Franklin Resources Inc. Has $11.69 Million Holdings in Maplebear Inc. (NASDAQ:CART)

Franklin Resources Inc. lifted its position in Maplebear Inc. (NASDAQ:CART) by 182.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 272,928 shares of the company’s stock after purchasing an additional 176,137 shares during the quarter. Franklin Resources Inc.’s holdings in Maplebear were worth $11,692,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CART. Wilmington Savings Fund Society FSB acquired a new position in shares of Maplebear in the 3rd quarter valued at $33,000. Huntington National Bank acquired a new stake in shares of Maplebear during the 3rd quarter valued at about $54,000. nVerses Capital LLC increased its stake in Maplebear by 1,600.0% in the second quarter. nVerses Capital LLC now owns 1,700 shares of the company’s stock valued at $55,000 after acquiring an additional 1,600 shares during the period. Mirae Asset Global Investments Co. Ltd. acquired a new position in Maplebear in the third quarter worth about $74,000. Finally, Quarry LP lifted its stake in Maplebear by 269.5% during the second quarter. Quarry LP now owns 3,928 shares of the company’s stock worth $126,000 after purchasing an additional 2,865 shares during the period. 63.09% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Cantor Fitzgerald reiterated an “overweight” rating and issued a $45.00 price objective on shares of Maplebear in a research note on Monday, October 7th. Loop Capital increased their price objective on Maplebear from $49.00 to $56.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Jefferies Financial Group began coverage on shares of Maplebear in a research note on Wednesday, October 16th. They issued a “hold” rating and a $43.00 target price on the stock. Raymond James initiated coverage on shares of Maplebear in a research report on Tuesday, September 24th. They set a “market perform” rating for the company. Finally, JMP Securities lifted their price target on shares of Maplebear from $42.00 to $51.00 and gave the company a “market outperform” rating in a report on Wednesday, November 13th. Thirteen equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $47.14.

Maplebear Stock Performance

Shares of CART stock opened at $42.02 on Friday. The firm’s 50 day moving average price is $43.70 and its two-hundred day moving average price is $38.24. Maplebear Inc. has a 52-week low of $22.13 and a 52-week high of $50.01. The stock has a market cap of $10.79 billion, a PE ratio of 28.20, a PEG ratio of 1.08 and a beta of 0.94.

Maplebear (NASDAQ:CART) last announced its quarterly earnings data on Tuesday, November 12th. The company reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $0.20. The business had revenue of $852.00 million during the quarter, compared to analysts’ expectations of $844.03 million. Maplebear had a return on equity of 13.78% and a net margin of 13.37%. The firm’s quarterly revenue was up 11.5% compared to the same quarter last year. During the same period in the previous year, the firm earned ($20.86) earnings per share. As a group, sell-side analysts predict that Maplebear Inc. will post 1.4 earnings per share for the current fiscal year.

Insider Transactions at Maplebear

In other news, General Counsel Morgan Fong sold 29,253 shares of the business’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $48.03, for a total value of $1,405,021.59. Following the completion of the transaction, the general counsel now owns 258,406 shares of the company’s stock, valued at $12,411,240.18. The trade was a 10.17 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Alan Ramsay sold 2,559 shares of the company’s stock in a transaction on Monday, October 21st. The shares were sold at an average price of $42.97, for a total transaction of $109,960.23. Following the completion of the sale, the chief accounting officer now owns 96,666 shares of the company’s stock, valued at approximately $4,153,738.02. This represents a 2.58 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 112,128 shares of company stock worth $4,980,404. 36.00% of the stock is currently owned by company insiders.

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.