Geode Capital Management LLC Increases Stock Holdings in Maplebear Inc. $CART

Geode Capital Management LLC lifted its stake in shares of Maplebear Inc. (NASDAQ:CART) by 1.6% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,526,124 shares of the company’s stock after buying an additional 54,010 shares during the quarter. Geode Capital Management LLC’s holdings in Maplebear were worth $158,640,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. State Street Corp boosted its stake in shares of Maplebear by 1.3% during the 2nd quarter. State Street Corp now owns 5,101,870 shares of the company’s stock valued at $230,809,000 after buying an additional 66,588 shares during the last quarter. Viking Global Investors LP purchased a new position in shares of Maplebear during the 2nd quarter valued at approximately $169,782,000. Bank of America Corp DE boosted its stake in shares of Maplebear by 75.9% during the 3rd quarter. Bank of America Corp DE now owns 3,036,736 shares of the company’s stock valued at $111,630,000 after buying an additional 1,310,392 shares during the last quarter. Holocene Advisors LP purchased a new position in shares of Maplebear during the 3rd quarter valued at approximately $90,167,000. Finally, UBS Group AG boosted its stake in shares of Maplebear by 28.2% during the 3rd quarter. UBS Group AG now owns 1,971,524 shares of the company’s stock valued at $72,473,000 after buying an additional 433,240 shares during the last quarter. 63.09% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CAO Lisa Blackwood-Kapral sold 9,390 shares of the business’s stock in a transaction that occurred on Wednesday, April 15th. The stock was sold at an average price of $40.25, for a total value of $377,947.50. Following the completion of the sale, the chief accounting officer directly owned 58,971 shares in the company, valued at approximately $2,373,582.75. The trade was a 13.74% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Morgan Fong sold 126,083 shares of the business’s stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $37.09, for a total value of $4,676,418.47. Following the completion of the sale, the general counsel owned 386,643 shares of the company’s stock, valued at $14,340,588.87. This trade represents a 24.59% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 144,863 shares of company stock valued at $5,418,135 over the last quarter. Company insiders own 24.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on CART. Wells Fargo & Company increased their target price on Maplebear from $45.00 to $47.00 and gave the company an “equal weight” rating in a research note on Thursday, May 7th. Jefferies Financial Group upgraded Maplebear from a “hold” rating to a “buy” rating and increased their target price for the company from $38.00 to $45.00 in a research note on Monday, March 30th. Weiss Ratings upgraded Maplebear from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, May 11th. Argus upgraded Maplebear to a “strong-buy” rating in a research note on Thursday, March 5th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $55.00 target price on shares of Maplebear in a research note on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $51.09.

Maplebear Trading Down 1.9%

Shares of NASDAQ CART opened at $39.98 on Thursday. Maplebear Inc. has a twelve month low of $32.73 and a twelve month high of $53.50. The company has a market capitalization of $9.40 billion, a price-to-earnings ratio of 22.34, a price-to-earnings-growth ratio of 0.56 and a beta of 0.88. The business has a 50 day simple moving average of $40.30 and a 200-day simple moving average of $40.22.

Maplebear (NASDAQ:CART) last issued its quarterly earnings results on Wednesday, May 6th. The company reported $0.57 earnings per share for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.01). Maplebear had a net margin of 12.50% and a return on equity of 18.67%. The firm had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.01 billion. During the same quarter last year, the firm posted $0.37 earnings per share. Maplebear’s revenue was up 13.6% compared to the same quarter last year. As a group, equities analysts predict that Maplebear Inc. will post 2.43 earnings per share for the current year.

About Maplebear

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.