Gateway Investment Advisers LLC Purchases Shares of 12,566 Maplebear Inc. (NASDAQ:CART)

Gateway Investment Advisers LLC bought a new stake in Maplebear Inc. (NASDAQ:CART - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 12,566 shares of the company's stock, valued at approximately $501,000.

Other large investors have also recently made changes to their positions in the company. Wilmington Savings Fund Society FSB raised its position in Maplebear by 120.2% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 1,795 shares of the company's stock worth $74,000 after purchasing an additional 980 shares during the period. Newbridge Financial Services Group Inc. purchased a new stake in Maplebear in the fourth quarter worth $151,000. Certuity LLC lifted its position in shares of Maplebear by 67.8% during the fourth quarter. Certuity LLC now owns 56,435 shares of the company's stock worth $2,338,000 after purchasing an additional 22,798 shares during the last quarter. Allworth Financial LP boosted its stake 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 purchasing an additional 420 shares during the period. Finally, CIBC Asset Management Inc grew its holdings in shares of Maplebear by 5.4% in the fourth quarter. CIBC Asset Management Inc now owns 8,554 shares of the company's stock worth $354,000 after purchasing an additional 440 shares during the last quarter. 63.09% of the stock is currently owned by institutional investors.

Maplebear Stock Performance

CART stock traded down $0.25 on Thursday, hitting $43.92. 1,206,172 shares of the company's stock were exchanged, compared to its average volume of 4,005,348. The firm has a 50 day moving average price of $43.50 and a two-hundred day moving average price of $43.73. Maplebear Inc. has a 12-month low of $29.84 and a 12-month high of $53.44. The stock has a market cap of $11.53 billion, a P/E ratio of 29.48, a price-to-earnings-growth ratio of 1.19 and a beta of 1.30.

Maplebear (NASDAQ:CART - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The company reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.01). The company had revenue of $897.00 million for 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 business's revenue was up 9.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.43 EPS. Sell-side analysts expect that Maplebear Inc. will post 1.43 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Fidji Simo sold 8,133 shares of the company's stock in a transaction that occurred on Monday, April 14th. The stock was sold at an average price of $41.60, for a total value of $338,332.80. Following the sale, the chief executive officer now owns 1,646,426 shares in the company, valued at $68,491,321.60. This represents a 0.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Levien Meredith A. Kopit sold 4,225 shares of the stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $47.45, for a total transaction of $200,476.25. Following the completion of the transaction, the director now owns 20,829 shares in the company, valued at approximately $988,336.05. This trade represents a 16.86% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 19,640 shares of company stock valued at $843,579. Insiders own 26.00% of the company's stock.

Analysts Set New Price Targets

CART has been the subject of a number of research analyst reports. BMO Capital Markets lifted their price objective on shares of Maplebear from $48.00 to $49.00 and gave the company a "market perform" rating in a report on Wednesday, February 26th. FBN Securities started coverage on shares of Maplebear in a research note on Friday, March 28th. They set a "sector perform" rating and a $44.00 price target for the company. Loop Capital boosted their price target on Maplebear from $52.00 to $58.00 and gave the company a "buy" rating in a report on Monday, May 19th. Stifel Nicolaus reduced their price objective on Maplebear from $57.00 to $54.00 and set a "buy" rating on the stock in a report on Wednesday, April 23rd. Finally, Macquarie reiterated an "outperform" rating and issued a $55.00 target price on shares of Maplebear in a report on Tuesday, May 6th. Thirteen investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $51.91.

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.