Pier Capital LLC Buys 44,095 Shares of Maplebear Inc. (NASDAQ:CART)

Pier Capital LLC grew its stake in shares of Maplebear Inc. (NASDAQ:CART) by 29.1% in the 4th quarter, HoldingsChannel.com reports. The fund owned 195,699 shares of the company’s stock after acquiring an additional 44,095 shares during the period. Pier Capital LLC’s holdings in Maplebear were worth $8,106,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in Maplebear by 16.8% in the fourth quarter. Vanguard Group Inc. now owns 15,968,358 shares of the company’s stock worth $661,409,000 after acquiring an additional 2,300,288 shares during the period. Victory Capital Management Inc. raised its holdings in shares of Maplebear by 11,501.2% in the 4th quarter. Victory Capital Management Inc. now owns 4,526,673 shares of the company’s stock valued at $187,495,000 after purchasing an additional 4,487,654 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Maplebear by 151.7% in the 3rd quarter. Geode Capital Management LLC now owns 2,732,738 shares of the company’s stock worth $111,361,000 after purchasing an additional 1,647,081 shares during the period. Boston Partners bought a new position in shares of Maplebear during the fourth quarter valued at approximately $111,506,000. Finally, Maverick Capital Ltd. increased its holdings in Maplebear by 19.7% during the third quarter. Maverick Capital Ltd. now owns 2,684,425 shares of the company’s stock valued at $109,363,000 after buying an additional 441,156 shares during the period. Institutional investors own 63.09% of the company’s stock.

Maplebear Trading Up 5.2 %

Maplebear stock opened at $40.91 on Tuesday. The firm has a market cap of $10.83 billion, a PE ratio of 27.46, a P/E/G ratio of 1.19 and a beta of 1.34. Maplebear Inc. has a 12 month low of $29.84 and a 12 month high of $53.44. The stock’s 50 day simple moving average is $45.03 and its two-hundred day simple moving average is $43.38.

Maplebear (NASDAQ:CART) last announced its quarterly earnings results 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. The firm had revenue of $883.00 million for the quarter, compared to the consensus estimate of $889.98 million. Maplebear had a net margin of 13.37% and a return on equity of 13.78%. On average, equities research analysts forecast that Maplebear Inc. will post 1.43 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on CART shares. Barclays boosted their price target on Maplebear from $56.00 to $58.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 26th. BTIG Research upgraded shares of Maplebear from a “neutral” rating to a “buy” rating and set a $58.00 target price for the company in a report on Tuesday, January 14th. Bank of America raised their price target on shares of Maplebear from $51.00 to $53.00 and gave the company a “neutral” rating in a report on Tuesday, February 25th. Seaport Res Ptn upgraded shares of Maplebear to a “strong-buy” rating in a research note on Wednesday, February 12th. Finally, Wedbush reduced their price target on Maplebear from $48.00 to $46.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 26th. Thirteen analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $50.52.

Insider Activity at Maplebear

In related news, CAO Alan Ramsay sold 2,314 shares of Maplebear stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $46.28, for a total value of $107,091.92. Following the sale, the chief accounting officer now owns 85,421 shares of the company’s stock, valued at approximately $3,953,283.88. This trade represents a 2.64 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Fidji Simo sold 2,033 shares of the business’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 directly owns 1,654,559 shares of the company’s stock, valued at $66,182,360. This represents a 0.12 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 25,097 shares of company stock worth $1,087,094 in the last 90 days. Corporate insiders own 36.00% of the company’s stock.

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.