GenTrust LLC Takes Position in Maplebear Inc. (NASDAQ:CART)

GenTrust LLC bought a new stake in Maplebear Inc. (NASDAQ:CART - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm bought 545,466 shares of the company's stock, valued at approximately $22,593,000. Maplebear accounts for about 1.0% of GenTrust LLC's holdings, making the stock its 23rd biggest holding. GenTrust LLC owned about 0.21% of Maplebear at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Lake Street Advisors Group LLC acquired a new stake in Maplebear during the 4th quarter worth approximately $373,000. Bank of New York Mellon Corp lifted its position in shares of Maplebear by 4.1% in the 4th quarter. Bank of New York Mellon Corp now owns 593,480 shares of the company's stock worth $24,582,000 after purchasing an additional 23,295 shares during the period. Handelsbanken Fonder AB bought a new stake in shares of Maplebear in the 4th quarter valued at $1,508,000. Ieq Capital LLC increased its stake in shares of Maplebear by 1.9% in the 4th quarter. Ieq Capital LLC now owns 225,957 shares of the company's stock valued at $9,359,000 after acquiring an additional 4,140 shares in the last quarter. Finally, Atria Wealth Solutions Inc. increased its stake in shares of Maplebear by 10.8% in the 4th quarter. Atria Wealth Solutions Inc. now owns 17,765 shares of the company's stock valued at $736,000 after acquiring an additional 1,738 shares in the last quarter. 63.09% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, CEO Fidji Simo sold 20,750 shares of the firm's stock in a transaction 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 completion of the transaction, the chief executive officer now directly owns 1,662,692 shares in the company, valued at $72,011,190.52. This trade represents a 1.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Alan Ramsay sold 2,247 shares of the firm's stock in a transaction on Friday, December 20th. The shares were sold at an average price of $42.14, for a total value of $94,688.58. Following the transaction, the chief accounting officer now owns 87,735 shares of the company's stock, valued at $3,697,152.90. The trade was a 2.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 46,061 shares of company stock valued at $1,987,318 over the last quarter. 36.00% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on CART. JMP Securities lifted their price objective on shares of Maplebear from $42.00 to $51.00 and gave the company a "market outperform" rating in a research note on Wednesday, November 13th. Barclays boosted their price target on shares of Maplebear from $56.00 to $58.00 and gave the company an "overweight" rating in a research note on Wednesday. Piper Sandler lifted their price objective on shares of Maplebear from $50.00 to $58.00 and gave the stock an "overweight" rating in a report on Wednesday, November 13th. Loop Capital lifted their price objective on shares of Maplebear from $49.00 to $56.00 and gave the stock a "buy" rating in a report on Monday, December 9th. Finally, Bank of America boosted their price target on shares of Maplebear from $51.00 to $53.00 and gave the stock a "neutral" rating in a report on Tuesday, February 25th. Thirteen research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Maplebear currently has an average rating of "Moderate Buy" and a consensus target price of $49.92.

Maplebear Price Performance

Shares of CART traded up $0.35 during midday trading on Friday, hitting $41.09. 5,558,472 shares of the company traded hands, compared to its average volume of 4,521,604. The stock has a 50-day moving average of $46.43 and a 200-day moving average of $42.80. The firm has a market cap of $10.56 billion, a P/E ratio of 27.58, a PEG ratio of 1.19 and a beta of 1.07. Maplebear Inc. has a one year low of $29.84 and a one year high of $53.44.

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

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.