Mutual of America Capital Management LLC Makes New $3.32 Million Investment in Maplebear Inc. (NASDAQ:CART)

Mutual of America Capital Management LLC acquired a new stake in Maplebear Inc. (NASDAQ:CART - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 83,298 shares of the company's stock, valued at approximately $3,323,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Proathlete Wealth Management LLC acquired a new stake in Maplebear during the first quarter worth about $26,000. Jones Financial Companies Lllp increased its position 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 purchasing an additional 222 shares during the last quarter. NewEdge Advisors LLC increased its position 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 purchasing an additional 717 shares during the last quarter. UMB Bank n.a. increased its position in Maplebear by 914.1% during the first quarter. UMB Bank n.a. now owns 1,004 shares of the company's stock worth $40,000 after purchasing an additional 905 shares during the last quarter. Finally, Spire Wealth Management acquired a new stake in Maplebear during the first quarter worth about $41,000. Hedge funds and other institutional investors own 63.09% of the company's stock.

Maplebear Price Performance

Shares of NASDAQ CART traded up $0.74 during midday trading on Friday, hitting $49.11. The company's stock had a trading volume of 3,356,560 shares, compared to its average volume of 3,958,422. Maplebear Inc. has a 1 year low of $29.84 and a 1 year high of $53.44. The business's fifty day simple moving average is $45.82 and its two-hundred day simple moving average is $44.25. The firm has a market capitalization of $12.89 billion, a price-to-earnings ratio of 32.31, a price-to-earnings-growth ratio of 2.01 and a beta of 1.21.

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

Insider Buying and Selling

In related news, Director Levien Meredith A. Kopit sold 4,225 shares of Maplebear 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 transaction, the director owned 20,829 shares in the company, valued at $988,336.05. The trade was a 16.86% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Fidji Simo sold 14,233 shares of Maplebear stock in a transaction that occurred on Monday, July 14th. The stock was sold at an average price of $47.86, for a total transaction of $681,191.38. Following the completion of the transaction, the chief executive officer owned 2,032,005 shares of the company's stock, valued at $97,251,759.30. This represents a 0.70% decrease in their position. The disclosure for this sale can be found here. Insiders sold 28,387 shares of company stock worth $1,310,570 over the last 90 days. 26.00% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research firms recently issued reports on CART. Loop Capital raised their price objective on shares of Maplebear from $52.00 to $58.00 and gave the stock a "buy" rating in a research report on Monday, May 19th. Stifel Nicolaus cut their price objective on shares of Maplebear from $57.00 to $54.00 and set a "buy" rating for the company in a research report on Wednesday, April 23rd. JMP Securities restated a "market outperform" rating and set a $55.00 price objective on shares of Maplebear in a research report on Thursday, June 12th. Needham & Company LLC reaffirmed a "buy" rating and set a $56.00 target price on shares of Maplebear in a research note on Friday, May 2nd. Finally, Jefferies Financial Group increased their target price 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. Eleven analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $51.95.

About Maplebear

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.