Lansforsakringar Fondforvaltning AB publ Buys New Position in Maplebear Inc. $CART

Lansforsakringar Fondforvaltning AB publ purchased a new position in Maplebear Inc. (NASDAQ:CART) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 17,593 shares of the company’s stock, valued at approximately $659,000.

Other large investors have also added to or reduced their stakes in the company. PenderFund Capital Management Ltd. bought a new position in Maplebear in the 4th quarter worth $27,000. Pinnacle Bancorp Inc. bought a new stake in shares of Maplebear during the 1st quarter valued at about $25,000. Allworth Financial LP boosted its stake in shares of Maplebear by 35.7% during the 3rd quarter. Allworth Financial LP now owns 928 shares of the company’s stock valued at $34,000 after purchasing an additional 244 shares in the last quarter. IFP Advisors Inc increased its position in shares of Maplebear by 761.3% during the fourth quarter. IFP Advisors Inc now owns 956 shares of the company’s stock valued at $43,000 after buying an additional 845 shares during the period. Finally, Sunbelt Securities Inc. increased its position in shares of Maplebear by 212.7% during the third quarter. Sunbelt Securities Inc. now owns 1,157 shares of the company’s stock valued at $43,000 after buying an additional 787 shares during the period. Institutional investors own 63.09% of the company’s stock.

Analyst Upgrades and Downgrades

CART has been the subject of several research analyst reports. Citizens Jmp restated a “market outperform” rating and issued a $60.00 price objective on shares of Maplebear in a report on Monday, June 15th. Weiss Ratings upgraded Maplebear from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, May 11th. Needham & Company LLC reissued a “buy” rating and issued a $55.00 target price on shares of Maplebear in a research report on Thursday, May 7th. Wells Fargo & Company increased their target price on Maplebear from $45.00 to $47.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 7th. Finally, Barclays raised their target price on Maplebear from $65.00 to $69.00 and gave the company an “overweight” rating in a research note on Thursday, May 7th. One investment 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 stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $51.09.

Insider Buying and Selling

In other Maplebear news, Director Ravi Gupta sold 181,000 shares of Maplebear stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $41.51, for a total transaction of $7,513,310.00. Following the completion of the transaction, the director owned 741,523 shares in the company, valued at approximately $30,780,619.73. The trade was a 19.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Lisa Blackwood-Kapral sold 9,390 shares of Maplebear stock in a transaction on Wednesday, April 15th. The shares were sold at an average price of $40.25, for a total value of $377,947.50. Following the transaction, the chief accounting officer owned 58,971 shares of the company’s stock, valued at $2,373,582.75. The trade was a 13.74% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 24.00% of the stock is owned by company insiders.

Maplebear Stock Performance

Shares of NASDAQ CART opened at $45.78 on Friday. Maplebear Inc. has a fifty-two week low of $32.73 and a fifty-two week high of $53.50. The company has a 50 day simple moving average of $42.33 and a two-hundred day simple moving average of $40.50. The company has a market capitalization of $10.76 billion, a price-to-earnings ratio of 25.58, a P/E/G ratio of 0.63 and a beta of 0.75.

Maplebear (NASDAQ:CART) last released 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). Maplebear had a net margin of 12.50% and a return on equity of 18.67%. The business had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $1.01 billion. During the same quarter in the previous year, the business posted $0.37 earnings per share. Maplebear’s revenue for the quarter was up 13.6% on a year-over-year basis. On average, analysts forecast that Maplebear Inc. will post 2.45 earnings per share for the current fiscal year.

Maplebear Company 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.