Left Brain Wealth Management LLC purchased a new stake in shares of Maplebear Inc. (NASDAQ:CART - Free Report) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 10,575 shares of the company's stock, valued at approximately $438,000.
A number of other institutional investors and hedge funds have also bought and sold shares of CART. Jones Financial Companies Lllp grew its position in Maplebear by 46.6% during the fourth quarter. Jones Financial Companies Lllp now owns 698 shares of the company's stock valued at $29,000 after acquiring an additional 222 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new position in Maplebear during the third quarter valued at approximately $33,000. Allworth Financial LP grew its holdings in shares of Maplebear by 101.4% in 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 last quarter. Huntington National Bank bought a new position in shares of Maplebear in the third quarter worth approximately $54,000. Finally, Cullen Frost Bankers Inc. bought a new position in shares of Maplebear in the fourth quarter worth approximately $62,000. 63.09% of the stock is currently owned by institutional investors.
Maplebear Stock Performance
Maplebear stock traded down $0.48 during midday trading on Tuesday, hitting $40.16. 3,631,633 shares of the company were exchanged, compared to its average volume of 3,888,370. The firm has a market capitalization of $10.63 billion, a PE ratio of 26.95, a price-to-earnings-growth ratio of 1.19 and a beta of 1.34. Maplebear Inc. has a fifty-two week low of $29.84 and a fifty-two week high of $53.44. The business has a fifty day simple moving average of $45.48 and a two-hundred day simple moving average of $43.21.
Maplebear (NASDAQ:CART - Get Free Report) last issued its quarterly earnings data on Tuesday, February 25th. The company reported $0.53 EPS for the quarter, beating the consensus estimate of $0.37 by $0.16. The company had revenue of $883.00 million for the quarter, compared to analyst estimates of $889.98 million. Maplebear had a return on equity of 13.78% and a net margin of 13.37%. As a group, equities analysts expect that Maplebear Inc. will post 1.43 earnings per share for the current year.
Wall Street Analyst Weigh In
Several brokerages have recently issued reports on CART. Loop Capital cut their target price on shares of Maplebear from $56.00 to $52.00 and set a "buy" rating on the stock in a report on Thursday, March 6th. Stifel Nicolaus raised their target price on shares of Maplebear from $56.00 to $57.00 and gave the stock a "buy" rating in a report on Wednesday, February 26th. Cantor Fitzgerald restated an "overweight" rating and issued a $55.00 target price on shares of Maplebear in a report on Wednesday, February 26th. Morgan Stanley raised their target price on shares of Maplebear from $44.00 to $45.00 and gave the stock an "equal weight" rating in a report on Wednesday, February 26th. Finally, Bank of America raised their target price 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, fifteen have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Maplebear currently has an average rating of "Moderate Buy" and an average target price of $50.52.
Read Our Latest Research Report on Maplebear
Insider Activity
In related news, CAO Alan Ramsay sold 2,314 shares of Maplebear stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $46.28, for a total transaction of $107,091.92. Following the transaction, the chief accounting officer now owns 85,421 shares in the company, valued at approximately $3,953,283.88. This trade represents a 2.64 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Fidji Simo sold 20,750 shares of Maplebear stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $43.31, for a total value of $898,682.50. Following the transaction, the chief executive officer now owns 1,662,692 shares in the company, valued at approximately $72,011,190.52. The trade was a 1.23 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 46,061 shares of company stock worth $1,987,318 over the last quarter. 36.00% of the stock is currently owned by corporate insiders.
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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