Arkfeld Wealth Strategies L.L.C. Buys 7,680 Shares of Maplebear Inc. (NASDAQ:CART)

Arkfeld Wealth Strategies L.L.C. lifted its stake in Maplebear Inc. (NASDAQ:CART - Free Report) by 70.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 18,628 shares of the company's stock after purchasing an additional 7,680 shares during the period. Arkfeld Wealth Strategies L.L.C.'s holdings in Maplebear were worth $829,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the stock. CIBC Asset Management Inc raised its holdings in Maplebear by 3.7% in the third quarter. CIBC Asset Management Inc now owns 8,114 shares of the company's stock worth $331,000 after purchasing an additional 286 shares in the last quarter. Coldstream Capital Management Inc. increased its stake in shares of Maplebear by 1.6% in the 3rd quarter. Coldstream Capital Management Inc. now owns 31,745 shares of the company's stock worth $1,294,000 after acquiring an additional 490 shares in the last quarter. Oppenheimer & Co. Inc. increased its stake in shares of Maplebear by 5.1% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 12,090 shares of the company's stock worth $493,000 after acquiring an additional 584 shares in the last quarter. Pier Capital LLC lifted its position in Maplebear by 0.4% during the 3rd quarter. Pier Capital LLC now owns 151,604 shares of the company's stock valued at $6,176,000 after acquiring an additional 616 shares during the period. Finally, Wilmington Savings Fund Society FSB bought a new stake in Maplebear during the third quarter worth about $33,000. Institutional investors own 63.09% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on CART. BTIG Research raised shares of Maplebear from a "neutral" rating to a "buy" rating and set a $58.00 target price for the company in a research note on Tuesday, January 14th. Stifel Nicolaus raised their price objective on Maplebear from $52.00 to $55.00 and gave the company a "buy" rating in a research report on Monday, October 28th. Deutsche Bank Aktiengesellschaft began coverage on Maplebear in a report on Tuesday, December 3rd. They issued a "hold" rating and a $37.00 target price on the stock. Wells Fargo & Company began coverage on Maplebear in a report on Friday, January 10th. They set an "equal weight" rating and a $47.00 price target for the company. Finally, BMO Capital Markets lifted their price target on Maplebear from $39.00 to $48.00 and gave the stock a "market perform" rating in a research report on Wednesday, November 13th. Thirteen investment 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 company. According to data from MarketBeat, Maplebear has an average rating of "Moderate Buy" and an average target price of $48.96.

Maplebear Price Performance

Shares of NASDAQ:CART traded up $0.54 during midday trading on Friday, hitting $45.99. The company had a trading volume of 2,419,505 shares, compared to its average volume of 4,108,225. Maplebear Inc. has a 12-month low of $23.59 and a 12-month high of $50.01. The company has a fifty day moving average of $43.58 and a two-hundred day moving average of $40.21. The company has a market cap of $11.81 billion, a price-to-earnings ratio of 30.87, a PEG ratio of 1.01 and a beta of 1.04.

Maplebear (NASDAQ:CART - Get Free Report) last issued its quarterly earnings results on Tuesday, November 12th. The company reported $0.42 EPS for the quarter, topping analysts' consensus estimates of $0.22 by $0.20. Maplebear had a return on equity of 13.78% and a net margin of 13.37%. The business had revenue of $852.00 million during the quarter, compared to analysts' expectations of $844.03 million. During the same quarter in the prior year, the business posted ($20.86) earnings per share. The business's quarterly revenue was up 11.5% on a year-over-year basis. Research analysts expect that Maplebear Inc. will post 1.42 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CAO Alan Ramsay sold 2,314 shares of the business's stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $46.28, for a total value of $107,091.92. Following the transaction, the chief accounting officer now directly owns 85,421 shares in the company, valued at $3,953,283.88. The trade was a 2.64 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Morgan Fong sold 29,253 shares of the company's stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $48.03, for a total value of $1,405,021.59. Following the completion of the transaction, the general counsel now directly owns 258,406 shares of the company's stock, valued at approximately $12,411,240.18. This trade represents a 10.17 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 100,558 shares of company stock worth $4,490,901. Company insiders own 36.00% of the company's stock.

Maplebear 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.