CWA Asset Management Group LLC Takes Position in Maplebear Inc. (NASDAQ:CART)

CWA Asset Management Group LLC bought a new position in Maplebear Inc. (NASDAQ:CART - Free Report) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor bought 63,697 shares of the company's stock, valued at approximately $2,541,000.

Several other institutional investors and hedge funds have also bought and sold shares of CART. Victory Capital Management Inc. lifted its stake in Maplebear by 11,501.2% in the 4th quarter. Victory Capital Management Inc. now owns 4,526,673 shares of the company's stock worth $187,495,000 after purchasing an additional 4,487,654 shares in the last quarter. Boston Partners bought a new position in shares of Maplebear in the 4th quarter worth $111,506,000. Altimeter Capital Management LP bought a new position in shares of Maplebear in the 4th quarter worth $105,108,000. Vanguard Group Inc. increased its holdings in shares of Maplebear by 16.8% in the 4th quarter. Vanguard Group Inc. now owns 15,968,358 shares of the company's stock worth $661,409,000 after buying an additional 2,300,288 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Maplebear in the 4th quarter worth $95,162,000. 63.09% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Maplebear news, CEO Fidji Simo sold 8,133 shares of Maplebear stock in a transaction that occurred on Monday, April 14th. The shares were sold at an average price of $41.60, for a total value of $338,332.80. Following the completion of the sale, the chief executive officer now owns 1,646,426 shares of the company's stock, valued at approximately $68,491,321.60. The trade was a 0.49% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, General Counsel Morgan Fong sold 5,249 shares of Maplebear stock in a transaction that occurred on Monday, April 21st. The stock was sold at an average price of $42.57, for a total transaction of $223,449.93. Following the completion of the sale, the general counsel now directly owns 484,292 shares of the company's stock, valued at approximately $20,616,310.44. This trade represents a 1.07% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 17,607 shares of company stock worth $762,259 in the last three months. Insiders own 26.00% of the company's stock.

Maplebear Price Performance

NASDAQ CART traded up $0.61 during mid-day trading on Friday, reaching $43.75. The stock had a trading volume of 6,092,347 shares, compared to its average volume of 4,024,122. Maplebear Inc. has a 1 year low of $29.84 and a 1 year high of $53.44. The stock has a market cap of $11.49 billion, a PE ratio of 28.38, a price-to-earnings-growth ratio of 1.82 and a beta of 1.30. The company has a fifty day moving average price of $44.15 and a 200 day moving average price of $43.73.

Maplebear (NASDAQ:CART - Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $897.00 million during the quarter, compared to analysts' expectations of $896.86 million. During the same quarter in the previous year, the firm earned $0.43 earnings per share. Maplebear's revenue was up 9.4% on a year-over-year basis. As a group, equities research analysts expect that Maplebear Inc. will post 1.43 earnings per share for the current year.

Analyst Ratings Changes

CART has been the topic of several recent research reports. JPMorgan Chase & Co. reduced their target price on shares of Maplebear from $50.00 to $44.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. Stifel Nicolaus dropped their target price on shares of Maplebear from $57.00 to $54.00 and set a "buy" rating for the company in a research report on Wednesday, April 23rd. Loop Capital raised their target price on shares of Maplebear from $52.00 to $58.00 and gave the stock a "buy" rating in a research report on Monday, May 19th. Bank of America raised their target price on shares of Maplebear from $51.00 to $53.00 and gave the stock a "neutral" rating in a research report on Tuesday, February 25th. Finally, Wells Fargo & Company dropped their target price on shares of Maplebear from $47.00 to $44.00 and set an "equal weight" rating for the company in a research report on Thursday, April 3rd. Thirteen analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target 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.