2,161,422 Shares in Maplebear Inc. $CART Bought by Norges Bank

Norges Bank bought a new position in Maplebear Inc. (NASDAQ:CART) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 2,161,422 shares of the company’s stock, valued at approximately $97,221,000. Norges Bank owned 0.82% of Maplebear as of its most recent filing with the SEC.

Other hedge funds also recently bought and sold shares of the company. Hantz Financial Services Inc. boosted its holdings in Maplebear by 78.6% in the 3rd quarter. Hantz Financial Services Inc. now owns 884 shares of the company’s stock worth $32,000 after buying an additional 389 shares during the period. Allworth Financial LP boosted its holdings in Maplebear by 35.7% in the 3rd quarter. Allworth Financial LP now owns 928 shares of the company’s stock worth $34,000 after buying an additional 244 shares during the period. Abich Financial Wealth Management LLC bought a new position in Maplebear in the 3rd quarter worth $43,000. Sunbelt Securities Inc. boosted its holdings in Maplebear by 212.7% in the 3rd quarter. Sunbelt Securities Inc. now owns 1,157 shares of the company’s stock worth $43,000 after buying an additional 787 shares during the period. Finally, IFP Advisors Inc boosted its holdings in Maplebear by 761.3% in the 4th quarter. IFP Advisors Inc now owns 956 shares of the company’s stock worth $43,000 after buying an additional 845 shares during the period. Institutional investors own 63.09% of the company’s stock.

Maplebear Stock Down 0.5%

CART opened at $41.26 on Friday. The firm has a 50-day simple moving average of $40.51 and a two-hundred day simple moving average of $40.23. The company has a market capitalization of $9.70 billion, a PE ratio of 23.05, a price-to-earnings-growth ratio of 0.57 and a beta of 0.88. Maplebear Inc. has a 52 week low of $32.73 and a 52 week high of $53.50.

Maplebear (NASDAQ:CART) last announced its earnings results on Wednesday, May 6th. The company reported $0.57 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.58 by ($0.01). The business had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $1.01 billion. Maplebear had a net margin of 12.50% and a return on equity of 18.67%. The firm’s quarterly revenue was up 13.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.37 earnings per share. As a group, sell-side analysts expect that Maplebear Inc. will post 2.45 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts recently weighed in on CART shares. Raymond James Financial raised shares of Maplebear from a “hold” rating to a “moderate buy” rating in a report on Thursday, April 9th. Wall Street Zen downgraded shares of Maplebear from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. Needham & Company LLC reaffirmed a “buy” rating and issued a $55.00 target price on shares of Maplebear in a report on Thursday, May 7th. Weiss Ratings raised shares of Maplebear from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, May 11th. Finally, Wells Fargo & Company increased their price objective on shares of Maplebear from $45.00 to $47.00 and gave the company an “equal weight” rating in a report on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, nine have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $51.09.

Insider Activity

In other news, CAO Lisa Blackwood-Kapral sold 9,390 shares of the company’s stock in a transaction dated Wednesday, April 15th. The shares were sold at an average price of $40.25, for a total transaction of $377,947.50. Following the sale, the chief accounting officer directly owned 58,971 shares in the company, valued at approximately $2,373,582.75. This represents a 13.74% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Morgan Fong sold 126,083 shares of the company’s stock in a transaction dated Wednesday, March 11th. The shares were sold at an average price of $37.09, for a total transaction of $4,676,418.47. Following the sale, the general counsel owned 386,643 shares in the company, valued at $14,340,588.87. This represents a 24.59% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 325,863 shares of company stock worth $12,931,445. 24.00% of the stock is currently owned by corporate insiders.

Maplebear Profile

Maplebear, Inc, doing business as Instacart, operates a leading online grocery and essentials marketplace that connects consumers, retail partners and personal shoppers through its digital platform. The company enables customers to order groceries, household items and specialty products for same-day or scheduled delivery, as well as in-store pickup. By integrating its technology with retailers’ existing inventory and point-of-sale systems, Maplebear streamlines the shopping experience and provides real-time availability and pricing.

Founded in 2012 and headquartered in San Francisco, Maplebear has grown from a regional startup to a publicly traded company listed on NASDAQ under the ticker CART.