SG Americas Securities LLC Takes $1.40 Million Position in Maplebear Inc. (NASDAQ:CART)

SG Americas Securities LLC acquired a new position in Maplebear Inc. (NASDAQ:CART - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 33,814 shares of the company's stock, valued at approximately $1,401,000.

Other institutional investors have also recently added to or reduced their stakes in the company. CIBC Asset Management Inc boosted its holdings in shares of Maplebear by 3.7% in the 3rd quarter. CIBC Asset Management Inc now owns 8,114 shares of the company's stock valued at $331,000 after buying an additional 286 shares during the period. Coldstream Capital Management Inc. boosted its stake in Maplebear by 1.6% in the third quarter. Coldstream Capital Management Inc. now owns 31,745 shares of the company's stock valued at $1,294,000 after acquiring an additional 490 shares during the period. Oppenheimer & Co. Inc. grew its holdings in shares of Maplebear by 5.1% during the third quarter. Oppenheimer & Co. Inc. now owns 12,090 shares of the company's stock valued at $493,000 after purchasing an additional 584 shares during the last quarter. Pier Capital LLC raised its position in shares of Maplebear by 0.4% during the 3rd quarter. Pier Capital LLC now owns 151,604 shares of the company's stock worth $6,176,000 after purchasing an additional 616 shares during the period. Finally, Wilmington Savings Fund Society FSB acquired a new stake in shares of Maplebear during the 3rd quarter worth approximately $33,000. Institutional investors own 63.09% of the company's stock.

Insider Activity

In other news, CEO Fidji Simo sold 20,750 shares of the business's stock in a transaction on Monday, November 25th. The shares were sold at an average price of $42.97, for a total transaction of $891,627.50. Following the transaction, the chief executive officer now directly owns 1,804,243 shares in the company, valued at $77,528,321.71. The trade was a 1.14 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, General Counsel Morgan Fong sold 29,253 shares of the stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $48.03, for a total value of $1,405,021.59. Following the sale, the general counsel now owns 258,406 shares of the company's stock, valued at approximately $12,411,240.18. This represents a 10.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 79,808 shares of company stock worth $3,569,808. 36.00% of the stock is owned by corporate insiders.

Maplebear Trading Down 1.2 %

Shares of CART traded down $0.57 during midday trading on Friday, hitting $48.34. The stock had a trading volume of 2,388,964 shares, compared to its average volume of 4,649,795. Maplebear Inc. has a fifty-two week low of $23.59 and a fifty-two week high of $50.01. The business has a 50-day simple moving average of $44.00 and a two-hundred day simple moving average of $40.53. The firm has a market cap of $12.42 billion, a P/E ratio of 32.44, a price-to-earnings-growth ratio of 1.09 and a beta of 1.04.

Maplebear (NASDAQ:CART - Get Free Report) last posted its quarterly earnings data 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. The firm had revenue of $852.00 million for the quarter, compared to analysts' expectations of $844.03 million. Maplebear had a net margin of 13.37% and a return on equity of 13.78%. The company's quarterly revenue was up 11.5% compared to the same quarter last year. During the same period in the previous year, the company posted ($20.86) EPS. On average, analysts expect that Maplebear Inc. will post 1.42 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently commented on CART. Macquarie upped their price objective on Maplebear from $50.00 to $52.00 and gave the stock an "outperform" rating in a research note on Thursday, November 14th. Loop Capital increased 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. BTIG Research raised shares of Maplebear from a "neutral" rating to a "buy" rating and set a $58.00 target price for the company in a research note on Tuesday, January 14th. Wells Fargo & Company began coverage on shares of Maplebear in a research note on Friday, January 10th. They issued an "equal weight" rating and a $47.00 price target on the stock. Finally, Barclays boosted their price objective on Maplebear from $48.00 to $56.00 and gave the stock an "overweight" rating in a research report on Wednesday, November 13th. Thirteen investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Maplebear presently has a consensus rating of "Moderate Buy" and an average price target of $48.96.

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.