Gateway Investment Advisers LLC Makes New Investment in Maplebear Inc. (NASDAQ:CART)

Gateway Investment Advisers LLC bought a new stake in Maplebear Inc. (NASDAQ:CART - Free Report) in the 1st quarter, according to its most recent disclosure with the SEC. The fund bought 12,566 shares of the company's stock, valued at approximately $501,000.

Several other institutional investors also recently bought and sold shares of the company. Congress Asset Management Co. purchased a new position in shares of Maplebear in the 1st quarter valued at about $11,723,000. Arkfeld Wealth Strategies L.L.C. boosted its stake in shares of Maplebear by 2.5% in the 1st quarter. Arkfeld Wealth Strategies L.L.C. now owns 19,098 shares of the company's stock valued at $746,000 after buying an additional 470 shares during the period. Intellectus Partners LLC boosted its stake in shares of Maplebear by 4.7% in the 1st quarter. Intellectus Partners LLC now owns 23,552 shares of the company's stock valued at $939,000 after buying an additional 1,052 shares during the period. RFG Advisory LLC purchased a new position in shares of Maplebear in the 1st quarter valued at about $563,000. Finally, NBC Securities Inc. boosted its stake in shares of Maplebear by 63,233.3% in the 1st quarter. NBC Securities Inc. now owns 9,500 shares of the company's stock valued at $378,000 after buying an additional 9,485 shares during the period. 63.09% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Levien Meredith A. Kopit sold 4,225 shares of the business's stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $47.45, for a total value of $200,476.25. Following the transaction, the director now owns 20,829 shares of the company's stock, valued at approximately $988,336.05. The trade was a 16.86% decrease in their ownership of the stock. 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 the company'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 transaction, the general counsel now directly owns 484,292 shares in the company, valued at $20,616,310.44. This represents a 1.07% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 19,640 shares of company stock valued at $843,579. Company insiders own 26.00% of the company's stock.

Analyst Ratings Changes

CART has been the subject of several recent research reports. Morgan Stanley lifted their price objective on Maplebear from $44.00 to $45.00 and gave the company an "equal weight" rating in a research note on Wednesday, February 26th. BMO Capital Markets boosted their target price on Maplebear from $48.00 to $49.00 and gave the stock a "market perform" rating in a research note on Wednesday, February 26th. Needham & Company LLC restated a "buy" rating and set a $56.00 target price on shares of Maplebear in a research note on Friday, May 2nd. Cantor Fitzgerald restated an "overweight" rating and set a $55.00 target price on shares of Maplebear in a research note on Wednesday, February 26th. Finally, Barclays boosted their target price on Maplebear from $58.00 to $61.00 and gave the stock an "overweight" rating in a research note on Friday, May 2nd. Thirteen analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $51.91.

Maplebear Stock Down 1.6%

CART traded down $0.71 during trading on Friday, hitting $43.37. 3,407,036 shares of the stock were exchanged, compared to its average volume of 4,017,132. The firm has a market capitalization of $11.39 billion, a P/E ratio of 29.11, a PEG ratio of 1.19 and a beta of 1.30. Maplebear Inc. has a 1-year low of $29.84 and a 1-year high of $53.44. The stock has a fifty day moving average price of $43.63 and a two-hundred day moving average price of $43.73.

Maplebear (NASDAQ:CART - Get Free Report) last released its 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). The company had revenue of $897.00 million during the quarter, compared to analyst estimates of $896.86 million. Maplebear had a net margin of 13.37% and a return on equity of 13.78%. The company's revenue for the quarter was up 9.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.43 EPS. Analysts predict that Maplebear Inc. will post 1.43 EPS for the current year.

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.