Private Client Services LLC Takes Position in Maplebear Inc. (NASDAQ:CART)

Private Client Services LLC bought a new stake in shares of Maplebear Inc. (NASDAQ:CART - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 41,749 shares of the company's stock, valued at approximately $1,665,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Jones Financial Companies Lllp boosted its position 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 acquiring an additional 222 shares in the last quarter. Allworth Financial LP boosted its position in Maplebear by 101.4% during the 4th quarter. Allworth Financial LP now owns 834 shares of the company's stock valued at $37,000 after acquiring an additional 420 shares in the last quarter. NewEdge Advisors LLC lifted its holdings in shares of Maplebear by 277.9% during the 4th quarter. NewEdge Advisors LLC now owns 975 shares of the company's stock valued at $40,000 after purchasing an additional 717 shares during the last quarter. Anderson Financial Strategies LLC purchased a new stake in shares of Maplebear during the 4th quarter valued at $46,000. Finally, Cullen Frost Bankers Inc. purchased a new stake in shares of Maplebear during the 4th quarter valued at $62,000. Institutional investors own 63.09% of the company's stock.

Insider Buying and Selling at Maplebear

In other Maplebear news, CEO Fidji Simo sold 8,133 shares of Maplebear stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $41.60, for a total transaction of $338,332.80. Following the completion of the transaction, the chief executive officer now owns 1,646,426 shares in the company, valued at approximately $68,491,321.60. This trade represents a 0.49% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, General Counsel Morgan Fong sold 5,249 shares of the firm's stock in a transaction dated Monday, April 21st. The shares were sold at an average price of $42.57, for a total value of $223,449.93. Following the sale, the general counsel now owns 484,292 shares in the company, valued at $20,616,310.44. This trade represents a 1.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 15,415 shares of company stock worth $643,103. Insiders own 26.00% of the company's stock.

Maplebear Trading Down 0.5%

Shares of NASDAQ CART traded down $0.21 during trading on Friday, reaching $45.55. 3,157,383 shares of the company traded hands, compared to its average volume of 4,032,133. The firm's fifty day simple moving average is $42.57 and its 200 day simple moving average is $43.56. The stock has a market cap of $11.96 billion, a P/E ratio of 30.57, a PEG ratio of 1.19 and a beta of 1.19. Maplebear Inc. has a 12-month low of $29.84 and a 12-month high of $53.44.

Maplebear (NASDAQ:CART - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The company reported $0.37 earnings per share for the quarter, missing analysts' consensus estimates of $0.38 by ($0.01). The company had revenue of $897.00 million for 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%. The business's quarterly revenue was up 9.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.43 EPS. As a group, research analysts expect that Maplebear Inc. will post 1.43 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently commented on CART. Mizuho decreased their price objective on Maplebear from $55.00 to $52.00 and set an "outperform" rating for the company in a report on Wednesday, February 26th. Needham & Company LLC reiterated a "buy" rating and set a $56.00 price objective on shares of Maplebear in a report on Friday, May 2nd. Wedbush decreased their price objective on Maplebear from $48.00 to $46.00 and set a "neutral" rating for the company in a report on Wednesday, February 26th. Seaport Res Ptn upgraded Maplebear to a "strong-buy" rating in a report on Wednesday, February 12th. Finally, JPMorgan Chase & Co. decreased their price objective on Maplebear from $50.00 to $44.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. Thirteen analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Maplebear has an average rating of "Moderate Buy" and a consensus target price of $51.61.

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.