Industry Ventures L.L.C. Purchases 682,776 Shares of Maplebear Inc. (NASDAQ:CART)

Industry Ventures L.L.C. raised its position in shares of Maplebear Inc. (NASDAQ:CART) by 260.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 945,344 shares of the company’s stock after purchasing an additional 682,776 shares during the quarter. Maplebear accounts for 36.0% of Industry Ventures L.L.C.’s investment portfolio, making the stock its 2nd biggest holding. Industry Ventures L.L.C. owned about 0.34% of Maplebear worth $22,187,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in CART. SC US Ttgp LTD. purchased a new position in shares of Maplebear during the 3rd quarter valued at $1,180,490,000. KPCB DGF II Associates LLC bought a new stake in Maplebear in the third quarter worth $119,544,000. Canaan Partners IX LLC bought a new stake in Maplebear in the fourth quarter worth $87,508,000. Technology Crossover Management XI Ltd. bought a new stake in Maplebear in the third quarter worth $80,163,000. Finally, FMR LLC bought a new stake in Maplebear in the third quarter worth $56,424,000. 63.09% of the stock is owned by institutional investors and hedge funds.

Maplebear Stock Performance

Shares of NASDAQ CART traded down $0.04 during mid-day trading on Wednesday, hitting $37.48. 6,667,911 shares of the stock were exchanged, compared to its average volume of 4,097,668. The stock’s fifty day simple moving average is $36.05 and its two-hundred day simple moving average is $29.09. Maplebear Inc. has a twelve month low of $22.13 and a twelve month high of $42.95.

Maplebear (NASDAQ:CART) last posted its quarterly earnings data on Tuesday, February 13th. The company reported $0.44 earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.52. The firm had revenue of $803.00 million for the quarter, compared to analyst estimates of $804.62 million. The firm’s revenue for the quarter was up 6.1% compared to the same quarter last year. On average, equities analysts forecast that Maplebear Inc. will post 0.53 earnings per share for the current fiscal year.

Insider Buying and Selling at Maplebear

In other Maplebear news, CAO Alan Ramsay sold 12,113 shares of the stock in a transaction on Friday, March 8th. The shares were sold at an average price of $34.33, for a total value of $415,839.29. Following the sale, the chief accounting officer now directly owns 114,205 shares in the company, valued at $3,920,657.65. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Maplebear news, CAO Alan Ramsay sold 12,113 shares of the stock in a transaction on Friday, March 8th. The shares were sold at an average price of $34.33, for a total value of $415,839.29. Following the sale, the chief accounting officer now directly owns 114,205 shares in the company, valued at $3,920,657.65. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Fidji Simo sold 3,236 shares of the stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $35.09, for a total transaction of $113,551.24. Following the completion of the sale, the chief executive officer now owns 2,125,301 shares in the company, valued at $74,576,812.09. The disclosure for this sale can be found here. Over the last ninety days, insiders have acquired 2,157,745 shares of company stock valued at $61,771,955 and have sold 1,055,899 shares valued at $30,422,265. Insiders own 36.00% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Wolfe Research upped their price objective on shares of Maplebear from $35.00 to $39.00 and gave the stock an “outperform” rating in a report on Tuesday, March 5th. Sanford C. Bernstein upgraded shares of Maplebear from a “market perform” rating to an “outperform” rating and upped their price target for the company from $30.00 to $43.00 in a report on Thursday, March 14th. Robert W. Baird upped their price target on shares of Maplebear from $31.00 to $44.00 and gave the company an “outperform” rating in a report on Monday, April 1st. Moffett Nathanson restated a “neutral” rating and set a $37.00 price target (up from $36.00) on shares of Maplebear in a report on Thursday, April 11th. Finally, Piper Sandler upped their price target on shares of Maplebear from $36.00 to $45.00 and gave the company an “overweight” rating in a report on Friday, March 15th. Ten research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Maplebear presently has a consensus rating of “Moderate Buy” and a consensus target price of $39.42.

Maplebear Company Profile

Maplebear Inc, doing business as Instacart, provides online grocery shopping services to households in North America. It sells and delivers grocery products. The company offers its services through a mobile application and website. It also provides software-as-a-service solutions to retailers. The company was incorporated in 2012 and is based in San Francisco, California.