Cookson Peirce & Co. Inc. Makes New $8.64 Million Investment in Maplebear Inc. (NASDAQ:CART)

Key Points

• Cookson Peirce & Co. Inc. has made a significant investment of $8.64 million in Maplebear Inc. (NASDAQ:CART), acquiring 216,473 shares, which reflects a 0.08% ownership stake.
• Maplebear Inc. reported earnings per share of $0.41 for the last quarter, exceeding analysts' expectations of $0.39, with revenues of $914 million, up 11.1% year-over-year.
• Analysts' target prices for Maplebear have been raised by several brokerages, with the average consensus price target now at $55.33, reflecting a majority "buy" and "hold" ratings.

Cookson Peirce & Co. Inc. acquired a new position in shares of Maplebear Inc. (NASDAQ:CART - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 216,473 shares of the company's stock, valued at approximately $8,635,000. Cookson Peirce & Co. Inc. owned 0.08% of Maplebear as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Proathlete Wealth Management LLC acquired a new stake in shares of Maplebear in the first quarter valued at about $26,000. NewEdge Advisors LLC raised its position in shares of Maplebear by 277.9% in the fourth quarter. NewEdge Advisors LLC now owns 975 shares of the company's stock valued at $40,000 after buying an additional 717 shares during the last quarter. UMB Bank n.a. raised its position in shares of Maplebear by 914.1% in the first quarter. UMB Bank n.a. now owns 1,004 shares of the company's stock valued at $40,000 after buying an additional 905 shares during the last quarter. Spire Wealth Management acquired a new stake in shares of Maplebear in the first quarter valued at about $41,000. Finally, CWM LLC raised its position in shares of Maplebear by 35.1% in the first quarter. CWM LLC now owns 1,058 shares of the company's stock valued at $42,000 after buying an additional 275 shares during the last quarter. 63.09% of the stock is currently owned by institutional investors and hedge funds.

Maplebear Stock Performance

NASDAQ:CART opened at $45.11 on Thursday. The stock has a market capitalization of $11.88 billion, a P/E ratio of 26.08, a PEG ratio of 1.70 and a beta of 1.21. The company has a 50 day moving average price of $46.88 and a 200 day moving average price of $44.77. Maplebear Inc. has a fifty-two week low of $31.59 and a fifty-two week high of $53.50.

Maplebear (NASDAQ:CART - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The company reported $0.41 earnings per share for the quarter, topping analysts' consensus estimates of $0.39 by $0.02. The firm had revenue of $914.00 million during the quarter, compared to analysts' expectations of $896.55 million. Maplebear had a net margin of 13.76% and a return on equity of 15.69%. The firm's quarterly revenue was up 11.1% on a year-over-year basis. During the same quarter last year, the company posted $0.20 EPS. Research analysts forecast that Maplebear Inc. will post 1.43 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Fidji Simo sold 66,560 shares of the firm's stock in a transaction that occurred on Tuesday, July 22nd. The shares were sold at an average price of $50.01, for a total value of $3,328,665.60. Following the completion of the transaction, the chief executive officer owned 1,965,445 shares of the company's stock, valued at approximately $98,291,904.45. This trade represents a 3.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Daniel Danker sold 10,037 shares of the firm's stock in a transaction that occurred on Friday, July 18th. The shares were sold at an average price of $48.82, for a total transaction of $490,006.34. Following the completion of the transaction, the insider directly owned 470,190 shares of the company's stock, valued at approximately $22,954,675.80. The trade was a 2.09% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 4,975,327 shares of company stock valued at $237,736,848. 26.00% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on CART. Barclays increased their target price on shares of Maplebear from $61.00 to $65.00 and gave the company an "overweight" rating in a research report on Friday, August 8th. Jefferies Financial Group increased their target price on shares of Maplebear from $50.00 to $55.00 and gave the company a "hold" rating in a research report on Monday. Needham & Company LLC increased their target price on shares of Maplebear from $56.00 to $66.00 and gave the company a "buy" rating in a research report on Friday, August 8th. Wells Fargo & Company increased their target price on shares of Maplebear from $47.00 to $55.00 and gave the company an "equal weight" rating in a research report on Friday, August 8th. Finally, Robert W. Baird increased their target price on shares of Maplebear from $47.00 to $52.00 and gave the company an "outperform" rating in a research report on Thursday, July 17th. Nine investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $55.33.

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.

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