Hedeker Wealth LLC acquired a new stake in shares of Maplebear Inc. (NASDAQ:CART - Free Report) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor acquired 32,783 shares of the company's stock, valued at approximately $1,308,000.
Several other institutional investors have also recently modified their holdings of CART. Raymond James Financial Inc. bought a new position in shares of Maplebear during the 4th quarter valued at about $3,861,000. Commonwealth Equity Services LLC bought a new position in Maplebear during the 4th quarter worth approximately $234,000. Xponance Inc. grew its position in Maplebear by 18.5% during the 4th 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 last quarter. Teacher Retirement System of Texas bought a new position in Maplebear during the 4th quarter worth approximately $1,587,000. Finally, American Century Companies Inc. grew its position in Maplebear by 25.6% during the 4th quarter. American Century Companies Inc. now owns 191,528 shares of the company's stock worth $7,933,000 after acquiring an additional 39,051 shares during the last quarter. 63.09% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
Several equities analysts recently issued reports on the company. Citigroup raised their price target on Maplebear from $55.00 to $57.00 and gave the stock a "buy" rating in a research report on Tuesday, May 13th. Stifel Nicolaus reduced their price target on Maplebear from $57.00 to $54.00 and set a "buy" rating on the stock in a research report on Wednesday, April 23rd. JMP Securities restated a "market outperform" rating and set a $55.00 price target on shares of Maplebear in a research report on Thursday, June 12th. JPMorgan Chase & Co. reduced their price target on Maplebear from $50.00 to $44.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. Finally, Wells Fargo & Company reduced 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. Eleven research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Maplebear currently has an average rating of "Moderate Buy" and a consensus target price of $52.30.
Get Our Latest Report on CART
Insider Buying and Selling
In other Maplebear news, General Counsel Morgan Fong sold 4,680 shares of Maplebear stock in a transaction on Monday, July 21st. The stock was sold at an average price of $49.16, for a total transaction of $230,068.80. Following the completion of the transaction, the general counsel owned 452,000 shares in the company, valued at approximately $22,220,320. The trade was a 1.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Levien Meredith A. Kopit sold 4,225 shares of Maplebear stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $47.45, for a total value of $200,476.25. Following the transaction, the director owned 20,829 shares of the company's stock, valued at $988,336.05. The trade was a 16.86% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 111,055 shares of company stock worth $5,467,860 over the last three months. 26.00% of the stock is owned by corporate insiders.
Maplebear Stock Performance
Shares of CART traded down $1.43 on Friday, reaching $48.41. The stock had a trading volume of 3,161,810 shares, compared to its average volume of 2,966,885. The firm has a market capitalization of $12.71 billion, a price-to-earnings ratio of 31.85, a price-to-earnings-growth ratio of 2.10 and a beta of 1.21. The company has a 50-day simple moving average of $46.41 and a 200-day simple moving average of $44.51. Maplebear Inc. has a 12-month low of $29.84 and a 12-month high of $53.44.
Maplebear (NASDAQ:CART - Get Free Report) last announced its quarterly earnings data 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 for the quarter, compared to analysts' expectations of $896.86 million. Maplebear had a net margin of 12.45% and a return on equity of 14.12%. The firm's quarterly revenue was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.43 EPS. On average, analysts expect that Maplebear Inc. will post 1.43 EPS for the current fiscal year.
About Maplebear
(
Free Report)
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.
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