Jacobs Levy Equity Management Inc. Purchases 166,058 Shares of Maplebear Inc. (NASDAQ:CART)

Jacobs Levy Equity Management Inc. raised its holdings in shares of Maplebear Inc. (NASDAQ:CART) by 11.1% in the third quarter, Holdings Channel reports. The institutional investor owned 1,665,421 shares of the company’s stock after buying an additional 166,058 shares during the quarter. Jacobs Levy Equity Management Inc.’s holdings in Maplebear were worth $67,849,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. Huntington National Bank acquired a new position in Maplebear in the 3rd quarter valued at $54,000. nVerses Capital LLC grew its stake in Maplebear by 1,600.0% in the second quarter. nVerses Capital LLC now owns 1,700 shares of the company’s stock valued at $55,000 after acquiring an additional 1,600 shares during the period. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Maplebear in the third quarter valued at approximately $74,000. Quarry LP increased its position in Maplebear by 269.5% in the second quarter. Quarry LP now owns 3,928 shares of the company’s stock worth $126,000 after buying an additional 2,865 shares during the last quarter. Finally, Vinva Investment Management Ltd purchased a new position in shares of Maplebear in the third quarter valued at $212,000. 63.09% of the stock is currently owned by institutional investors and hedge funds.

Maplebear Price Performance

Shares of CART stock opened at $43.51 on Tuesday. The company’s fifty day moving average price is $43.20 and its 200-day moving average price is $37.14. Maplebear Inc. has a one year low of $22.13 and a one year high of $50.01. The company has a market capitalization of $11.18 billion, a price-to-earnings ratio of 29.20, a PEG ratio of 1.13 and a beta of 0.94.

Maplebear (NASDAQ:CART) last issued its quarterly earnings results on Tuesday, November 12th. The company reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.20. Maplebear had a return on equity of 13.78% and a net margin of 13.37%. The business had revenue of $852.00 million during the quarter, compared to the consensus estimate of $844.03 million. During the same quarter last year, the company earned ($20.86) earnings per share. The company’s quarterly revenue was up 11.5% on a year-over-year basis. Equities research analysts expect that Maplebear Inc. will post 1.4 earnings per share for the current fiscal year.

Analyst Ratings Changes

CART has been the subject of several research analyst reports. JMP Securities lifted their price target on Maplebear from $42.00 to $51.00 and gave the stock a “market outperform” rating in a research note on Wednesday, November 13th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $45.00 price objective on shares of Maplebear in a research report on Monday, October 7th. Oppenheimer raised their target price on Maplebear from $55.00 to $60.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Raymond James initiated coverage on Maplebear in a research note on Tuesday, September 24th. They issued a “market perform” rating for the company. Finally, Bank of America increased their price target on shares of Maplebear from $50.00 to $51.00 and gave the company a “neutral” rating in a report on Wednesday, November 13th. Thirteen research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $46.82.

Insider Activity at Maplebear

In other news, General Counsel Morgan Fong sold 29,253 shares of the firm’s stock in a transaction dated Thursday, November 7th. The shares were 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 directly owns 258,406 shares of the company’s stock, valued at approximately $12,411,240.18. This trade represents a 10.17 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Fidji Simo sold 20,750 shares of the 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 in the company, valued at $77,528,321.71. The trade was a 1.14 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 110,954 shares of company stock worth $4,890,405. Company insiders own 36.00% of the company’s stock.

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.