RFG Advisory LLC Makes New Investment in Maplebear Inc. (NASDAQ:CART)

RFG Advisory LLC acquired a new position in shares of Maplebear Inc. (NASDAQ:CART - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 14,118 shares of the company's stock, valued at approximately $563,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Victory Capital Management Inc. grew its position in Maplebear by 11,501.2% during the fourth quarter. Victory Capital Management Inc. now owns 4,526,673 shares of the company's stock valued at $187,495,000 after buying an additional 4,487,654 shares during the period. Boston Partners bought a new position in Maplebear in the 4th quarter worth about $111,506,000. Altimeter Capital Management LP purchased a new position in Maplebear during the fourth quarter valued at approximately $105,108,000. Vanguard Group Inc. increased its holdings in shares of Maplebear by 16.8% in the fourth quarter. Vanguard Group Inc. now owns 15,968,358 shares of the company's stock worth $661,409,000 after purchasing an additional 2,300,288 shares during the period. Finally, Norges Bank purchased a new stake in shares of Maplebear in the 4th quarter valued at about $95,162,000. 63.09% of the stock is owned by hedge funds and other institutional investors.

Maplebear Stock Performance

Shares of CART traded down $1.74 during mid-day trading on Tuesday, hitting $44.18. 3,458,602 shares of the stock were exchanged, compared to its average volume of 4,016,851. The company has a market cap of $11.60 billion, a PE ratio of 29.65, a price-to-earnings-growth ratio of 1.19 and a beta of 1.30. Maplebear Inc. has a 52-week low of $29.84 and a 52-week high of $53.44. The firm has a 50-day moving average of $43.36 and a two-hundred day moving average of $43.73.

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

Insider Activity at Maplebear

In other Maplebear news, CEO Fidji Simo sold 2,033 shares of the company's stock in a transaction that occurred on Monday, March 17th. The stock was 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 in the company, valued at $66,182,360. This represents a 0.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Levien Meredith A. Kopit sold 4,225 shares of the firm's stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $47.45, for a total value of $200,476.25. Following the completion of the sale, the director now directly owns 20,829 shares of the company's stock, valued at $988,336.05. The trade was a 16.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 19,640 shares of company stock valued at $843,579. Insiders own 26.00% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Jefferies Financial Group raised their price target on Maplebear from $48.00 to $50.00 and gave the company a "hold" rating in a research report on Tuesday, May 27th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $55.00 target price on shares of Maplebear in a research note on Wednesday, February 26th. Seaport Res Ptn raised Maplebear to a "strong-buy" rating in a research report on Wednesday, February 12th. JPMorgan Chase & Co. reduced their target price on Maplebear from $50.00 to $44.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $56.00 target price on shares of Maplebear in a research report on Friday, May 2nd. Thirteen analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, Maplebear has a consensus rating of "Moderate Buy" and an average price target of $51.91.

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.