Ieq Capital LLC Raises Stock Holdings in Maplebear Inc. (NASDAQ:CART)

Ieq Capital LLC lifted its holdings in shares of Maplebear Inc. (NASDAQ:CART) by 1.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 225,957 shares of the company’s stock after purchasing an additional 4,140 shares during the quarter. Ieq Capital LLC’s holdings in Maplebear were worth $9,359,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Wilmington Savings Fund Society FSB purchased a new position in shares of Maplebear during the third quarter worth about $33,000. Allworth Financial LP boosted its stake in Maplebear by 101.4% in the fourth quarter. Allworth Financial LP now owns 834 shares of the company’s stock worth $37,000 after buying an additional 420 shares in the last quarter. Huntington National Bank purchased a new stake in Maplebear in the third quarter worth approximately $54,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Maplebear in the third quarter worth approximately $74,000. Finally, Newbridge Financial Services Group Inc. purchased a new stake in Maplebear in the fourth quarter worth approximately $151,000. Hedge funds and other institutional investors own 63.09% of the company’s stock.

Insider Transactions at Maplebear

In other news, CEO Fidji Simo sold 20,750 shares of the stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $42.74, for a total value of $886,855.00. Following the sale, the chief executive officer now directly owns 1,771,993 shares of the company’s stock, valued at approximately $75,734,980.82. This represents a 1.16 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Alan Ramsay sold 2,314 shares of the stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $46.28, for a total value of $107,091.92. Following the completion of the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 46,061 shares of company stock valued at $1,980,263. Insiders own 36.00% of the company’s stock.

Analysts Set New Price Targets

CART has been the subject of several research reports. Piper Sandler upped their target price on Maplebear from $50.00 to $58.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. Bank of America upped their target price on Maplebear from $50.00 to $51.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 13th. Seaport Res Ptn raised Maplebear to a “strong-buy” rating in a research note on Wednesday, February 12th. Loop Capital boosted their price objective on Maplebear from $49.00 to $56.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Finally, Mizuho began coverage on Maplebear in a research report on Tuesday, January 14th. They issued an “outperform” rating and a $55.00 price objective for the company. Thirteen analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $48.96.

Maplebear Trading Down 1.1 %

CART opened at $52.55 on Friday. The stock has a fifty day simple moving average of $45.99 and a two-hundred day simple moving average of $42.14. The company has a market cap of $13.50 billion, a price-to-earnings ratio of 35.27, a price-to-earnings-growth ratio of 1.14 and a beta of 1.07. Maplebear Inc. has a 12-month low of $27.56 and a 12-month high of $53.44.

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.