Maplebear Inc. (NASDAQ:CART) Shares Acquired by Verition Fund Management LLC

Verition Fund Management LLC grew its stake in shares of Maplebear Inc. (NASDAQ:CART) by 54.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 630,809 shares of the company’s stock after acquiring an additional 221,091 shares during the quarter. Verition Fund Management LLC’s holdings in Maplebear were worth $25,699,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of CART. Huntington National Bank acquired a new position in shares of Maplebear in the third quarter valued at about $54,000. nVerses Capital LLC raised its position in Maplebear by 1,600.0% during the 2nd quarter. nVerses Capital LLC now owns 1,700 shares of the company’s stock worth $55,000 after buying an additional 1,600 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new position in Maplebear during the 3rd quarter worth approximately $74,000. Quarry LP lifted its stake in Maplebear by 269.5% during the 2nd quarter. Quarry LP now owns 3,928 shares of the company’s stock valued at $126,000 after acquiring an additional 2,865 shares during the period. Finally, Vinva Investment Management Ltd purchased a new stake in shares of Maplebear in the 3rd quarter valued at $212,000. 63.09% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Jefferies Financial Group initiated coverage on shares of Maplebear in a research report on Wednesday, October 16th. They set a “hold” rating and a $43.00 target price for the company. Benchmark reissued a “hold” rating on shares of Maplebear in a report on Wednesday, August 7th. Robert W. Baird raised their target price on Maplebear from $44.00 to $51.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Raymond James started coverage on Maplebear in a report on Tuesday, September 24th. They issued a “market perform” rating for the company. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $45.00 price objective on shares of Maplebear in a research note on Monday, October 7th. Twelve equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $47.29.

Maplebear Price Performance

CART opened at $43.44 on Friday. The business has a fifty day moving average price of $43.17 and a 200 day moving average price of $37.03. Maplebear Inc. has a 12 month low of $22.13 and a 12 month high of $50.01. The stock has a market capitalization of $11.16 billion, a price-to-earnings ratio of 29.15, a PEG ratio of 1.12 and a beta of 1.12.

Maplebear (NASDAQ:CART) last issued its earnings results on Tuesday, November 12th. The company reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $0.20. The firm had revenue of $852.00 million during the quarter, compared to the consensus estimate of $844.03 million. Maplebear had a net margin of 13.37% and a return on equity of 13.78%. The company’s revenue was up 11.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($20.86) earnings per share. On average, research analysts anticipate that Maplebear Inc. will post 1.4 earnings per share for the current year.

Insider Transactions at Maplebear

In other Maplebear news, General Counsel Morgan Fong sold 8,345 shares of the firm’s stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $40.00, for a total transaction of $333,800.00. Following the sale, the general counsel now owns 330,886 shares of the company’s stock, valued at approximately $13,235,440. This trade represents a 2.46 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Alan Ramsay sold 2,247 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $41.06, for a total transaction of $92,261.82. Following the sale, the chief accounting officer now owns 89,982 shares of the company’s stock, valued at $3,694,660.92. This represents a 2.44 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 110,954 shares of company stock valued at $4,890,405. Corporate insiders own 36.00% of the company’s stock.

Maplebear Profile

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.