67,451 Shares in Maplebear Inc. $CART Acquired by CW Advisors LLC

Key Points

• CW Advisors LLC has invested approximately $2.69 million in Maplebear Inc. (NASDAQ:CART) by acquiring 67,451 shares in the first quarter.
• Institutional investors own 63.09% of Maplebear's stock, with several firms increasing their positions significantly, including Victory Capital Management which raised its stake by 62.8%.
• The company reported earnings of $0.41 per share for the last quarter, surpassing analysts' expectations of $0.39, and achieved revenue of $914 million, reflecting an 11.1% year-over-year increase.

CW Advisors LLC purchased a new stake in shares of Maplebear Inc. (NASDAQ:CART - Free Report) during the 1st quarter, according to its most recent disclosure with the SEC. The fund purchased 67,451 shares of the company's stock, valued at approximately $2,691,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Proathlete Wealth Management LLC bought a new stake in shares of Maplebear in the 1st quarter valued at $26,000. NewEdge Advisors LLC raised its holdings in shares of Maplebear by 277.9% in the 4th quarter. NewEdge Advisors LLC now owns 975 shares of the company's stock worth $40,000 after purchasing an additional 717 shares during the period. 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 worth $40,000 after purchasing an additional 905 shares during the period. Brooklyn Investment Group purchased a new position in Maplebear in the 1st quarter valued at approximately $40,000. Finally, Spire Wealth Management bought a new position in shares of Maplebear in the first quarter valued at approximately $41,000. 63.09% of the stock is owned by institutional investors.

Maplebear Trading Up 1.3%

Maplebear stock traded up $0.56 during midday trading on Thursday, hitting $43.85. The stock had a trading volume of 2,662,554 shares, compared to its average volume of 4,383,217. The firm's fifty day moving average is $46.85 and its two-hundred day moving average is $44.51. The company has a market capitalization of $11.55 billion, a PE ratio of 25.35, a P/E/G ratio of 1.44 and a beta of 1.21. Maplebear Inc. has a 52-week low of $33.17 and a 52-week high of $53.50.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on CART shares. Barclays raised their target price on shares of Maplebear from $61.00 to $65.00 and gave the company an "overweight" rating in a research note on Friday, August 8th. Bank of America lifted their target price on shares of Maplebear from $53.00 to $58.00 and gave the stock a "neutral" rating in a research note on Friday, August 8th. Benchmark upgraded shares of Maplebear from a "hold" rating to a "buy" rating and set a $67.00 price target on the stock in a report on Friday, August 8th. JMP Securities lifted their price target on shares of Maplebear from $55.00 to $60.00 and gave the company a "market outperform" rating in a report on Friday, August 8th. Finally, Wedbush reaffirmed an "underperform" rating and issued a $42.00 target price (down from $55.00) on shares of Maplebear in a research report on Thursday, August 21st. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $55.63.

Insiders Place Their Bets

In related news, CEO Fidji Simo sold 6,640 shares of the firm's stock in a transaction dated Wednesday, July 23rd. The stock was sold at an average price of $50.00, for a total transaction of $332,000.00. Following the sale, the chief executive officer owned 1,958,805 shares of the company's stock, valued at $97,940,250. This trade represents a 0.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Levien Meredith A. Kopit sold 4,225 shares of the firm's stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $47.45, for a total value of $200,476.25. Following the completion of the sale, the director directly 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 disclosure for this sale can be found here. Over the last 90 days, insiders have sold 4,975,327 shares of company stock valued at $237,736,848. Insiders own 26.00% of the company's stock.

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.