World Investment Advisors Buys New Position in Maplebear Inc. (NASDAQ:CART)

World Investment Advisors purchased a new stake in shares of Maplebear Inc. (NASDAQ:CART - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 6,293 shares of the company's stock, valued at approximately $251,000.

A number of other hedge funds also recently bought and sold shares of the business. Proathlete Wealth Management LLC purchased a new position in Maplebear in the 1st quarter worth about $26,000. Jones Financial Companies Lllp increased its stake in Maplebear by 46.6% in the 4th quarter. Jones Financial Companies Lllp now owns 698 shares of the company's stock worth $29,000 after buying an additional 222 shares during the period. NewEdge Advisors LLC increased its stake in Maplebear by 277.9% in the 4th quarter. NewEdge Advisors LLC now owns 975 shares of the company's stock worth $40,000 after buying an additional 717 shares during the period. UMB Bank n.a. increased its stake in Maplebear by 914.1% in the 1st quarter. UMB Bank n.a. now owns 1,004 shares of the company's stock worth $40,000 after buying an additional 905 shares during the period. Finally, Spire Wealth Management purchased a new position in Maplebear in the 1st quarter worth about $41,000. Hedge funds and other institutional investors own 63.09% of the company's stock.

Analyst Upgrades and Downgrades

CART has been the topic of several recent analyst reports. Jefferies Financial Group raised their price target on shares of Maplebear from $48.00 to $50.00 and gave the stock a "hold" rating in a research note on Tuesday, May 27th. Macquarie reaffirmed an "outperform" rating and issued a $55.00 price target on shares of Maplebear in a research note on Tuesday, May 6th. JPMorgan Chase & Co. dropped their target price on shares of Maplebear from $50.00 to $44.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. Wells Fargo & Company dropped their target price on shares of Maplebear from $47.00 to $44.00 and set an "equal weight" rating on the stock in a report on Thursday, April 3rd. Finally, Stifel Nicolaus dropped their target price on shares of Maplebear from $57.00 to $54.00 and set a "buy" rating on the stock in a report on Wednesday, April 23rd. Twelve investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $51.91.

Maplebear Stock Performance

NASDAQ:CART traded down $0.44 during trading hours on Friday, hitting $47.99. The company's stock had a trading volume of 2,339,798 shares, compared to its average volume of 3,948,245. The business's 50-day moving average is $45.59 and its two-hundred day moving average is $44.10. The company has a market capitalization of $12.60 billion, a PE ratio of 31.57, a PEG ratio of 2.04 and a beta of 1.21. Maplebear Inc. has a 52-week low of $29.84 and a 52-week high of $53.44.

Maplebear (NASDAQ:CART - Get Free Report) last posted its earnings results on Thursday, May 1st. The company reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.38 by ($0.01). The firm had revenue of $897.00 million during the quarter, compared to analyst estimates of $896.86 million. Maplebear had a net margin of 12.45% and a return on equity of 14.12%. The firm's revenue for the quarter was up 9.4% on a year-over-year basis. During the same period last year, the company posted $0.43 EPS. As a group, analysts predict that Maplebear Inc. will post 1.43 EPS for the current fiscal year.

Insider Activity at Maplebear

In other Maplebear news, General Counsel Morgan Fong sold 4,680 shares of the firm's stock in a transaction dated Friday, June 20th. The stock was sold at an average price of $43.90, for a total value of $205,452.00. Following the sale, the general counsel directly owned 456,680 shares of the company's stock, valued at approximately $20,048,252. This trade represents a 1.01% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Levien Meredith A. Kopit sold 4,225 shares of the firm's stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $47.45, for a total value of $200,476.25. Following the completion of the sale, the director directly owned 20,829 shares in the company, valued at approximately $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. Insiders have sold a total of 22,287 shares of company stock valued at $967,711 over the last quarter. Insiders own 26.00% of the company's stock.

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.