Aigen Investment Management LP Buys Shares of 21,296 Maplebear Inc. (NASDAQ:CART)

Aigen Investment Management LP bought a new stake in shares of Maplebear Inc. (NASDAQ:CART) in the 4th quarter, according to its most recent 13F filing with the SEC. The firm bought 21,296 shares of the company’s stock, valued at approximately $882,000.

Several other hedge funds have also recently added to or reduced their stakes in CART. New York State Teachers Retirement System increased its holdings in Maplebear by 704.1% during the 3rd quarter. New York State Teachers Retirement System now owns 15,824 shares of the company’s stock valued at $645,000 after acquiring an additional 13,856 shares in the last quarter. US Bancorp DE grew its holdings in shares of Maplebear by 429.2% during the third quarter. US Bancorp DE now owns 10,690 shares of the company’s stock worth $436,000 after buying an additional 8,670 shares in the last quarter. Farther Finance Advisors LLC grew its holdings in shares of Maplebear by 26.7% during the third quarter. Farther Finance Advisors LLC now owns 13,757 shares of the company’s stock worth $560,000 after buying an additional 2,901 shares in the last quarter. Kornitzer Capital Management Inc. KS purchased a new stake in shares of Maplebear during the third quarter worth about $8,352,000. Finally, Eos Management L.P. grew its holdings in shares of Maplebear by 98.1% during the third quarter. Eos Management L.P. now owns 31,508 shares of the company’s stock worth $1,284,000 after buying an additional 15,600 shares in the last quarter. 63.09% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO Fidji Simo sold 20,750 shares of the business’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $42.74, for a total value of $886,855.00. Following the completion of the sale, the chief executive officer now owns 1,771,993 shares of the company’s stock, valued at approximately $75,734,980.82. The trade was a 1.16 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Alan Ramsay sold 2,247 shares of the stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $42.14, for a total transaction of $94,688.58. Following the transaction, the chief accounting officer now directly owns 87,735 shares in the company, valued at $3,697,152.90. The trade was a 2.50 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 46,061 shares of company stock worth $1,987,318 in the last three months. 36.00% of the stock is owned by insiders.

Maplebear Price Performance

Maplebear stock opened at $38.59 on Thursday. The firm’s fifty day moving average price is $46.15 and its 200 day moving average price is $42.94. The company has a market capitalization of $9.91 billion, a price-to-earnings ratio of 25.90, a price-to-earnings-growth 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.

Maplebear (NASDAQ:CART) last announced its 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 business had revenue of $883.00 million for the quarter, compared to analyst estimates of $889.98 million. Maplebear had a return on equity of 13.78% and a net margin of 13.37%. Analysts forecast that Maplebear Inc. will post 1.43 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Maplebear in a report on Tuesday, December 3rd. They set a “hold” rating and a $37.00 price target for the company. Mizuho lowered their price target on shares of Maplebear from $55.00 to $52.00 and set an “outperform” rating for the company in a report on Wednesday, February 26th. Oppenheimer lowered their price target on shares of Maplebear from $65.00 to $60.00 and set an “outperform” rating for the company in a report on Wednesday, February 26th. Wedbush lowered their target price on shares of Maplebear from $48.00 to $46.00 and set a “neutral” rating for the company in a report on Wednesday, February 26th. Finally, Seaport Res Ptn upgraded shares of Maplebear to a “strong-buy” rating in a report on Wednesday, February 12th. Thirteen research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Maplebear currently has a consensus rating of “Moderate Buy” and a consensus target price of $50.38.

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.