93,206 Shares in Maplebear Inc. (NASDAQ:CART) Purchased by Raymond James Financial Inc.

Raymond James Financial Inc. acquired a new stake in shares of Maplebear Inc. (NASDAQ:CART - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 93,206 shares of the company's stock, valued at approximately $3,861,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Jones Financial Companies Lllp grew its holdings in shares of Maplebear by 46.6% during the fourth quarter. Jones Financial Companies Lllp now owns 698 shares of the company's stock worth $29,000 after buying an additional 222 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in Maplebear in the 3rd quarter worth approximately $33,000. Allworth Financial LP lifted its stake in shares of Maplebear by 101.4% during the 4th quarter. Allworth Financial LP now owns 834 shares of the company's stock worth $37,000 after purchasing an additional 420 shares during the period. Cullen Frost Bankers Inc. purchased a new position in shares of Maplebear during the 4th quarter worth $62,000. Finally, Newbridge Financial Services Group Inc. acquired a new stake in shares of Maplebear during the fourth quarter worth $151,000. Hedge funds and other institutional investors own 63.09% of the company's stock.

Maplebear Trading Down 1.9 %

Maplebear stock traded down $0.79 during trading hours on Friday, reaching $39.73. 2,388,815 shares of the company were exchanged, compared to its average volume of 4,020,932. The firm has a market cap of $10.51 billion, a price-to-earnings ratio of 26.66, a PEG ratio of 1.19 and a beta of 1.34. Maplebear Inc. has a 12 month low of $29.84 and a 12 month high of $53.44. The stock has a 50-day moving average of $44.59 and a 200 day moving average of $43.54.

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Maplebear (NASDAQ:CART - Get Free Report) last issued its earnings results on Tuesday, February 25th. The company reported $0.53 EPS for the quarter, beating analysts' consensus estimates of $0.37 by $0.16. The business had revenue of $883.00 million during the quarter, compared to analyst estimates of $889.98 million. Maplebear had a return on equity of 13.78% and a net margin of 13.37%. As a group, research analysts forecast that Maplebear Inc. will post 1.43 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have issued reports on CART shares. BMO Capital Markets raised their price target on Maplebear from $48.00 to $49.00 and gave the stock a "market perform" rating in a research note on Wednesday, February 26th. Stifel Nicolaus boosted their target price on shares of Maplebear from $56.00 to $57.00 and gave the company a "buy" rating in a report on Wednesday, February 26th. Needham & Company LLC reaffirmed a "buy" rating and set a $56.00 price target on shares of Maplebear in a research note on Wednesday, February 26th. Loop Capital decreased their price target on shares of Maplebear from $56.00 to $52.00 and set a "buy" rating on the stock in a report on Thursday, March 6th. Finally, Cantor Fitzgerald restated an "overweight" rating and set a $55.00 price objective on shares of Maplebear in a report on Wednesday, February 26th. Fourteen equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $50.25.

Insiders Place Their Bets

In related news, CAO Alan Ramsay sold 2,314 shares of the business's stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $46.28, for a total value of $107,091.92. Following the sale, the chief accounting officer now directly owns 85,421 shares of the company's stock, valued at approximately $3,953,283.88. The trade was a 2.64 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Fidji Simo sold 20,750 shares of the firm's stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $43.31, for a total transaction of $898,682.50. Following the transaction, the chief executive officer now directly owns 1,662,692 shares of the company's stock, valued at $72,011,190.52. This represents a 1.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 25,097 shares of company stock valued at $1,087,094. 36.00% of the stock is currently owned by corporate insiders.

Maplebear Company 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.