First Trust Advisors LP Acquires 159,829 Shares of Maplebear Inc. (NASDAQ:CART)

First Trust Advisors LP grew its holdings in Maplebear Inc. (NASDAQ:CART - Free Report) by 110.9% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 303,914 shares of the company's stock after acquiring an additional 159,829 shares during the period. First Trust Advisors LP owned 0.12% of Maplebear worth $12,588,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Jones Financial Companies Lllp lifted its position in shares of Maplebear by 46.6% in 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 during the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in Maplebear in the 3rd quarter worth approximately $33,000. Allworth Financial LP boosted its position in Maplebear by 101.4% during the fourth 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. NewEdge Advisors LLC grew its holdings in Maplebear by 277.9% during the fourth quarter. NewEdge Advisors LLC now owns 975 shares of the company's stock valued at $40,000 after purchasing an additional 717 shares during the last quarter. Finally, Cullen Frost Bankers Inc. bought a new position in shares of Maplebear in the fourth quarter valued at approximately $62,000. Institutional investors and hedge funds own 63.09% of the company's stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Bank of America boosted their target price on shares of Maplebear from $51.00 to $53.00 and gave the stock a "neutral" rating in a research report on Tuesday, February 25th. JMP Securities reiterated a "market outperform" rating and issued a $55.00 price objective on shares of Maplebear in a research note on Friday, April 11th. FBN Securities started coverage on Maplebear in a report on Friday, March 28th. They issued a "sector perform" rating and a $44.00 target price on the stock. JPMorgan Chase & Co. dropped their price target on Maplebear from $50.00 to $44.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. Finally, Barclays increased their price objective on Maplebear from $56.00 to $58.00 and gave the company an "overweight" rating in a research report on Wednesday, February 26th. Twelve analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Maplebear has an average rating of "Moderate Buy" and an average price target of $50.48.

Insider Transactions at Maplebear

In other Maplebear news, CEO Fidji Simo sold 20,750 shares of the stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $43.31, for a total transaction of $898,682.50. Following the sale, the chief executive officer now owns 1,662,692 shares of the company's stock, valued at $72,011,190.52. This represents a 1.23 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Morgan Fong sold 5,249 shares of the company's stock in a transaction that occurred on Monday, April 21st. The stock was sold at an average price of $42.57, for a total transaction of $223,449.93. Following the transaction, the general counsel now owns 484,292 shares in the company, valued at $20,616,310.44. The trade was a 1.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 36,165 shares of company stock worth $1,541,785. Insiders own 26.00% of the company's stock.

Maplebear Stock Up 0.6 %

Shares of CART stock opened at $41.91 on Monday. The company has a market capitalization of $11.00 billion, a P/E ratio of 28.13, a P/E/G ratio of 1.19 and a beta of 1.20. Maplebear Inc. has a 12-month low of $29.84 and a 12-month high of $53.44. The firm has a 50-day moving average price of $41.13 and a 200 day moving average price of $43.54.

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

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.

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