13,933 Shares of Maplebear Inc. $CART Bought by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. bought a new position in Maplebear Inc. (NASDAQ:CART) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 13,933 shares of the company’s stock, valued at approximately $601,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of CART. BlackRock Inc. bought a new position in shares of Maplebear during the second quarter valued at approximately $750,477,000. Dimensional Fund Advisors LP lifted its holdings in shares of Maplebear by 31.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 4,981,960 shares of the company’s stock worth $186,618,000 after purchasing an additional 1,189,287 shares during the last quarter. William Blair Investment Management LLC bought a new stake in shares of Maplebear in the 2nd quarter worth approximately $86,462,000. Renaissance Technologies LLC lifted its holdings in shares of Maplebear by 10.0% in the 1st quarter. Renaissance Technologies LLC now owns 1,567,054 shares of the company’s stock worth $58,702,000 after purchasing an additional 142,600 shares during the last quarter. Finally, Bank of America Corp DE lifted its holdings in shares of Maplebear by 16.5% in the 1st quarter. Bank of America Corp DE now owns 1,562,097 shares of the company’s stock worth $58,516,000 after purchasing an additional 221,036 shares during the last quarter. 63.09% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Wall Street Zen downgraded Maplebear from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Jefferies Financial Group lowered Maplebear from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 30th. Oppenheimer raised their target price on Maplebear from $60.00 to $65.00 and gave the company an “outperform” rating in a research note on Friday, August 7th. BNP Paribas Exane raised shares of Maplebear from an “underperform” rating to a “neutral” rating and set a $56.00 price target for the company in a report on Friday, August 7th. Finally, Benchmark boosted their price target on shares of Maplebear from $55.00 to $63.00 and gave the company a “buy” rating in a report on Friday, August 7th. Seven equities research analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $59.06.

Insider Activity

In other Maplebear news, insider Morgan Fong sold 18,390 shares of the business’s stock in a transaction on Thursday, October 22nd. The stock was sold at an average price of $51.00, for a total transaction of $937,890.00. Following the completion of the transaction, the insider owned 529,911 shares in the company, valued at approximately $27,025,461. The trade was a 3.35% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Lisa Blackwood-Kapral sold 3,016 shares of the business’s stock in a transaction on Thursday, October 15th. The stock was sold at an average price of $49.58, for a total value of $149,533.28. Following the transaction, the chief accounting officer owned 34,699 shares of the company’s stock, valued at $1,720,376.42. This trade represents a 8.00% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 309,928 shares of company stock worth $16,121,073 over the last ninety days. 24.00% of the stock is currently owned by company insiders.

Maplebear Stock Performance

Shares of NASDAQ:CART opened at $58.12 on Monday. The firm’s 50 day moving average is $49.78 and its two-hundred day moving average is $43.76. Maplebear Inc. has a 52 week low of $32.73 and a 52 week high of $62.00. The firm has a market capitalization of $13.75 billion, a P/E ratio of 30.27, a PEG ratio of 1.16 and a beta of 0.68.

Maplebear (NASDAQ:CART) last issued its quarterly earnings data on Thursday, October 29th. The company reported $0.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.63 by ($0.03). Maplebear had a return on equity of 22.14% and a net margin of 11.59%. The business had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.07 billion. During the same quarter in the prior year, the firm posted $0.42 earnings per share. The business’s quarterly revenue was up 16.6% on a year-over-year basis. Analysts predict that Maplebear Inc. will post 2.28 EPS for the current year.

Maplebear Profile

Maplebear Inc, which operates as Instacart, provides an online grocery and retail marketplace in the United States and Canada. Its platform connects customers with local grocery stores and other retailers, enabling them to order products for delivery or pickup.

In addition to its consumer app and website, Instacart offers retailers technology and services for online ordering, fulfillment and digital advertising. The company was founded in 2012 and is led by CEO Fidji Simo.