230,200 Shares in Maplebear Inc. $CART Bought by Swedbank AB

Swedbank AB bought a new stake in Maplebear Inc. (NASDAQ:CART) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 230,200 shares of the company’s stock, valued at approximately $8,462,000.

Several other hedge funds also recently bought and sold shares of CART. JPMorgan Chase & Co. grew its position in shares of Maplebear by 7.5% in the second quarter. JPMorgan Chase & Co. now owns 1,040,129 shares of the company’s stock valued at $47,055,000 after purchasing an additional 72,643 shares during the last quarter. Champlain Investment Partners LLC boosted its stake in Maplebear by 64.4% during the 2nd quarter. Champlain Investment Partners LLC now owns 2,157,010 shares of the company’s stock valued at $97,583,000 after purchasing an additional 845,070 shares during the period. Sentry Investment Management LLC acquired a new stake in Maplebear in the 2nd quarter valued at approximately $391,000. Mitsubishi UFJ Trust & Banking Corp grew its holdings in Maplebear by 261.8% in the 2nd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 99,868 shares of the company’s stock valued at $4,518,000 after buying an additional 72,265 shares during the last quarter. Finally, Norges Bank bought a new position in Maplebear in the 2nd quarter worth approximately $97,351,000. 63.09% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Fidji Simo sold 1,014 shares of the company’s stock in a transaction that occurred on Thursday, October 16th. The stock was sold at an average price of $40.00, for a total value of $40,560.00. Following the sale, the director directly owned 569,742 shares in the company, valued at approximately $22,789,680. This represents a 0.18% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, General Counsel Morgan Fong sold 4,914 shares of the stock in a transaction that occurred on Monday, December 22nd. The stock was sold at an average price of $45.21, for a total value of $222,161.94. Following the completion of the transaction, the general counsel directly owned 404,940 shares of the company’s stock, valued at approximately $18,307,337.40. The trade was a 1.20% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 12,525 shares of company stock worth $521,304 over the last ninety days. Company insiders own 26.00% of the company’s stock.

Maplebear Price Performance

Shares of Maplebear stock opened at $45.85 on Friday. Maplebear Inc. has a 52-week low of $34.78 and a 52-week high of $53.50. The firm has a market capitalization of $12.04 billion, a PE ratio of 25.19, a price-to-earnings-growth ratio of 1.49 and a beta of 1.01. The company’s fifty day moving average price is $41.33 and its two-hundred day moving average price is $43.53.

Maplebear (NASDAQ:CART) last issued its earnings results on Monday, November 10th. The company reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.01. The business had revenue of $939.00 million for the quarter, compared to analyst estimates of $933.76 million. Maplebear had a net margin of 14.09% and a return on equity of 15.72%. The firm’s revenue was up 10.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.42 EPS. Analysts predict that Maplebear Inc. will post 1.43 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on CART shares. Wells Fargo & Company lowered their price objective on shares of Maplebear from $57.00 to $47.00 and set an “equal weight” rating on the stock in a research note on Friday, October 3rd. Stifel Nicolaus decreased their price target on shares of Maplebear from $56.00 to $49.00 and set a “buy” rating on the stock in a research report on Friday, October 24th. Guggenheim started coverage on shares of Maplebear in a report on Wednesday, October 15th. They set a “neutral” rating and a $40.00 price objective on the stock. Mizuho assumed coverage on shares of Maplebear in a research report on Tuesday, September 30th. They set a “neutral” rating and a $45.00 price objective for the company. Finally, JPMorgan Chase & Co. reduced their target price on shares of Maplebear from $65.00 to $55.00 and set an “overweight” rating for the company in a research note on Tuesday, November 11th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Maplebear has a consensus rating of “Moderate Buy” and an average price target of $52.21.

Maplebear 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.