Focus Partners Wealth Invests $859,000 in Maplebear Inc. (NASDAQ:CART)

Focus Partners Wealth acquired a new stake in shares of Maplebear Inc. (NASDAQ:CART - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 20,742 shares of the company's stock, valued at approximately $859,000.

Other institutional investors have also added to or reduced their stakes in the company. Jones Financial Companies Lllp lifted its holdings in Maplebear by 46.6% during the fourth quarter. Jones Financial Companies Lllp now owns 698 shares of the company's stock valued at $29,000 after purchasing an additional 222 shares during the last quarter. Allworth Financial LP increased its position in shares of Maplebear by 101.4% during the fourth quarter. Allworth Financial LP now owns 834 shares of the company's stock valued at $37,000 after buying an additional 420 shares during the period. NewEdge Advisors LLC increased its position in shares of Maplebear by 277.9% during 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 period. Anderson Financial Strategies LLC bought a new stake in shares of Maplebear during the fourth quarter valued at about $46,000. Finally, Cullen Frost Bankers Inc. bought a new stake in shares of Maplebear during the fourth quarter valued at about $62,000. 63.09% of the stock is owned by hedge funds and other institutional investors.

Maplebear Trading Down 0.1%

Shares of NASDAQ:CART traded down $0.04 during trading on Friday, reaching $46.99. 3,973,745 shares of the company traded hands, compared to its average volume of 4,048,927. The firm has a market capitalization of $12.34 billion, a price-to-earnings ratio of 31.54, a P/E/G ratio of 1.19 and a beta of 1.19. Maplebear Inc. has a 52-week low of $29.84 and a 52-week high of $53.44. The business's fifty day moving average is $41.93 and its 200-day moving average is $43.61.

Maplebear (NASDAQ:CART - Get Free Report) last released 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). The company had revenue of $897.00 million for the quarter, compared to analysts' expectations of $896.86 million. Maplebear had a net margin of 13.37% and a return on equity of 13.78%. The business's revenue for the quarter was up 9.4% compared to the same quarter last year. During the same period last year, the company posted $0.43 EPS. On average, sell-side analysts predict that Maplebear Inc. will post 1.43 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on CART. FBN Securities began coverage on Maplebear in a research report on Friday, March 28th. They set a "sector perform" rating and a $44.00 price target on the stock. Mizuho decreased their price target on Maplebear from $55.00 to $52.00 and set an "outperform" rating on the stock in a research report on Wednesday, February 26th. Wells Fargo & Company decreased their price target on Maplebear from $47.00 to $44.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 3rd. Needham & Company LLC reiterated a "buy" rating and set a $56.00 price target on shares of Maplebear in a research report on Friday, May 2nd. Finally, Macquarie reiterated an "outperform" rating and set a $55.00 price target on shares of Maplebear in a research report on Tuesday, May 6th. Twelve investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $51.30.

Insider Activity

In related news, General Counsel Morgan Fong sold 5,249 shares of the firm's stock in a transaction on Monday, April 21st. The stock was sold at an average price of $42.57, for a total value of $223,449.93. Following the completion of the sale, the general counsel now owns 484,292 shares of the company's stock, valued at $20,616,310.44. This trade represents a 1.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Fidji Simo sold 20,750 shares of the firm's stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $43.31, for a total value of $898,682.50. Following the completion of the sale, the chief executive officer now directly owns 1,662,692 shares of the company's stock, valued at $72,011,190.52. The trade was a 1.23% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 36,165 shares of company stock valued at $1,541,785. 26.00% of the stock is currently owned by company insiders.

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.