Dynamic Technology Lab Private Ltd Takes $575,000 Position in Maplebear Inc. (NASDAQ:CART)

Dynamic Technology Lab Private Ltd bought a new position in shares of Maplebear Inc. (NASDAQ:CART) during the 4th quarter, Holdings Channel reports. The fund bought 13,890 shares of the company’s stock, valued at approximately $575,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Motley Fool Asset Management LLC lifted its position in shares of Maplebear by 15.4% during the 4th quarter. Motley Fool Asset Management LLC now owns 6,193 shares of the company’s stock valued at $257,000 after acquiring an additional 828 shares during the period. Trexquant Investment LP purchased a new stake in Maplebear during the fourth quarter worth $2,753,000. National Bank of Canada FI increased its position in shares of Maplebear by 3,628.1% in the fourth quarter. National Bank of Canada FI now owns 41,867 shares of the company’s stock valued at $1,734,000 after buying an additional 40,744 shares in the last quarter. Alliancebernstein L.P. boosted its position in shares of Maplebear by 343.6% in the 4th quarter. Alliancebernstein L.P. now owns 371,140 shares of the company’s stock worth $15,373,000 after buying an additional 287,477 shares in the last quarter. Finally, Wellington Management Group LLP grew its stake in Maplebear by 867.0% in the 4th quarter. Wellington Management Group LLP now owns 554,882 shares of the company’s stock valued at $22,983,000 after acquiring an additional 497,499 shares during the last quarter. Institutional investors and hedge funds own 63.09% of the company’s stock.

Maplebear Trading Up 0.1 %

CART opened at $37.41 on Tuesday. Maplebear Inc. has a twelve month low of $29.84 and a twelve month high of $53.44. The firm has a market cap of $9.90 billion, a price-to-earnings ratio of 25.11, a PEG ratio of 1.19 and a beta of 1.20. The company has a fifty day simple moving average of $43.81 and a 200 day simple moving average of $43.58.

Maplebear (NASDAQ:CART) last announced its earnings results on Tuesday, February 25th. The company reported $0.53 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.16. Maplebear had a return on equity of 13.78% and a net margin of 13.37%. The company had revenue of $883.00 million during the quarter, compared to the consensus estimate of $889.98 million. On average, analysts forecast that Maplebear Inc. will post 1.43 earnings per share for the current fiscal year.

Insider Buying and Selling at Maplebear

In other news, CAO Alan Ramsay sold 2,314 shares of the company’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $46.28, for a total value of $107,091.92. Following the sale, the chief accounting officer now owns 85,421 shares in the company, valued at approximately $3,953,283.88. This represents a 2.64 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Fidji Simo sold 2,033 shares of Maplebear stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $40.00, for a total value of $81,320.00. Following the completion of the transaction, 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. Insiders sold a total of 25,097 shares of company stock worth $1,087,094 in the last 90 days. 36.00% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the stock. Wedbush dropped their price objective on shares of Maplebear from $48.00 to $46.00 and set a “neutral” rating for the company in a research note on Wednesday, February 26th. Mizuho reduced their target price on shares of Maplebear from $55.00 to $52.00 and set an “outperform” rating on the stock in a report on Wednesday, February 26th. Needham & Company LLC reissued a “buy” rating and set a $56.00 price objective on shares of Maplebear in a research note on Wednesday, February 26th. FBN Securities assumed coverage on shares of Maplebear in a research note on Friday, March 28th. They issued a “sector perform” rating and a $44.00 target price for the company. Finally, Wells Fargo & Company decreased their price objective on Maplebear from $47.00 to $44.00 and set an “equal weight” rating on the stock in a report on Thursday, April 3rd. Thirteen analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $50.13.

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.