Kornitzer Capital Management Inc. KS Raises Holdings in Maplebear Inc. (NASDAQ:CART)

Kornitzer Capital Management Inc. KS lifted its holdings in shares of Maplebear Inc. (NASDAQ:CART) by 19.5% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 245,000 shares of the company’s stock after purchasing an additional 40,000 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in Maplebear were worth $10,148,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. CIBC Asset Management Inc increased its stake in Maplebear by 3.7% in the 3rd quarter. CIBC Asset Management Inc now owns 8,114 shares of the company’s stock valued at $331,000 after purchasing an additional 286 shares in the last quarter. Allworth Financial LP increased its stake in Maplebear by 101.4% in the 4th quarter. Allworth Financial LP now owns 834 shares of the company’s stock valued at $37,000 after purchasing an additional 420 shares in the last quarter. Coldstream Capital Management Inc. increased its stake in Maplebear by 1.6% in the 3rd quarter. Coldstream Capital Management Inc. now owns 31,745 shares of the company’s stock valued at $1,294,000 after purchasing an additional 490 shares in the last quarter. Oppenheimer & Co. Inc. increased its stake in Maplebear by 5.1% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 12,090 shares of the company’s stock valued at $493,000 after purchasing an additional 584 shares in the last quarter. Finally, Pier Capital LLC increased its stake in Maplebear by 0.4% in the 3rd quarter. Pier Capital LLC now owns 151,604 shares of the company’s stock valued at $6,176,000 after purchasing an additional 616 shares in the last quarter. 63.09% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Maplebear

In other Maplebear news, CEO Fidji Simo sold 20,750 shares of the firm’s stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $42.74, for a total value of $886,855.00. Following the transaction, the chief executive officer now directly owns 1,771,993 shares of the company’s stock, valued at $75,734,980.82. This trade represents a 1.16 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Alan Ramsay sold 2,247 shares of the firm’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $42.14, for a total value of $94,688.58. Following the completion of the transaction, the chief accounting officer now directly owns 87,735 shares in the company, valued at $3,697,152.90. This trade represents a 2.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 46,061 shares of company stock valued at $1,980,263 over the last three months. 36.00% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. BMO Capital Markets increased their target price on Maplebear from $39.00 to $48.00 and gave the company a “market perform” rating in a report on Wednesday, November 13th. Bank of America increased their target price on Maplebear from $50.00 to $51.00 and gave the company a “neutral” rating in a report on Wednesday, November 13th. Oppenheimer increased their target price on Maplebear from $55.00 to $60.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Barclays increased their target price on Maplebear from $48.00 to $56.00 and gave the company an “overweight” rating in a report on Wednesday, November 13th. Finally, BTIG Research upgraded Maplebear from a “neutral” rating to a “buy” rating and set a $58.00 target price on the stock in a report on Tuesday, January 14th. Thirteen analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $48.96.

Maplebear Price Performance

NASDAQ:CART opened at $50.35 on Wednesday. The business’s 50-day moving average is $45.55 and its two-hundred day moving average is $41.99. Maplebear Inc. has a 12 month low of $26.82 and a 12 month high of $51.50. The firm has a market capitalization of $12.93 billion, a PE ratio of 33.79, a price-to-earnings-growth ratio of 1.09 and a beta of 1.07.

About Maplebear

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.