gave the stock an “outperform” rating in a research note on Thursday, November 14th. Bank of America raised their target price on shares of Maplebear from $50.00 to $51.00 and gave the company a “neutral” rating in a research note on Wednesday, November 13th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Maplebear from $47.00 to $52.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 13th. Thirteen equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $48.96.

Insider Activity

In related news, CEO Fidji Simo sold 20,750 shares of the business’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $42.97, for a total value of $891,627.50. Following the sale, the chief executive officer now owns 1,804,243 shares of the company’s stock, valued at $77,528,321.71. The trade was a 1.14 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Alan Ramsay sold 2,247 shares of the stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $41.06, for a total value of $92,261.82. Following the transaction, the chief accounting officer now owns 89,982 shares of the company’s stock, valued at $3,694,660.92. This represents a 2.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 50,555 shares of company stock worth $2,164,787. Company insiders own 36.00% of the company’s stock.

Maplebear Price Performance

Shares of Maplebear stock opened at $48.49 on Thursday. Maplebear Inc. has a 52-week low of $23.59 and a 52-week high of $50.01. The firm has a market capitalization of $12.46 billion, a PE ratio of 32.54, a price-to-earnings-growth ratio of 1.09 and a beta of 1.07. The company’s fifty day moving average price is $44.30 and its two-hundred day moving average price is $40.88.

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 for the quarter, compared to analysts’ expectations of $844.03 million. Maplebear had a net margin of 13.37% and a return on equity of 13.78%. The firm’s revenue for the quarter was up 11.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($20.86) earnings per share. Analysts predict that Maplebear Inc. will post 1.43 earnings per share for the current fiscal year.

Maplebear 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.