Free Trial

Cherry Creek Investment Advisors Inc. Takes Position in Maplebear Inc. (NASDAQ:CART)

Maplebear logo with Retail/Wholesale background

Cherry Creek Investment Advisors Inc. acquired a new position in Maplebear Inc. (NASDAQ:CART - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 5,662 shares of the company's stock, valued at approximately $235,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. CIBC Asset Management Inc lifted its stake in shares of Maplebear by 3.7% in the 3rd quarter. CIBC Asset Management Inc now owns 8,114 shares of the company's stock worth $331,000 after acquiring an additional 286 shares during the period. Coldstream Capital Management Inc. lifted its position in Maplebear by 1.6% in the third quarter. Coldstream Capital Management Inc. now owns 31,745 shares of the company's stock worth $1,294,000 after purchasing an additional 490 shares during the period. Oppenheimer & Co. Inc. boosted its stake in Maplebear by 5.1% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 12,090 shares of the company's stock valued at $493,000 after purchasing an additional 584 shares in the last quarter. Pier Capital LLC increased its position in shares of 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 purchasing an additional 616 shares during the period. Finally, Wilmington Savings Fund Society FSB bought a new stake in shares of Maplebear in the 3rd quarter worth $33,000. Institutional investors own 63.09% of the company's stock.

Insiders Place Their Bets

In related 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 transaction of $107,091.92. Following the completion of the transaction, the chief accounting officer now 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 document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Morgan Fong sold 29,253 shares of the firm's stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $48.03, for a total value of $1,405,021.59. Following the completion of the sale, the general counsel now directly owns 258,406 shares in the company, valued at $12,411,240.18. This trade represents a 10.17 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 79,808 shares of company stock valued at $3,569,808 over the last 90 days. 36.00% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research firms recently issued reports on CART. Barclays lifted their target price on Maplebear from $48.00 to $56.00 and gave the stock an "overweight" rating in a report on Wednesday, November 13th. 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 research note on Monday, October 28th. Wells Fargo & Company initiated coverage on shares of Maplebear in a research note on Friday, January 10th. They set an "equal weight" rating and a $47.00 target price for the company. Cantor Fitzgerald restated an "overweight" rating and issued a $45.00 price target on shares of Maplebear in a research report on Monday, October 7th. Finally, Macquarie increased their price objective on Maplebear from $50.00 to $52.00 and gave the company an "outperform" rating in a research report on Thursday, November 14th. Thirteen investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $48.96.

Read Our Latest Analysis on Maplebear

Maplebear Stock Down 1.3 %

CART stock traded down $0.62 during trading hours on Friday, hitting $48.28. The company's stock had a trading volume of 3,314,241 shares, compared to its average volume of 4,713,750. The stock has a 50 day moving average price of $44.00 and a two-hundred day moving average price of $40.53. Maplebear Inc. has a 12 month low of $23.59 and a 12 month high of $50.01. The company has a market capitalization of $12.40 billion, a PE ratio of 32.40, a price-to-earnings-growth ratio of 1.09 and a beta of 1.04.

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

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.

Featured Articles

Institutional Ownership by Quarter for Maplebear (NASDAQ:CART)

Should You Invest $1,000 in Maplebear Right Now?

Before you consider Maplebear, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Maplebear wasn't on the list.

While Maplebear currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

Metaverse Stocks And Why You Can't Ignore Them Cover

Thinking about investing in Meta, Roblox, or Unity? Enter your email to learn what streetwise investors need to know about the metaverse and public markets before making an investment.

Get This Free Report
Like this article? Share it with a colleague.

Featured Articles and Offers

Recent Videos

NVIDIA Earnings: Will it Spark a Rally or Trigger a Sell-Off?
Marjorie Taylor Greene Bought THOUSANDS in Tesla Stock
The EXACT Date of Next Stock Market Crash

Stock Lists

All Stock Lists

Investing Tools

Calendars and Tools

Search Headlines