94,097 Maplebear Inc. $CART Shares Purchased by Crossmark Global Holdings Inc.

Key Points

• Crossmark Global Holdings increased its Maplebear position by 1,497.9%, purchasing 94,097 additional shares to own 100,379 shares valued at approximately $4.33 million. Institutional investors and hedge funds collectively own 63.09% of the stock.
• Maplebear shares opened at $56.44, near their one-year high of $57.98. The company’s latest quarterly revenue rose 14.1% year over year to $1.04 billion, although EPS of $0.45 missed analysts’ $0.54 estimate.
• Analysts maintain a “Moderate Buy” consensus, with 14 Buy ratings and six Holds and an average price target of $58.24. Meanwhile, insiders sold 192,813 shares worth $9.63 million over the past 90 days.

Crossmark Global Holdings Inc. boosted its position in Maplebear Inc. (NASDAQ:CART - Free Report) by 1,497.9% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 100,379 shares of the company's stock after purchasing an additional 94,097 shares during the period. Crossmark Global Holdings Inc.'s holdings in Maplebear were worth $4,328,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Wedmont Private Capital increased its holdings in Maplebear by 4.3% during the 3rd quarter. Wedmont Private Capital now owns 7,026 shares of the company's stock valued at $325,000 after acquiring an additional 290 shares in the last quarter. CX Institutional increased its position in Maplebear by 91.5% during the third quarter. CX Institutional now owns 944 shares of the company's stock worth $41,000 after buying an additional 451 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of Maplebear by 11.3% in the third quarter. GAMMA Investing LLC now owns 4,783 shares of the company's stock worth $206,000 after acquiring an additional 486 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its holdings in shares of Maplebear by 8.7% in the first quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 6,450 shares of the company's stock worth $242,000 after acquiring an additional 514 shares during the last quarter. Finally, Versant Capital Management Inc raised its holdings in shares of Maplebear by 94.7% in the second quarter. Versant Capital Management Inc now owns 1,215 shares of the company's stock worth $58,000 after acquiring an additional 591 shares during the last quarter. 63.09% of the stock is owned by institutional investors and hedge funds.

Maplebear Stock Performance

NASDAQ CART opened at $56.44 on Friday. Maplebear Inc. has a one year low of $32.73 and a one year high of $57.98. The firm has a market capitalization of $13.07 billion, a PE ratio of 30.84, a price-to-earnings-growth ratio of 1.00 and a beta of 0.87. The company has a 50-day simple moving average of $48.20 and a 200-day simple moving average of $45.19.

Maplebear (NASDAQ:CART - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The company reported $0.45 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.54 by ($0.09). The business had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.03 billion. Maplebear had a return on equity of 20.19% and a net margin of 11.97%. The company's revenue was up 14.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.41 EPS. Equities analysts forecast that Maplebear Inc. will post 2.33 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Morgan Fong sold 18,390 shares of the stock in a transaction that occurred on Tuesday, September 22nd. The stock was sold at an average price of $44.98, for a total value of $827,182.20. Following the completion of the sale, the insider directly owned 529,911 shares of the company's stock, valued at approximately $23,835,396.78. This represents a 3.35% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ravi Gupta sold 150,000 shares of the company's stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $50.61, for a total value of $7,591,500.00. Following the completion of the sale, the director owned 591,523 shares in the company, valued at $29,936,979.03. This trade represents a 20.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 192,813 shares of company stock valued at $9,629,020 over the last 90 days. 24.00% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several analysts have recently issued reports on CART shares. Weiss Ratings upgraded Maplebear from a "hold (c)" rating to a "hold (c+)" rating in a research report on Thursday, October 15th. Rosenblatt Securities assumed coverage on shares of Maplebear in a research report on Tuesday, September 1st. They set a "neutral" rating and a $55.00 price target for the company. Needham & Company LLC increased their price target on shares of Maplebear from $55.00 to $63.00 and gave the stock a "buy" rating in a research note on Friday, August 7th. Guggenheim upped their price objective on Maplebear from $44.00 to $46.00 and gave the stock a "neutral" rating in a report on Friday, August 7th. Finally, Citigroup raised their price objective on Maplebear from $50.00 to $58.00 and gave the stock a "buy" rating in a report on Monday, August 10th. Fourteen research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $58.24.

About Maplebear

Maplebear Inc, doing business as Instacart, operates a technology-enabled grocery marketplace that connects consumers with retailers and personal shoppers. Through its website and mobile applications, customers can order groceries and other household products for delivery or pickup from participating supermarkets, specialty food stores, convenience retailers and other merchants.

The company also provides retailers with e-commerce, fulfillment and advertising solutions. Its platform supports online storefronts, order management, delivery logistics, customer engagement and data-driven marketing, allowing retail partners to offer digital shopping services and reach consumers through Instacart's marketplace.

Founded in 2012, Maplebear serves customers across the United States and Canada.

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