Bridgefront Capital LLC Raises Stock Holdings in Maplebear Inc. (NASDAQ:CART)

Bridgefront Capital LLC raised its position in shares of Maplebear Inc. (NASDAQ:CART - Free Report) by 64.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 14,290 shares of the company's stock after acquiring an additional 5,609 shares during the period. Bridgefront Capital LLC's holdings in Maplebear were worth $592,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in CART. Jones Financial Companies Lllp grew its holdings in Maplebear by 46.6% during the 4th quarter. Jones Financial Companies Lllp now owns 698 shares of the company's stock valued at $29,000 after purchasing an additional 222 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new position in Maplebear in the 3rd quarter valued at $33,000. Allworth Financial LP grew its stake in Maplebear by 101.4% in the 4th quarter. Allworth Financial LP now owns 834 shares of the company's stock worth $37,000 after acquiring an additional 420 shares in the last quarter. NewEdge Advisors LLC increased its position 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 acquiring an additional 717 shares during the period. Finally, Anderson Financial Strategies LLC bought a new stake in shares of Maplebear during the fourth quarter valued at approximately $46,000. Hedge funds and other institutional investors own 63.09% of the company's stock.

Maplebear Trading Down 6.0 %

NASDAQ CART traded down $2.76 on Thursday, hitting $42.97. 5,736,889 shares of the company's stock traded hands, compared to its average volume of 4,123,007. The firm has a market capitalization of $11.28 billion, a PE ratio of 28.84, a P/E/G ratio of 1.19 and a beta of 1.19. Maplebear Inc. has a 1-year low of $29.84 and a 1-year high of $53.44. The firm's 50-day moving average price is $40.45 and its two-hundred day moving average price is $43.53.

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

Insider Buying and Selling

In related news, CEO Fidji Simo sold 2,033 shares of the stock in a transaction on Monday, March 17th. The shares were sold at an average price of $40.00, for a total transaction of $81,320.00. Following the sale, the chief executive officer now directly owns 1,654,559 shares of the company's stock, valued at approximately $66,182,360. This represents a 0.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, General Counsel Morgan Fong sold 5,249 shares of the firm's stock in a transaction on Monday, April 21st. The shares were 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 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 valued at $1,541,785 over the last ninety days. Company insiders own 26.00% of the company's stock.

Analysts Set New Price Targets

CART has been the topic of several research reports. Stifel Nicolaus reduced their price objective on Maplebear from $57.00 to $54.00 and set a "buy" rating on the stock in a report on Wednesday, April 23rd. BTIG Research upgraded Maplebear from a "neutral" rating to a "buy" rating and set a $58.00 price target on the stock in a report on Tuesday, January 14th. Macquarie restated an "outperform" rating and set a $55.00 price objective on shares of Maplebear in a research note on Tuesday. Mizuho reduced their target price on shares of Maplebear from $55.00 to $52.00 and set an "outperform" rating for the company in a report on Wednesday, February 26th. Finally, Barclays lifted their price objective on shares of Maplebear from $58.00 to $61.00 and gave the stock an "overweight" rating in a research report on Friday, May 2nd. Twelve investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Maplebear has a consensus rating of "Moderate Buy" and a consensus price target of $50.61.

Maplebear Company 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.