13,992 Shares in Maplebear Inc. $CART Acquired by Financiere des Professionnels Fonds d investissement inc.

Key Points

• Financiere des Professionnels Fonds d investissement inc. invested $633,000 in Maplebear Inc. by acquiring 13,992 shares, marking a new position for the fund in the second quarter.
• Insider sales have occurred recently, with General Counsel Morgan Fong selling 4,680 shares and insider Daniel Danker selling 10,037 shares, signaling a decrease in their stock ownership of 1.02% and 2.09%, respectively.
• Maplebear's stock has been upgraded by various analysts, with a consensus target price of $55.58 and an average rating of "Moderate Buy" as Wall Street forecasts growth for the company.

Financiere des Professionnels Fonds d investissement inc. bought a new position in shares of Maplebear Inc. (NASDAQ:CART - Free Report) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 13,992 shares of the company's stock, valued at approximately $633,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Principal Financial Group Inc. grew its holdings in Maplebear by 4,154.7% during the 1st quarter. Principal Financial Group Inc. now owns 372,581 shares of the company's stock worth $14,862,000 after acquiring an additional 363,824 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Maplebear by 18.6% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,056 shares of the company's stock valued at $82,000 after buying an additional 322 shares in the last quarter. Cambridge Investment Research Advisors Inc. boosted its holdings in shares of Maplebear by 7.6% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 6,166 shares of the company's stock valued at $246,000 after buying an additional 433 shares in the last quarter. Golden State Wealth Management LLC boosted its holdings in shares of Maplebear by 100.0% in the 1st quarter. Golden State Wealth Management LLC now owns 1,066 shares of the company's stock valued at $43,000 after buying an additional 533 shares in the last quarter. Finally, New York State Teachers Retirement System boosted its holdings in shares of Maplebear by 542.8% in the 1st quarter. New York State Teachers Retirement System now owns 101,720 shares of the company's stock valued at $4,058,000 after buying an additional 85,896 shares in the last quarter. 63.09% of the stock is currently owned by institutional investors.

Maplebear Stock Down 8.6%

NASDAQ:CART traded down $3.90 on Friday, reaching $41.50. 17,155,400 shares of the company's stock were exchanged, compared to its average volume of 3,910,375. The firm has a market capitalization of $10.93 billion, a price-to-earnings ratio of 23.99, a price-to-earnings-growth ratio of 1.39 and a beta of 1.21. The business has a fifty day moving average of $46.46 and a 200-day moving average of $44.21. Maplebear Inc. has a 52-week low of $35.14 and a 52-week high of $53.50.

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

Insider Buying and Selling at Maplebear

In related news, General Counsel Morgan Fong sold 4,680 shares of the company's stock in a transaction that occurred on Monday, July 21st. The shares were sold at an average price of $49.16, for a total transaction of $230,068.80. Following the sale, the general counsel directly owned 452,000 shares in the company, valued at approximately $22,220,320. This represents a 1.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Grosvenor L.P. Gcm sold 4,864,272 shares of the company's stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $47.75, for a total transaction of $232,268,988.00. The disclosure for this sale can be found here. Insiders have sold 4,973,562 shares of company stock valued at $237,668,642 over the last three months. 26.00% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of analysts recently commented on the stock. Wells Fargo & Company lifted their target price on shares of Maplebear from $55.00 to $57.00 and gave the stock an "equal weight" rating in a research note on Friday, September 5th. 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. Sanford C. Bernstein lifted their target price on shares of Maplebear from $55.00 to $60.00 and gave the stock an "outperform" rating in a research note on Monday, July 21st. JMP Securities lifted their target price on shares of Maplebear from $55.00 to $60.00 and gave the stock a "market outperform" rating in a research note on Friday, August 8th. Finally, Wedbush reissued an "underperform" rating and set a $42.00 price target (down from $55.00) on shares of Maplebear in a research report on Thursday, August 21st. One equities 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. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $55.58.

Maplebear Company 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.