5,445 Shares in Maplebear Inc. (NASDAQ:CART) Acquired by Forum Financial Management LP

Forum Financial Management LP purchased a new position in shares of Maplebear Inc. (NASDAQ:CART - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 5,445 shares of the company's stock, valued at approximately $217,000.

A number of other institutional investors and hedge funds have also made changes to their positions in CART. Raymond James Financial Inc. acquired a new position in shares of Maplebear during the fourth quarter worth about $3,861,000. PNC Financial Services Group Inc. increased its stake in shares of Maplebear by 243.3% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,399 shares of the company's stock worth $141,000 after acquiring an additional 2,409 shares during the period. Commonwealth Equity Services LLC acquired a new position in shares of Maplebear during the fourth quarter worth about $234,000. Xponance Inc. increased its stake in shares of Maplebear by 18.5% during the fourth quarter. Xponance Inc. now owns 7,704 shares of the company's stock worth $319,000 after acquiring an additional 1,205 shares during the period. Finally, Vinva Investment Management Ltd increased its stake in shares of Maplebear by 229.3% during the fourth quarter. Vinva Investment Management Ltd now owns 17,143 shares of the company's stock worth $710,000 after acquiring an additional 11,937 shares during the period. 63.09% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, General Counsel Morgan Fong sold 5,249 shares of the company's stock in a transaction that occurred on Monday, April 21st. The shares were sold at an average price of $42.57, for a total transaction of $223,449.93. Following the completion of the transaction, the general counsel owned 484,292 shares of the company's stock, valued at approximately $20,616,310.44. This represents a 1.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Fidji Simo sold 14,233 shares of the company's stock in a transaction that occurred on Monday, July 14th. The stock was sold at an average price of $47.86, for a total transaction of $681,191.38. Following the transaction, the chief executive officer directly owned 2,032,005 shares of the company's stock, valued at $97,251,759.30. This trade represents a 0.70% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 28,387 shares of company stock valued at $1,310,570. Insiders own 26.00% of the company's stock.

Maplebear Stock Performance

Maplebear stock traded up $0.74 during trading on Friday, hitting $49.11. The company's stock had a trading volume of 3,356,560 shares, compared to its average volume of 3,963,298. The stock's fifty day moving average is $45.93 and its 200 day moving average is $44.32. Maplebear Inc. has a 1-year low of $29.84 and a 1-year high of $53.44. The stock has a market capitalization of $12.89 billion, a price-to-earnings ratio of 32.31, a P/E/G ratio of 2.07 and a beta of 1.21.

Maplebear (NASDAQ:CART - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The company reported $0.37 earnings per share (EPS) 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 business had revenue of $897.00 million during the quarter, compared to analyst estimates of $896.86 million. During the same period in the previous year, the business posted $0.43 earnings per share. The firm's quarterly revenue was up 9.4% on a year-over-year basis. On average, research analysts anticipate that Maplebear Inc. will post 1.43 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have weighed in on CART shares. Needham & Company LLC restated a "buy" rating and set a $56.00 target price on shares of Maplebear in a research report on Friday, May 2nd. FBN Securities started coverage on shares of Maplebear in a research report on Friday, March 28th. They set a "sector perform" rating and a $44.00 target price on the stock. Citigroup upped their target price on shares of Maplebear from $55.00 to $57.00 and gave the stock a "buy" rating in a research report on Tuesday, May 13th. Jefferies Financial Group upped their target price on shares of Maplebear from $48.00 to $50.00 and gave the stock a "hold" rating in a research report on Tuesday, May 27th. Finally, Stifel Nicolaus lowered their target price on shares of Maplebear from $57.00 to $54.00 and set a "buy" rating on the stock in a research report on Wednesday, April 23rd. Eleven analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $51.95.

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.