Exchange Traded Concepts LLC Has $2.27 Million Stake in Maplebear Inc. (NASDAQ:CART)

Exchange Traded Concepts LLC raised its holdings in Maplebear Inc. (NASDAQ:CART) by 0.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 56,823 shares of the company’s stock after acquiring an additional 515 shares during the period. Exchange Traded Concepts LLC’s holdings in Maplebear were worth $2,267,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew 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 valued at $661,409,000 after acquiring an additional 2,300,288 shares during the period. T. Rowe Price Investment Management Inc. grew its holdings in shares of Maplebear by 15.5% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 4,744,652 shares of the company’s stock worth $196,524,000 after buying an additional 635,930 shares in the last quarter. Victory Capital Management Inc. grew its holdings in shares of Maplebear by 11,501.2% during the fourth quarter. Victory Capital Management Inc. now owns 4,526,673 shares of the company’s stock worth $187,495,000 after buying an additional 4,487,654 shares in the last quarter. Jacobs Levy Equity Management Inc. grew its holdings in shares of Maplebear by 85.0% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 3,081,847 shares of the company’s stock worth $127,650,000 after buying an additional 1,416,426 shares in the last quarter. Finally, Boston Partners bought a new position in shares of Maplebear during the fourth quarter worth about $111,506,000. 63.09% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Maplebear news, General Counsel Morgan Fong sold 5,249 shares of the firm’s stock in a transaction on Monday, April 21st. The stock was sold at an average price of $42.57, for a total transaction of $223,449.93. Following the transaction, the general counsel now owns 484,292 shares in the company, valued at $20,616,310.44. This trade represents a 1.07% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Levien Meredith A. Kopit sold 4,225 shares of the firm’s stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $47.45, for a total value of $200,476.25. Following the transaction, the director now owns 20,829 shares in the company, valued at approximately $988,336.05. This trade represents a 16.86% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 17,607 shares of company stock worth $762,259 in the last 90 days. Company insiders own 26.00% of the company’s stock.

Maplebear Trading Down 0.7%

NASDAQ:CART opened at $43.55 on Wednesday. The stock has a 50 day simple moving average of $43.98 and a 200 day simple moving average of $43.74. Maplebear Inc. has a 1-year low of $29.84 and a 1-year high of $53.44. The stock has a market cap of $11.43 billion, a P/E ratio of 28.65, a PEG ratio of 1.85 and a beta of 1.30.

Maplebear (NASDAQ:CART) last posted its quarterly earnings data on Thursday, May 1st. The company reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.01). Maplebear had a return on equity of 14.12% and a net margin of 12.45%. The company had revenue of $897.00 million for the quarter, compared to the consensus estimate of $896.86 million. During the same quarter last year, the business earned $0.43 EPS. Maplebear’s revenue was up 9.4% on a year-over-year basis. As a group, sell-side analysts forecast that Maplebear Inc. will post 1.43 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Barclays increased their price objective on Maplebear from $58.00 to $61.00 and gave the stock an “overweight” rating in a report on Friday, May 2nd. Wedbush decreased their price objective on Maplebear from $48.00 to $46.00 and set a “neutral” rating for the company in a report on Wednesday, February 26th. FBN Securities assumed coverage on Maplebear in a report on Friday, March 28th. They set a “sector perform” rating and a $44.00 price objective for the company. Jefferies Financial Group increased their price objective on Maplebear from $48.00 to $50.00 and gave the stock a “hold” rating in a report on Tuesday, May 27th. Finally, Mizuho reduced their price target on Maplebear from $55.00 to $52.00 and set an “outperform” rating for the company in a research report on Wednesday, February 26th. Thirteen equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $51.91.

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.