Jupiter Asset Management Ltd. Acquires Shares of 640,339 Maplebear Inc. (NASDAQ:CART)

Jupiter Asset Management Ltd. bought a new stake in Maplebear Inc. (NASDAQ:CART) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 640,339 shares of the company’s stock, valued at approximately $26,523,000.

Several other large investors have also made changes to their positions in CART. Jones Financial Companies Lllp lifted its holdings in Maplebear by 46.6% during the 4th quarter. Jones Financial Companies Lllp now owns 698 shares of the company’s stock valued at $29,000 after purchasing an additional 222 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of Maplebear during the third quarter worth approximately $33,000. Allworth Financial LP raised its stake in shares of Maplebear by 101.4% in the fourth quarter. Allworth Financial LP now owns 834 shares of the company’s stock valued at $37,000 after acquiring an additional 420 shares during the last quarter. Huntington National Bank acquired a new position in shares of Maplebear in the 3rd quarter worth approximately $54,000. Finally, Cullen Frost Bankers Inc. bought a new stake in Maplebear during the 4th quarter worth approximately $62,000. Institutional investors own 63.09% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on CART shares. JMP Securities increased their target price on Maplebear from $42.00 to $51.00 and gave the stock a “market outperform” rating in a report on Wednesday, November 13th. Mizuho dropped their target price on shares of Maplebear from $55.00 to $52.00 and set an “outperform” rating for the company in a research note on Wednesday, February 26th. Stifel Nicolaus upped their price objective on Maplebear from $56.00 to $57.00 and gave the stock a “buy” rating in a report on Wednesday, February 26th. JPMorgan Chase & Co. lowered their target price on Maplebear from $52.00 to $50.00 and set an “overweight” rating for the company in a research note on Wednesday, February 26th. Finally, Loop Capital decreased their price target on Maplebear from $56.00 to $52.00 and set a “buy” rating on the stock in a report on Thursday, March 6th. Thirteen equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $50.21.

Maplebear Price Performance

NASDAQ:CART opened at $38.80 on Thursday. The company has a market cap of $10.27 billion, a PE ratio of 26.04, a P/E/G ratio of 1.19 and a beta of 1.34. Maplebear Inc. has a one year low of $29.84 and a one year high of $53.44. The firm’s 50 day simple moving average is $45.79 and its 200 day simple moving average is $43.09.

Maplebear (NASDAQ:CART) last announced its earnings results on Tuesday, February 25th. The company reported $0.53 EPS for the quarter, beating the consensus estimate of $0.37 by $0.16. Maplebear had a return on equity of 13.78% and a net margin of 13.37%. The company had revenue of $883.00 million for the quarter, compared to analyst estimates of $889.98 million. Equities research analysts expect that Maplebear Inc. will post 1.43 EPS for the current year.

Insider Activity at Maplebear

In related news, CEO Fidji Simo sold 20,750 shares of the firm’s stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $43.31, for a total value of $898,682.50. Following the completion of the transaction, the chief executive officer now directly owns 1,662,692 shares of the company’s stock, valued at approximately $72,011,190.52. This trade represents a 1.23 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Alan Ramsay sold 2,247 shares of the stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $42.14, for a total transaction of $94,688.58. Following the completion of the sale, the chief accounting officer now owns 87,735 shares in the company, valued at $3,697,152.90. This represents a 2.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 46,061 shares of company stock valued at $1,987,318 over the last 90 days. Insiders own 36.00% of the company’s stock.

About Maplebear

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.