Sterling Capital Management LLC Purchases 8,220 Shares of Maplebear Inc. (NASDAQ:CART)

Sterling Capital Management LLC boosted its position in Maplebear Inc. (NASDAQ:CART) by 125.3% in the fourth quarter, Holdings Channel.com reports. The firm owned 14,780 shares of the company’s stock after purchasing an additional 8,220 shares during the quarter. Sterling Capital Management LLC’s holdings in Maplebear were worth $612,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of CART. Jones Financial Companies Lllp raised its position in Maplebear by 46.6% during the 4th quarter. Jones Financial Companies Lllp now owns 698 shares of the company’s stock worth $29,000 after purchasing an additional 222 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of Maplebear in the third quarter valued at about $33,000. Allworth Financial LP raised its position in shares of Maplebear by 101.4% during the fourth quarter. Allworth Financial LP now owns 834 shares of the company’s stock worth $37,000 after acquiring an additional 420 shares during the last quarter. Cullen Frost Bankers Inc. acquired a new position in shares of Maplebear in the fourth quarter worth approximately $62,000. Finally, PNC Financial Services Group Inc. boosted its holdings in Maplebear by 243.3% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,399 shares of the company’s stock valued at $141,000 after acquiring an additional 2,409 shares during the last quarter. 63.09% of the stock is currently owned by institutional investors.

Maplebear Price Performance

NASDAQ CART opened at $42.99 on Friday. The company has a fifty day moving average price of $42.12 and a 200-day moving average price of $43.49. The firm has a market cap of $11.29 billion, a price-to-earnings ratio of 28.85, a PEG ratio of 1.19 and a beta of 1.20. Maplebear Inc. has a 1 year low of $29.84 and a 1 year high of $53.44.

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

Insider Activity

In related news, CAO Alan Ramsay sold 2,314 shares of the stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $46.28, for a total transaction of $107,091.92. Following the completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Fidji Simo sold 2,033 shares of the firm’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $40.00, for a total transaction of $81,320.00. Following 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 position. The disclosure for this sale can be found here. Insiders sold a total of 33,230 shares of company stock valued at $1,425,427 over the last three months. Corporate insiders own 36.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. Benchmark restated a “hold” rating on shares of Maplebear in a report on Wednesday, February 26th. Stifel Nicolaus lifted their target price on shares of Maplebear from $56.00 to $57.00 and gave the stock a “buy” rating in a research note on Wednesday, February 26th. Barclays upped their price target on shares of Maplebear from $56.00 to $58.00 and gave the company an “overweight” rating in a research report on Wednesday, February 26th. BTIG Research raised Maplebear from a “neutral” rating to a “buy” rating and set a $58.00 price objective for the company in a research report on Tuesday, January 14th. Finally, Seaport Res Ptn upgraded Maplebear to a “strong-buy” rating in a research report on Wednesday, February 12th. Twelve equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Maplebear currently has an average rating of “Moderate Buy” and an average price target of $50.61.

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.