Elo Mutual Pension Insurance Co Increases Stock Holdings in Maplebear Inc. $CART

Elo Mutual Pension Insurance Co raised its position in Maplebear Inc. (NASDAQ:CART) by 60.9% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 44,730 shares of the company’s stock after buying an additional 16,926 shares during the quarter. Elo Mutual Pension Insurance Co’s holdings in Maplebear were worth $2,024,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of CART. Vanguard Group Inc. boosted its holdings in shares of Maplebear by 3.4% in the first quarter. Vanguard Group Inc. now owns 16,514,830 shares of the company’s stock valued at $658,777,000 after acquiring an additional 546,472 shares in the last quarter. T. Rowe Price Investment Management Inc. boosted its holdings in Maplebear by 10.2% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 5,226,979 shares of the company’s stock valued at $208,505,000 after purchasing an additional 482,327 shares in the last quarter. Boston Partners increased its position in Maplebear by 93.3% during the 2nd quarter. Boston Partners now owns 3,961,838 shares of the company’s stock worth $179,261,000 after purchasing an additional 1,911,771 shares during the period. Altimeter Capital Management LP raised its stake in shares of Maplebear by 31.9% during the 1st quarter. Altimeter Capital Management LP now owns 3,348,128 shares of the company’s stock worth $133,557,000 after buying an additional 810,510 shares in the last quarter. Finally, William Blair Investment Management LLC acquired a new stake in shares of Maplebear in the 2nd quarter valued at approximately $151,364,000. Hedge funds and other institutional investors own 63.09% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on CART shares. Wells Fargo & Company dropped their price objective on Maplebear from $57.00 to $47.00 and set an “equal weight” rating on the stock in a report on Friday, October 3rd. Needham & Company LLC lowered their price target on shares of Maplebear from $66.00 to $50.00 and set a “buy” rating on the stock in a research note on Tuesday, November 11th. Stifel Nicolaus cut their price target on shares of Maplebear from $56.00 to $49.00 and set a “buy” rating for the company in a report on Friday, October 24th. Bank of America boosted their price objective on shares of Maplebear from $53.00 to $58.00 and gave the stock a “neutral” rating in a report on Friday, August 8th. Finally, Morgan Stanley increased their target price on shares of Maplebear from $45.00 to $48.00 and gave the company an “equal weight” rating in a report on Friday, August 15th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $51.40.

Maplebear Stock Performance

Shares of NASDAQ:CART opened at $42.20 on Thursday. The business’s fifty day moving average price is $39.37 and its two-hundred day moving average price is $43.77. The stock has a market cap of $11.08 billion, a PE ratio of 23.19, a price-to-earnings-growth ratio of 1.38 and a beta of 1.10. Maplebear Inc. has a one year low of $34.78 and a one year high of $53.50.

Maplebear (NASDAQ:CART) last released its quarterly earnings results on Monday, November 10th. The company reported $0.51 earnings per share for the quarter, topping analysts’ consensus estimates of $0.50 by $0.01. The company had revenue of $939.00 million during the quarter, compared to analysts’ expectations of $933.76 million. Maplebear had a return on equity of 15.72% and a net margin of 14.09%.The business’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.42 earnings per share. As a group, equities research analysts predict that Maplebear Inc. will post 1.43 earnings per share for the current fiscal year.

Insider Activity at Maplebear

In other news, CEO Chris Rogers sold 9,259 shares of the business’s stock in a transaction that occurred on Monday, September 22nd. The shares were sold at an average price of $42.37, for a total value of $392,303.83. Following the completion of the transaction, the chief executive officer owned 739,880 shares of the company’s stock, valued at $31,348,715.60. The trade was a 1.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, General Counsel Morgan Fong sold 3,546 shares of the company’s stock in a transaction that occurred on Monday, October 20th. The shares were sold at an average price of $38.85, for a total transaction of $137,762.10. Following the transaction, the general counsel directly owned 427,523 shares in the company, valued at $16,609,268.55. The trade was a 0.82% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 27,556 shares of company stock valued at $1,179,482. 26.00% of the stock is owned by insiders.

Maplebear Profile

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.