Parallel Advisors LLC Buys 18,897 Shares of Maplebear Inc. (NASDAQ:CART)

Parallel Advisors LLC lifted its stake in shares of Maplebear Inc. (NASDAQ:CART) by 269.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 25,911 shares of the company’s stock after purchasing an additional 18,897 shares during the quarter. Parallel Advisors LLC’s holdings in Maplebear were worth $1,073,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Jones Financial Companies Lllp grew its holdings in shares of 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. CIBC Asset Management Inc grew its holdings in shares of 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 purchasing an additional 286 shares during the last quarter. Allworth Financial LP grew its holdings in shares of Maplebear by 101.4% during the 4th quarter. Allworth Financial LP now owns 834 shares of the company’s stock valued at $37,000 after purchasing an additional 420 shares during the last quarter. Coldstream Capital Management Inc. grew its holdings in Maplebear by 1.6% during the 3rd quarter. Coldstream Capital Management Inc. now owns 31,745 shares of the company’s stock worth $1,294,000 after acquiring an additional 490 shares during the last quarter. Finally, Oppenheimer & Co. Inc. grew its holdings in Maplebear by 5.1% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 12,090 shares of the company’s stock worth $493,000 after acquiring an additional 584 shares during the last quarter. 63.09% of the stock is owned by institutional investors.

Insider Buying and Selling at Maplebear

In other news, CAO Alan Ramsay sold 2,314 shares of the company’s stock in a transaction on Tuesday, January 21st. The shares were 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 owns 85,421 shares in the company, valued at $3,953,283.88. This represents a 2.64 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Fidji Simo sold 20,750 shares of the company’s stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $43.31, for a total transaction of $898,682.50. Following the completion of the sale, the chief executive officer now owns 1,662,692 shares of the company’s stock, valued at approximately $72,011,190.52. The trade was a 1.23 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 27,344 shares of company stock worth $1,181,783. 36.00% of the stock is owned by corporate insiders.

Maplebear Trading Down 1.0 %

Shares of CART stock opened at $39.74 on Thursday. The firm has a market capitalization of $10.52 billion, a PE ratio of 26.67, a price-to-earnings-growth ratio of 1.19 and a beta of 1.34. The firm has a fifty day simple moving average of $45.33 and a two-hundred day simple moving average of $43.22. Maplebear Inc. has a 12 month low of $29.84 and a 12 month high of $53.44.

Maplebear (NASDAQ:CART) last announced its quarterly earnings results on Tuesday, February 25th. The company reported $0.53 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.16. The business had revenue of $883.00 million during the quarter, compared to analyst estimates of $889.98 million. Maplebear had a net margin of 13.37% and a return on equity of 13.78%. On average, equities analysts predict that Maplebear Inc. will post 1.43 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have weighed in on CART. Loop Capital reduced their target price on shares of Maplebear from $56.00 to $52.00 and set a “buy” rating on the stock in a report on Thursday, March 6th. Morgan Stanley boosted their target price on shares of Maplebear from $44.00 to $45.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 26th. BTIG Research raised shares of Maplebear from a “neutral” rating to a “buy” rating and set a $58.00 target price on the stock in a report on Tuesday, January 14th. Oppenheimer reduced their target price on shares of Maplebear from $65.00 to $60.00 and set an “outperform” rating on the stock in a report on Wednesday, February 26th. Finally, Bank of America boosted their target price on shares of Maplebear from $51.00 to $53.00 and gave the stock a “neutral” rating in a report on Tuesday, February 25th. Thirteen research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Maplebear has an average rating of “Moderate Buy” and an average target price of $50.52.

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.