10,119 Shares in Maplebear Inc. (NASDAQ:CART) Purchased by Calamos Advisors LLC

Calamos Advisors LLC bought a new stake in Maplebear Inc. (NASDAQ:CART - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 10,119 shares of the company's stock, valued at approximately $404,000.

Other large investors also recently made changes to their positions in the company. Proathlete Wealth Management LLC acquired a new position in Maplebear in the 1st quarter valued at approximately $26,000. Jones Financial Companies Lllp increased its stake in shares of Maplebear by 46.6% in 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 during the last quarter. NewEdge Advisors LLC increased its stake in shares of Maplebear by 277.9% in the fourth quarter. NewEdge Advisors LLC now owns 975 shares of the company's stock worth $40,000 after acquiring an additional 717 shares during the last quarter. UMB Bank n.a. boosted 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 valued at $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 valued at $41,000. Institutional investors and hedge funds own 63.09% of the company's stock.

Maplebear Stock Up 0.9%

CART traded up $0.43 during trading on Thursday, reaching $48.43. 3,475,372 shares of the company's stock were exchanged, compared to its average volume of 4,288,804. Maplebear Inc. has a fifty-two week low of $29.84 and a fifty-two week high of $53.44. The business has a 50 day moving average price of $45.36 and a 200 day moving average price of $44.03. The company has a market capitalization of $12.71 billion, a P/E ratio of 31.86, a PEG ratio of 2.05 and a beta of 1.21.

Maplebear (NASDAQ:CART - Get Free Report) last posted its quarterly earnings results 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). Maplebear had a return on equity of 14.12% and a net margin of 12.45%. The business had revenue of $897.00 million for the quarter, compared to analyst estimates of $896.86 million. During the same quarter in the prior year, the firm earned $0.43 EPS. The firm's quarterly revenue was up 9.4% on a year-over-year basis. As a group, research analysts forecast that Maplebear Inc. will post 1.43 EPS for the current year.

Insiders Place Their Bets

In other news, Director Levien Meredith A. Kopit sold 4,225 shares of the company's stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $47.45, for a total value of $200,476.25. Following the sale, the director owned 20,829 shares of the company's stock, valued at approximately $988,336.05. This represents a 16.86% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Morgan Fong sold 4,680 shares of the company's stock in a transaction dated Friday, June 20th. The stock was sold at an average price of $43.90, for a total transaction of $205,452.00. Following the completion of the sale, the general counsel directly owned 456,680 shares in the company, valued at approximately $20,048,252. The trade was a 1.01% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 22,287 shares of company stock worth $967,711 over the last 90 days. Corporate insiders own 26.00% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on CART. Stifel Nicolaus reduced their price target on Maplebear from $57.00 to $54.00 and set a "buy" rating for the company in a report on Wednesday, April 23rd. Needham & Company LLC reaffirmed a "buy" rating and set a $56.00 price objective on shares of Maplebear in a research report on Friday, May 2nd. JPMorgan Chase & Co. cut their price objective on shares of Maplebear from $50.00 to $44.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. Wall Street Zen lowered shares of Maplebear from a "buy" rating to a "hold" rating in a research report on Friday, May 30th. Finally, Barclays raised their price objective on shares of Maplebear from $58.00 to $61.00 and gave the company an "overweight" rating in a research report on Friday, May 2nd. Thirteen research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $51.91.

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.