Calamos Advisors LLC Buys New Shares in Maplebear Inc. (NASDAQ:CART)

Calamos Advisors LLC bought a new stake in shares of Maplebear Inc. (NASDAQ:CART - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 10,119 shares of the company's stock, valued at approximately $404,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Proathlete Wealth Management LLC purchased a new stake in shares of Maplebear in the 1st quarter valued at approximately $26,000. Jones Financial Companies Lllp lifted its position in shares of Maplebear by 46.6% in the 4th quarter. Jones Financial Companies Lllp now owns 698 shares of the company's stock valued at $29,000 after acquiring an additional 222 shares in the last quarter. NewEdge Advisors LLC lifted its position in shares of Maplebear by 277.9% in the 4th quarter. NewEdge Advisors LLC now owns 975 shares of the company's stock valued at $40,000 after acquiring an additional 717 shares in the last quarter. UMB Bank n.a. lifted its position in shares of Maplebear by 914.1% in the 1st quarter. UMB Bank n.a. now owns 1,004 shares of the company's stock valued at $40,000 after acquiring an additional 905 shares in the last quarter. Finally, Spire Wealth Management purchased a new stake in shares of Maplebear in the 1st quarter valued at approximately $41,000. 63.09% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently commented on CART. JMP Securities restated a "market outperform" rating and issued a $55.00 price target on shares of Maplebear in a research report on Thursday, June 12th. Jefferies Financial Group upped their price target on shares of Maplebear from $48.00 to $50.00 and gave the company a "hold" rating in a research report on Tuesday, May 27th. Wall Street Zen downgraded shares of Maplebear from a "buy" rating to a "hold" rating in a research report on Friday, May 30th. Barclays upped their price target 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. Finally, FBN Securities initiated coverage on shares of Maplebear in a research note on Friday, March 28th. They issued a "sector perform" rating and a $44.00 price objective on the stock. Thirteen research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Maplebear currently has a consensus rating of "Moderate Buy" and a consensus price target of $51.91.

Insiders Place Their Bets

In other Maplebear news, Director Levien Meredith A. Kopit sold 4,225 shares of the firm's stock in a transaction 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 sale, the director directly owned 20,829 shares in the company, valued at $988,336.05. This trade represents a 16.86% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Fidji Simo sold 8,133 shares of the firm's stock in a transaction on Monday, April 14th. The stock was sold at an average price of $41.60, for a total transaction of $338,332.80. Following the completion of the sale, the chief executive officer owned 1,646,426 shares in the company, valued at $68,491,321.60. This represents a 0.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 22,287 shares of company stock worth $967,711 in the last ninety days. Insiders own 26.00% of the company's stock.

Maplebear Price Performance

NASDAQ CART opened at $47.23 on Monday. The firm has a market capitalization of $12.40 billion, a price-to-earnings ratio of 31.07, a P/E/G ratio of 1.99 and a beta of 1.21. The company's fifty day moving average is $44.84 and its two-hundred day moving average is $43.92. 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 quarterly earnings results on Thursday, May 1st. The company reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.01). The company had revenue of $897.00 million during the quarter, compared to analyst estimates of $896.86 million. Maplebear had a return on equity of 14.12% and a net margin of 12.45%. The business's revenue for the quarter was up 9.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.43 earnings per share. As a group, sell-side analysts expect that Maplebear Inc. will post 1.43 earnings per share for the current fiscal year.

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.

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