Jacobs Levy Equity Management Inc. Purchases Shares of 311,350 Maplebear Inc. (NASDAQ:CART)

Jacobs Levy Equity Management Inc. acquired a new position in shares of Maplebear Inc. (NASDAQ:CART) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 311,350 shares of the company’s stock, valued at approximately $11,610,000.

A number of other large investors have also made changes to their positions in the stock. Norges Bank acquired a new stake in Maplebear during the fourth quarter worth about $78,674,000. GSA Capital Partners LLP bought a new stake in shares of Maplebear during the first quarter valued at approximately $1,673,000. Nomura Holdings Inc. bought a new stake in shares of Maplebear during the fourth quarter valued at approximately $587,000. Capstone Investment Advisors LLC raised its stake in shares of Maplebear by 37.7% in the first quarter. Capstone Investment Advisors LLC now owns 172,134 shares of the company’s stock valued at $6,419,000 after purchasing an additional 47,134 shares in the last quarter. Finally, Hodges Capital Management Inc. bought a new position in Maplebear in the first quarter worth $6,211,000. Institutional investors and hedge funds own 63.09% of the company’s stock.

Maplebear Stock Performance

Shares of NASDAQ CART remained flat at $34.24 during midday trading on Wednesday. The stock had a trading volume of 639,728 shares, compared to its average volume of 4,094,976. Maplebear Inc. has a one year low of $22.13 and a one year high of $42.95. The stock has a fifty day simple moving average of $33.25 and a 200-day simple moving average of $32.78.

Maplebear (NASDAQ:CART) last announced its earnings results on Wednesday, May 8th. The company reported $0.43 EPS for the quarter, topping the consensus estimate of $0.04 by $0.39. The business had revenue of $820.00 million for the quarter, compared to analyst estimates of $794.08 million. The business’s revenue for the quarter was up 8.0% compared to the same quarter last year. Equities research analysts forecast that Maplebear Inc. will post 1.02 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on CART. Morgan Stanley boosted their price target on shares of Maplebear from $43.00 to $45.00 and gave the company an “equal weight” rating in a report on Tuesday, July 23rd. Gordon Haskett raised shares of Maplebear from a “hold” rating to a “buy” rating and increased their price target for the stock from $37.00 to $45.00 in a research report on Wednesday, June 5th. JMP Securities lifted their price objective on Maplebear from $35.00 to $42.00 and gave the company a “market outperform” rating in a report on Thursday, May 9th. Barclays increased their target price on Maplebear from $41.00 to $43.00 and gave the stock an “overweight” rating in a report on Thursday, May 9th. Finally, BMO Capital Markets boosted their price target on Maplebear from $26.00 to $36.00 and gave the company a “market perform” rating in a research note on Thursday, May 9th. Eleven investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $41.60.

Insider Transactions at Maplebear

In other news, insider Fidji Simo 8,500 shares of Maplebear stock in a transaction on Monday, July 29th. The was disclosed in a filing with the SEC, which is available through the SEC website. In other Maplebear news, insider Fidji Simo 8,500 shares of the firm’s stock in a transaction dated Monday, July 29th. The was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Alan Ramsay sold 2,626 shares of the stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $35.02, for a total value of $91,962.52. Following the completion of the sale, the chief accounting officer now directly owns 107,910 shares of the company’s stock, valued at approximately $3,779,008.20. The disclosure for this sale can be found here. Insiders sold a total of 53,388 shares of company stock worth $1,795,513 in the last three months. Insiders own 36.00% of the company’s stock.

Maplebear Profile

Maplebear Inc, doing business as Instacart, provides online grocery shopping services to households in North America. It sells and delivers grocery products. The company offers its services through a mobile application and website. It also provides software-as-a-service solutions to retailers. The company was incorporated in 2012 and is based in San Francisco, California.