Ieq Capital LLC Has $9.36 Million Stake in Maplebear Inc. (NASDAQ:CART)

Ieq Capital LLC boosted its holdings in Maplebear Inc. (NASDAQ:CART) by 1.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 225,957 shares of the company’s stock after purchasing an additional 4,140 shares during the quarter. Ieq Capital LLC owned about 0.09% of Maplebear worth $9,359,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Wilmington Savings Fund Society FSB acquired a new stake in Maplebear in the 3rd quarter valued at $33,000. Allworth Financial LP grew its position 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 during the period. Huntington National Bank purchased a new position in Maplebear during the 3rd quarter worth $54,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in Maplebear during the 3rd quarter worth $74,000. Finally, Newbridge Financial Services Group Inc. purchased a new position in Maplebear during the 4th quarter worth $151,000. Institutional investors and hedge funds own 63.09% of the company’s stock.

Insider Activity

In other news, CAO Alan Ramsay sold 2,247 shares of the company’s 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 sale, the chief accounting officer now directly owns 87,735 shares in the company, valued at $3,697,152.90. This represents a 2.50 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Fidji Simo sold 20,750 shares of the company’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 sale, the chief executive officer now owns 1,771,993 shares in the company, valued at approximately $75,734,980.82. This represents a 1.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 46,061 shares of company stock worth $1,980,263 over the last ninety days. Company insiders own 36.00% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Piper Sandler lifted their price objective on shares of Maplebear from $50.00 to $58.00 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. Mizuho assumed coverage on shares of Maplebear in a report on Tuesday, January 14th. They set an “outperform” rating and a $55.00 price objective on the stock. Stifel Nicolaus lifted their price objective on shares of Maplebear from $52.00 to $55.00 and gave the stock a “buy” rating in a report on Monday, October 28th. Oppenheimer lifted their price objective on shares of Maplebear from $55.00 to $60.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Finally, Barclays lifted their price objective on shares of Maplebear from $48.00 to $56.00 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. Thirteen investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $48.96.

Maplebear Stock Performance

Shares of Maplebear stock opened at $52.55 on Friday. The stock’s 50-day simple moving average is $45.99 and its 200 day simple moving average is $42.14. Maplebear Inc. has a 52-week low of $27.56 and a 52-week high of $53.44. The stock has a market capitalization of $13.50 billion, a P/E ratio of 35.27, a P/E/G ratio of 1.14 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.