Bayesian Capital Management LP Has $339,000 Position in Maplebear Inc. (NASDAQ:CART)

Bayesian Capital Management LP reduced its position in shares of Maplebear Inc. (NASDAQ:CART) by 3.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,096 shares of the company’s stock after selling 342 shares during the period. Bayesian Capital Management LP’s holdings in Maplebear were worth $339,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of CART. International Assets Investment Management LLC acquired a new position in shares of Maplebear during the fourth quarter worth about $110,000. Thrive Capital Management LLC bought a new stake in Maplebear during the third quarter worth about $47,818,000. Mackenzie Financial Corp bought a new stake in Maplebear during the fourth quarter worth about $8,208,000. Federated Hermes Inc. raised its holdings in Maplebear by 190.2% during the fourth quarter. Federated Hermes Inc. now owns 464,355 shares of the company’s stock worth $10,898,000 after acquiring an additional 304,355 shares in the last quarter. Finally, New York State Common Retirement Fund bought a new stake in Maplebear during the fourth quarter worth about $293,000. 63.09% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Maplebear

In other Maplebear news, CAO Alan Ramsay sold 2,550 shares of the firm’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $33.21, for a total value of $84,685.50. Following the sale, the chief accounting officer now owns 113,086 shares of the company’s stock, valued at approximately $3,755,586.06. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, General Counsel Morgan Fong sold 9,506 shares of the stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $35.02, for a total value of $332,900.12. Following the completion of the transaction, the general counsel now directly owns 372,335 shares in the company, valued at approximately $13,039,171.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Alan Ramsay sold 2,550 shares of the stock in a transaction on Monday, May 20th. The shares were sold at an average price of $33.21, for a total value of $84,685.50. Following the completion of the transaction, the chief accounting officer now owns 113,086 shares of the company’s stock, valued at $3,755,586.06. The disclosure for this sale can be found here. In the last quarter, insiders have sold 53,388 shares of company stock valued at $1,795,513. 36.00% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Moffett Nathanson reiterated a “neutral” rating and set a $37.00 target price (up previously from $36.00) on shares of Maplebear in a report on Thursday, April 11th. Morgan Stanley upped their target price on Maplebear from $43.00 to $45.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 23rd. Gordon Haskett upgraded Maplebear from a “hold” rating to a “buy” rating and upped their price objective for the company from $37.00 to $45.00 in a research note on Wednesday, June 5th. Citigroup upped their price objective on Maplebear from $42.00 to $44.00 and gave the company a “buy” rating in a research note on Thursday, May 9th. Finally, BMO Capital Markets upped their price objective on Maplebear from $26.00 to $36.00 and gave the company a “market perform” rating in a research note on Thursday, May 9th. Eleven analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $41.60.

Maplebear Stock Up 0.7 %

Shares of CART stock opened at $34.49 on Thursday. The stock’s fifty day moving average price is $33.28 and its two-hundred day moving average price is $32.79. Maplebear Inc. has a fifty-two week low of $22.13 and a fifty-two week high of $42.95.

Maplebear (NASDAQ:CART) last issued its earnings results on Wednesday, May 8th. The company reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.04 by $0.39. The business had revenue of $820.00 million during the quarter, compared to analyst estimates of $794.08 million. The firm’s revenue was up 8.0% on a year-over-year basis. As a group, analysts forecast that Maplebear Inc. will post 1.02 earnings per share for the current year.

Maplebear Company Profile

Maplebear Inc, doing business as Instacart, provides online grocery shopping services to households in North America. It sells and delivers grocery products. The company offers its services through a mobile application and website. It also provides software-as-a-service solutions to retailers. The company was incorporated in 2012 and is based in San Francisco, California.