Alliance Wealth Advisors LLC UT Makes New $572,000 Investment in Maplebear Inc. $CART

Key Points

• Alliance Wealth Advisors LLC UT acquired 14,329 shares of Maplebear Inc. (NASDAQ:CART), valued at approximately $572,000, during the first quarter.
• Several other hedge funds increased their stakes in Maplebear, with institutional investors collectively owning 63.09% of the company’s stock.
• Analyst ratings for Maplebear show a consensus of 17 buy ratings and an upgraded price target ranging from $55.00 to $67.00 from different research firms.

Alliance Wealth Advisors LLC UT bought a new position in Maplebear Inc. (NASDAQ:CART - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 14,329 shares of the company's stock, valued at approximately $572,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Twin Focus Capital Partners LLC purchased a new stake in Maplebear in the 1st quarter worth approximately $626,000. American Century Companies Inc. grew its stake in Maplebear by 249.1% in the 1st quarter. American Century Companies Inc. now owns 668,574 shares of the company's stock worth $26,669,000 after acquiring an additional 477,046 shares during the period. Ethic Inc. grew its stake in Maplebear by 21.3% in the 1st quarter. Ethic Inc. now owns 31,721 shares of the company's stock worth $1,276,000 after acquiring an additional 5,570 shares during the period. Marathon Trading Investment Management LLC grew its stake in Maplebear by 163.2% in the 1st quarter. Marathon Trading Investment Management LLC now owns 25,000 shares of the company's stock worth $997,000 after acquiring an additional 15,500 shares during the period. Finally, Cookson Peirce & Co. Inc. purchased a new stake in Maplebear in the 1st quarter worth approximately $8,635,000. 63.09% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Maplebear

In other news, insider Grosvenor L.P. Gcm sold 4,864,272 shares of the stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $47.75, for a total value of $232,268,988.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Fidji Simo sold 66,560 shares of the firm's stock in a transaction that occurred on Tuesday, July 22nd. The stock was sold at an average price of $50.01, for a total transaction of $3,328,665.60. Following the sale, the chief executive officer owned 1,965,445 shares of the company's stock, valued at $98,291,904.45. The trade was a 3.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 4,975,327 shares of company stock worth $237,736,848 in the last quarter. 26.00% of the stock is currently owned by corporate insiders.

Maplebear Stock Performance

Shares of Maplebear stock traded down $0.99 during trading on Thursday, reaching $44.52. The company had a trading volume of 5,434,042 shares, compared to its average volume of 4,380,640. The company has a market cap of $11.73 billion, a price-to-earnings ratio of 25.73, a price-to-earnings-growth ratio of 1.56 and a beta of 1.21. The firm's fifty day moving average is $46.87 and its 200-day moving average is $44.69. Maplebear Inc. has a fifty-two week low of $33.17 and a fifty-two week high of $53.50.

Maplebear (NASDAQ:CART - Get Free Report) last issued its earnings results on Thursday, August 7th. The company reported $0.41 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.39 by $0.02. The business had revenue of $914.00 million for the quarter, compared to analyst estimates of $896.55 million. Maplebear had a net margin of 13.76% and a return on equity of 15.69%. The company's revenue for the quarter was up 11.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.20 EPS. On average, research analysts anticipate that Maplebear Inc. will post 1.43 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on CART. Stifel Nicolaus boosted their price objective on shares of Maplebear from $55.00 to $64.00 and gave the company a "buy" rating in a research note on Friday, August 8th. Morgan Stanley boosted their price objective on shares of Maplebear from $45.00 to $48.00 and gave the company an "equal weight" rating in a research note on Friday, August 15th. Robert W. Baird boosted their price objective on shares of Maplebear from $47.00 to $52.00 and gave the company an "outperform" rating in a research note on Thursday, July 17th. Macquarie reissued an "outperform" rating and set a $55.00 price objective on shares of Maplebear in a research note on Tuesday, May 6th. Finally, Wedbush reissued an "underperform" rating and set a $42.00 price objective (down from $55.00) on shares of Maplebear in a research note on Thursday. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Maplebear presently has an average rating of "Moderate Buy" and a consensus price target of $55.29.

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.