Bank of Montreal Can lowered its position in shares of Maplebear Inc. (NASDAQ:CART - Free Report) by 11.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 100,356 shares of the company's stock after selling 13,061 shares during the period. Bank of Montreal Can's holdings in Maplebear were worth $4,004,000 at the end of the most recent quarter.
A number of other institutional investors also recently added to or reduced their stakes in CART. Huntington National Bank acquired a new stake in Maplebear in the third quarter worth about $54,000. nVerses Capital LLC boosted its stake in shares of Maplebear by 1,600.0% in the second quarter. nVerses Capital LLC now owns 1,700 shares of the company's stock worth $55,000 after acquiring an additional 1,600 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new position in Maplebear during the third quarter worth $74,000. Quarry LP boosted its stake in Maplebear by 269.5% during the second quarter. Quarry LP now owns 3,928 shares of the company's stock worth $126,000 after buying an additional 2,865 shares during the last quarter. Finally, Watts Gwilliam & Co. LLC acquired a new position in Maplebear during the third quarter worth $231,000. Institutional investors own 63.09% of the company's stock.
Analyst Upgrades and Downgrades
Several brokerages have recently commented on CART. Morgan Stanley decreased their price target on Maplebear from $45.00 to $41.00 and set an "equal weight" rating on the stock in a research note on Tuesday, September 24th. Bank of America upped their price objective on Maplebear from $50.00 to $51.00 and gave the stock a "neutral" rating in a research report on Wednesday, November 13th. Raymond James started coverage on Maplebear in a research report on Tuesday, September 24th. They set a "market perform" rating for the company. BMO Capital Markets upped their target price on Maplebear from $39.00 to $48.00 and gave the company a "market perform" rating in a research report on Wednesday, November 13th. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of Maplebear in a research report on Wednesday, November 13th. Thirteen 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.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $46.82.
Get Our Latest Stock Report on CART
Maplebear Trading Up 4.3 %
Shares of Maplebear stock traded up $1.89 during trading on Wednesday, hitting $45.59. 5,736,407 shares of the stock were exchanged, compared to its average volume of 3,991,702. Maplebear Inc. has a 1-year low of $22.13 and a 1-year high of $50.01. The stock has a market capitalization of $11.71 billion, a price-to-earnings ratio of 30.60, a price-to-earnings-growth ratio of 1.13 and a beta of 0.94. The company has a fifty day moving average price of $43.44 and a 200-day moving average price of $37.34.
Maplebear (NASDAQ:CART - Get Free Report) last announced its earnings results on Tuesday, November 12th. The company reported $0.42 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.22 by $0.20. Maplebear had a net margin of 13.37% and a return on equity of 13.78%. The firm had revenue of $852.00 million for the quarter, compared to analyst estimates of $844.03 million. During the same quarter in the prior year, the business posted ($20.86) EPS. The business's revenue was up 11.5% compared to the same quarter last year. Equities research analysts forecast that Maplebear Inc. will post 1.4 EPS for the current fiscal year.
Insider Activity
In other Maplebear news, CAO Alan Ramsay sold 2,486 shares of Maplebear stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $41.39, for a total value of $102,895.54. Following the sale, the chief accounting officer now owns 99,225 shares of the company's stock, valued at approximately $4,106,922.75. The trade was a 2.44 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Fidji Simo sold 20,750 shares of Maplebear stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $42.97, for a total transaction of $891,627.50. Following the completion of the sale, the chief executive officer now directly owns 1,804,243 shares in the company, valued at approximately $77,528,321.71. This represents a 1.14 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 110,954 shares of company stock valued at $4,890,405. Insiders own 36.00% of the company's stock.
About Maplebear
(
Free Report)
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.
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