Lazard Asset Management LLC purchased a new stake in Maplebear Inc. (NASDAQ:CART - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 6,397 shares of the company's stock, valued at approximately $263,000.
Other institutional investors and hedge funds have also bought and sold shares of the company. Jones Financial Companies Lllp raised its holdings in Maplebear by 46.6% during the fourth quarter. Jones Financial Companies Lllp now owns 698 shares of the company's stock worth $29,000 after acquiring an additional 222 shares in the last quarter. Allworth Financial LP raised its holdings in Maplebear by 101.4% during the fourth 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 raised its holdings in 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 in the last quarter. Anderson Financial Strategies LLC bought a new stake in Maplebear during the fourth quarter worth about $46,000. Finally, Cullen Frost Bankers Inc. bought a new stake in Maplebear during the fourth quarter worth about $62,000. Institutional investors own 63.09% of the company's stock.
Maplebear Stock Performance
Shares of CART traded up $0.06 during trading hours on Tuesday, reaching $47.05. The stock had a trading volume of 3,265,615 shares, compared to its average volume of 4,048,002. Maplebear Inc. has a 12 month low of $29.84 and a 12 month high of $53.44. The stock has a market capitalization of $12.35 billion, a PE ratio of 31.58, a PEG ratio of 1.19 and a beta of 1.19. The company's 50-day moving average is $42.08 and its two-hundred day moving average is $43.54.
Maplebear (NASDAQ:CART - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The company reported $0.37 EPS for the quarter, missing analysts' consensus estimates of $0.38 by ($0.01). The firm had revenue of $897.00 million during the quarter, compared to the consensus estimate of $896.86 million. Maplebear had a net margin of 13.37% and a return on equity of 13.78%. The firm's revenue was up 9.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.43 earnings per share. Equities analysts anticipate that Maplebear Inc. will post 1.43 earnings per share for the current fiscal year.
Insider Buying and Selling
In other Maplebear news, General Counsel Morgan Fong sold 5,249 shares of the stock in a transaction dated Monday, April 21st. The stock was sold at an average price of $42.57, for a total transaction of $223,449.93. Following the completion of the sale, the general counsel now directly owns 484,292 shares in the company, valued at approximately $20,616,310.44. This trade represents a 1.07% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Fidji Simo sold 2,033 shares of the stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $40.00, for a total value of $81,320.00. Following the sale, the chief executive officer now owns 1,654,559 shares of the company's stock, valued at approximately $66,182,360. The trade was a 0.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 36,165 shares of company stock valued at $1,541,785 in the last three months. Insiders own 26.00% of the company's stock.
Analyst Ratings Changes
Several research firms recently issued reports on CART. Jefferies Financial Group upped their target price on Maplebear from $48.00 to $50.00 and gave the stock a "hold" rating in a report on Tuesday. JMP Securities reiterated a "market outperform" rating and set a $55.00 target price on shares of Maplebear in a report on Friday, April 11th. Needham & Company LLC reiterated a "buy" rating and set a $56.00 target price on shares of Maplebear in a report on Friday, May 2nd. Cantor Fitzgerald restated an "overweight" rating and issued a $55.00 price objective on shares of Maplebear in a research note on Wednesday, February 26th. Finally, JPMorgan Chase & Co. dropped their price objective on Maplebear from $50.00 to $44.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. Twelve analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $51.61.
Get Our Latest Analysis on CART
Maplebear Profile
(
Free Report)
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.
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