Maplebear Inc. (NASDAQ:CART) Holdings Lifted by Bank of America Corp DE

Bank of America Corp DE lifted its stake in shares of Maplebear Inc. (NASDAQ:CART - Free Report) by 19.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,502,676 shares of the company's stock after acquiring an additional 243,533 shares during the quarter. Bank of America Corp DE owned 0.58% of Maplebear worth $62,241,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of CART. Jones Financial Companies Lllp increased its position 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 during the period. Allworth Financial LP grew its stake in shares of Maplebear by 101.4% during the fourth quarter. Allworth Financial LP now owns 834 shares of the company's stock worth $37,000 after purchasing an additional 420 shares in the last quarter. NewEdge Advisors LLC grew its stake in shares of Maplebear by 277.9% during the fourth quarter. NewEdge Advisors LLC now owns 975 shares of the company's stock worth $40,000 after purchasing an additional 717 shares in the last quarter. Anderson Financial Strategies LLC acquired a new position in shares of Maplebear during the fourth quarter worth $46,000. Finally, Cullen Frost Bankers Inc. acquired a new position in shares of Maplebear during the fourth quarter worth $62,000. Hedge funds and other institutional investors own 63.09% of the company's stock.

Insider Buying and Selling

In related news, CEO Fidji Simo sold 20,750 shares of the stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $43.31, for a total transaction of $898,682.50. Following the sale, the chief executive officer now owns 1,662,692 shares in the company, valued at $72,011,190.52. This represents a 1.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Morgan Fong sold 5,249 shares of the stock in a transaction dated Monday, April 21st. The stock was sold at an average price of $42.57, for a total transaction of $223,449.93. Following the sale, the general counsel now owns 484,292 shares in the company, valued at approximately $20,616,310.44. This trade represents a 1.07% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 36,165 shares of company stock worth $1,541,785 over the last quarter. 26.00% of the stock is owned by company insiders.

Maplebear Stock Performance

Shares of Maplebear stock traded up $1.54 during trading on Friday, reaching $45.66. The company had a trading volume of 2,998,841 shares, compared to its average volume of 4,072,999. The company has a market cap of $11.99 billion, a price-to-earnings ratio of 30.64, a price-to-earnings-growth ratio of 1.19 and a beta of 1.19. The firm's fifty day moving average is $41.16 and its 200-day moving average is $43.54. Maplebear Inc. has a fifty-two week low of $29.84 and a fifty-two week high of $53.44.

Maplebear (NASDAQ:CART - Get Free Report) last issued its earnings results on Thursday, May 1st. The company reported $0.37 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.38 by ($0.01). The company had revenue of $897.00 million during the quarter, compared to analyst estimates of $896.86 million. Maplebear had a net margin of 13.37% and a return on equity of 13.78%. The business's revenue for the quarter was up 9.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.43 EPS. On average, research analysts anticipate that Maplebear Inc. will post 1.43 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

CART has been the subject of a number of analyst reports. Morgan Stanley boosted their target price on shares of Maplebear from $44.00 to $45.00 and gave the stock an "equal weight" rating in a research note on Wednesday, February 26th. Wedbush lowered their target price on shares of Maplebear from $48.00 to $46.00 and set a "neutral" rating for the company in a research note on Wednesday, February 26th. Macquarie reiterated an "outperform" rating and set a $55.00 target price on shares of Maplebear in a research note on Tuesday, May 6th. Oppenheimer decreased their price objective on shares of Maplebear from $65.00 to $60.00 and set an "outperform" rating for the company in a research note on Wednesday, February 26th. Finally, Seaport Res Ptn upgraded shares of Maplebear to a "strong-buy" rating in a research note on Wednesday, February 12th. Twelve research 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. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $51.04.

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.