Capital Investment Counsel Inc Invests $235,000 in Maplebear Inc. (NASDAQ:CART)

Capital Investment Counsel Inc bought a new stake in Maplebear Inc. (NASDAQ:CART) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 10,000 shares of the company’s stock, valued at approximately $235,000.

Several other institutional investors also recently bought and sold shares of CART. SC US Ttgp LTD. purchased a new position in Maplebear in the 3rd quarter worth approximately $1,180,490,000. KPCB DGF II Associates LLC bought a new position in shares of Maplebear in the third quarter worth approximately $119,544,000. Canaan Partners IX LLC purchased a new position in shares of Maplebear in the fourth quarter worth $87,508,000. Technology Crossover Management XI Ltd. bought a new stake in Maplebear during the 3rd quarter valued at $80,163,000. Finally, FMR LLC purchased a new stake in Maplebear during the 3rd quarter valued at $56,424,000. 63.09% of the stock is currently owned by hedge funds and other institutional investors.

Maplebear Price Performance

Shares of CART opened at $34.48 on Tuesday. Maplebear Inc. has a 52 week low of $22.13 and a 52 week high of $42.95. The business’s 50 day moving average price is $35.33 and its 200-day moving average price is $28.62.

Maplebear (NASDAQ:CART) last announced its quarterly earnings results on Tuesday, February 13th. The company reported $0.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.52. The firm had revenue of $803.00 million during the quarter, compared to the consensus estimate of $804.62 million. The company’s revenue for the quarter was up 6.1% on a year-over-year basis. On average, analysts forecast that Maplebear Inc. will post 0.53 EPS for the current year.

Insider Activity

In other news, major shareholder Us (Ttgp) Ltd. Sc acquired 1,036,683 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The stock was bought at an average cost of $27.90 per share, for a total transaction of $28,923,455.70. Following the acquisition, the insider now directly owns 1,036,683 shares in the company, valued at $28,923,455.70. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Maplebear news, major shareholder Us (Ttgp) Ltd. Sc acquired 1,036,683 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The shares were bought at an average cost of $27.90 per share, with a total value of $28,923,455.70. Following the completion of the transaction, the insider now directly owns 1,036,683 shares of the company’s stock, valued at approximately $28,923,455.70. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Morgan Fong sold 18,687 shares of Maplebear stock in a transaction dated Monday, April 22nd. The stock was sold at an average price of $34.86, for a total value of $651,428.82. Following the completion of the sale, the general counsel now owns 418,973 shares of the company’s stock, valued at $14,605,398.78. The disclosure for this sale can be found here. Over the last 90 days, insiders have bought 2,157,745 shares of company stock worth $61,771,955 and have sold 1,027,279 shares worth $29,422,416.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on CART shares. BMO Capital Markets started coverage on shares of Maplebear in a research report on Tuesday, January 9th. They issued a “market perform” rating and a $26.00 price objective on the stock. JPMorgan Chase & Co. boosted their price target on Maplebear from $35.00 to $45.00 and gave the company an “overweight” rating in a report on Monday, March 25th. Moffett Nathanson reiterated a “neutral” rating and issued a $37.00 price objective (up previously from $36.00) on shares of Maplebear in a report on Thursday, April 11th. Morgan Stanley assumed coverage on Maplebear in a research note on Tuesday, January 30th. They set an “equal weight” rating and a $28.00 target price on the stock. Finally, Fox Advisors lowered Maplebear from an “overweight” rating to an “equal weight” rating in a research note on Monday, April 1st. Ten equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $38.79.

Maplebear Company 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.