Investment House LLC Purchases 83,045 Shares of Maplebear Inc. (NASDAQ:CART)

Investment House LLC boosted its holdings in shares of Maplebear Inc. (NASDAQ:CART - Free Report) by 73.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 196,665 shares of the company's stock after acquiring an additional 83,045 shares during the quarter. Investment House LLC owned 0.08% of Maplebear worth $8,146,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Jones Financial Companies Lllp raised its holdings in shares of Maplebear by 46.6% during the fourth quarter. Jones Financial Companies Lllp now owns 698 shares of the company's stock worth $29,000 after acquiring an additional 222 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in shares of Maplebear during the 3rd quarter worth about $33,000. Allworth Financial LP lifted its holdings in shares of Maplebear by 101.4% during the 4th quarter. Allworth Financial LP now owns 834 shares of the company's stock valued at $37,000 after buying an additional 420 shares during the last quarter. Huntington National Bank bought a new stake in shares of Maplebear in the 3rd quarter valued at approximately $54,000. Finally, Cullen Frost Bankers Inc. acquired a new position in Maplebear in the fourth quarter worth approximately $62,000. Hedge funds and other institutional investors own 63.09% of the company's stock.

Insider Buying and Selling

In other news, CAO Alan Ramsay sold 2,314 shares of the firm's stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $46.28, for a total value of $107,091.92. Following the transaction, the chief accounting officer now directly owns 85,421 shares in the company, valued at $3,953,283.88. This trade represents a 2.64 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Fidji Simo sold 20,750 shares of Maplebear stock in a transaction 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 sale, the chief executive officer now directly owns 1,662,692 shares of the company's stock, valued at approximately $72,011,190.52. This trade represents a 1.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 25,097 shares of company stock valued at $1,087,094 over the last ninety days. Insiders own 36.00% of the company's stock.

Remove Ads

Maplebear Price Performance

Shares of CART stock traded down $0.03 on Friday, reaching $38.90. 13,057,199 shares of the stock were exchanged, compared to its average volume of 3,937,898. Maplebear Inc. has a one year low of $29.84 and a one year high of $53.44. The stock has a market cap of $10.29 billion, a PE ratio of 26.11, a P/E/G ratio of 1.19 and a beta of 1.34. The stock has a 50 day moving average price of $45.10 and a 200 day moving average price of $43.27.

Maplebear (NASDAQ:CART - Get Free Report) last announced its quarterly earnings data on Tuesday, February 25th. The company reported $0.53 EPS for the quarter, topping 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. On average, research analysts expect that Maplebear Inc. will post 1.43 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have commented on CART. Wedbush decreased their target price on shares of Maplebear from $48.00 to $46.00 and set a "neutral" rating for the company in a research report on Wednesday, February 26th. BMO Capital Markets raised their price target on shares of Maplebear from $48.00 to $49.00 and gave the stock a "market perform" rating in a research report on Wednesday, February 26th. Benchmark reaffirmed a "hold" rating on shares of Maplebear in a report on Wednesday, February 26th. Wells Fargo & Company assumed coverage on Maplebear in a report on Friday, January 10th. They issued an "equal weight" rating and a $47.00 target price for the company. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $55.00 price target on shares of Maplebear in a research note on Wednesday, February 26th. Thirteen research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Maplebear currently has a consensus rating of "Moderate Buy" and a consensus target price of $50.52.

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.