Maplebear Inc. (NASDAQ:CART) Shares Acquired by Renaissance Capital LLC

Renaissance Capital LLC raised its stake in shares of Maplebear Inc. (NASDAQ:CART) by 16.2% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 178,063 shares of the company’s stock after purchasing an additional 24,874 shares during the period. Maplebear accounts for 5.5% of Renaissance Capital LLC’s portfolio, making the stock its 5th largest position. Renaissance Capital LLC owned about 0.07% of Maplebear worth $7,103,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of CART. Jones Financial Companies Lllp increased its position in shares of Maplebear by 46.6% in the fourth quarter. Jones Financial Companies Lllp now owns 698 shares of the company’s stock worth $29,000 after acquiring an additional 222 shares in the last quarter. Allworth Financial LP grew its holdings in 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 in the last quarter. NewEdge Advisors LLC grew its holdings in Maplebear by 277.9% during the 4th quarter. NewEdge Advisors LLC now owns 975 shares of the company’s stock valued at $40,000 after purchasing an additional 717 shares in the last quarter. Anderson Financial Strategies LLC acquired a new stake in Maplebear during the 4th quarter valued at $46,000. Finally, Cullen Frost Bankers Inc. acquired a new stake in Maplebear during the 4th quarter valued at $62,000. Institutional investors and hedge funds own 63.09% of the company’s stock.

Maplebear Price Performance

Maplebear stock opened at $45.67 on Friday. The firm’s 50 day simple moving average is $43.17 and its 200-day simple moving average is $43.69. The company has a market cap of $11.99 billion, a P/E ratio of 30.65, a price-to-earnings-growth ratio of 1.19 and a beta of 1.19. Maplebear Inc. has a fifty-two week low of $29.84 and a fifty-two week high of $53.44.

Maplebear (NASDAQ:CART) last posted its quarterly earnings results on Thursday, May 1st. The company reported $0.37 EPS for the quarter, missing the consensus estimate of $0.38 by ($0.01). The company had revenue of $897.00 million for the quarter, compared to analyst estimates of $896.86 million. Maplebear had a return on equity of 13.78% and a net margin of 13.37%. The business’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.43 earnings per share. On average, analysts expect that Maplebear Inc. will post 1.43 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. FBN Securities assumed coverage on shares of Maplebear in a research note on Friday, March 28th. They set a “sector perform” rating and a $44.00 price objective on the stock. JMP Securities reaffirmed a “market outperform” rating and issued a $55.00 price target on shares of Maplebear in a report on Friday, April 11th. Barclays lifted their price target on shares of Maplebear from $58.00 to $61.00 and gave the company an “overweight” rating in a report on Friday, May 2nd. Wall Street Zen downgraded shares of Maplebear from a “buy” rating to a “hold” rating in a research report on Friday, May 30th. Finally, Citigroup lifted their price objective on shares of Maplebear from $55.00 to $57.00 and gave the company a “buy” rating in a research report on Tuesday, May 13th. Thirteen research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Maplebear presently has a consensus rating of “Moderate Buy” and an average target price of $51.91.

Insider Buying and Selling

In other Maplebear news, General Counsel Morgan Fong sold 5,249 shares of Maplebear stock in a transaction that occurred on Monday, April 21st. The shares were sold at an average price of $42.57, for a total value of $223,449.93. Following the completion of the sale, the general counsel now directly owns 484,292 shares in the company, valued at $20,616,310.44. The trade was a 1.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Fidji Simo sold 2,033 shares of Maplebear stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $40.00, for a total transaction of $81,320.00. Following the completion of the sale, the chief executive officer now owns 1,654,559 shares of the company’s stock, valued at $66,182,360. This trade represents a 0.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 15,415 shares of company stock worth $643,103. 26.00% of the stock is owned by company insiders.

About Maplebear

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.