Maplebear Inc. (NASDAQ:CART) Shares Bought by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC lifted its stake in Maplebear Inc. (NASDAQ:CART - Free Report) by 212.1% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 23,938 shares of the company's stock after purchasing an additional 16,267 shares during the quarter. Janney Montgomery Scott LLC's holdings in Maplebear were worth $992,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Portman Ltd purchased a new position in shares of Maplebear in the 3rd quarter worth approximately $3,196,000. State Street Corp lifted its stake in shares of Maplebear by 48.3% during the 3rd quarter. State Street Corp now owns 2,552,617 shares of the company's stock worth $103,994,000 after acquiring an additional 831,795 shares during the last quarter. Cerity Partners LLC bought a new stake in shares of Maplebear during the 3rd quarter worth approximately $1,442,000. Charles Schwab Investment Management Inc. lifted its stake in shares of Maplebear by 5,191.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,489,655 shares of the company's stock worth $60,689,000 after acquiring an additional 1,461,501 shares during the last quarter. Finally, Zacks Investment Management bought a new stake in shares of Maplebear during the 3rd quarter worth approximately $4,853,000. Hedge funds and other institutional investors own 63.09% of the company's stock.

Maplebear Stock Performance

CART stock traded up $0.62 on Friday, hitting $49.21. 2,542,468 shares of the company's stock were exchanged, compared to its average volume of 4,314,468. Maplebear Inc. has a 12-month low of $24.43 and a 12-month high of $50.11. The firm has a 50 day moving average price of $44.61 and a two-hundred day moving average price of $41.12. The stock has a market cap of $12.64 billion, a P/E ratio of 33.03, a price-to-earnings-growth ratio of 1.09 and a beta of 1.07.

Maplebear (NASDAQ:CART - Get Free Report) last announced its earnings results on Tuesday, November 12th. The company reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.20. Maplebear had a return on equity of 13.78% and a net margin of 13.37%. The firm had revenue of $852.00 million for the quarter, compared to the consensus estimate of $844.03 million. During the same period in the previous year, the business earned ($20.86) EPS. The firm's revenue for the quarter was up 11.5% on a year-over-year basis. Sell-side analysts expect that Maplebear Inc. will post 1.43 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on CART shares. Deutsche Bank Aktiengesellschaft started coverage on Maplebear in a research note on Tuesday, December 3rd. They set a "hold" rating and a $37.00 price target for the company. Stifel Nicolaus raised their price target on Maplebear from $52.00 to $55.00 and gave the stock a "buy" rating in a research note on Monday, October 28th. Piper Sandler raised their price target on Maplebear from $50.00 to $58.00 and gave the stock an "overweight" rating in a research note on Wednesday, November 13th. Oppenheimer raised their price target on Maplebear from $55.00 to $60.00 and gave the stock an "outperform" rating in a research note on Wednesday, November 13th. Finally, Macquarie lifted their target price 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 given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $48.96.

Insider Buying and Selling

In other Maplebear news, CEO Fidji Simo sold 20,750 shares of the business's stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $42.74, for a total transaction of $886,855.00. Following the sale, the chief executive officer now owns 1,771,993 shares in the company, valued at approximately $75,734,980.82. The trade was a 1.16 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Alan Ramsay sold 2,247 shares of the business's stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $41.06, for a total value of $92,261.82. Following the sale, the chief accounting officer now owns 89,982 shares in the company, valued at approximately $3,694,660.92. The trade was a 2.44 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 50,555 shares of company stock worth $2,164,787 in the last ninety days. 36.00% of the stock is owned by insiders.

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.