Maplebear Inc. $CART Shares Bought by NBC Securities Inc.

Key Points

• NBC Securities Inc. increased its stake in Maplebear Inc. (NASDAQ:CART) by 126.8% in the second quarter, owning 21,550 shares valued at $974,000 after acquiring an additional 12,050 shares.
• Various hedge funds recently acquired new positions in Maplebear, with institutional investors collectively owning 63.09% of the company's stock.
• Wall Street analysts have mixed ratings for Maplebear, with one Strong Buy, sixteen Buy, eight Hold, and one Sell, while the average price target is $55.58.

NBC Securities Inc. boosted its stake in shares of Maplebear Inc. (NASDAQ:CART - Free Report) by 126.8% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 21,550 shares of the company's stock after buying an additional 12,050 shares during the period. NBC Securities Inc.'s holdings in Maplebear were worth $974,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Proathlete Wealth Management LLC bought a new position in shares of Maplebear during the 1st quarter worth approximately $26,000. Brooklyn Investment Group bought a new position in shares of Maplebear during the 1st quarter worth approximately $40,000. UMB Bank n.a. grew its stake in shares of Maplebear by 914.1% in the first quarter. UMB Bank n.a. now owns 1,004 shares of the company's stock valued at $40,000 after buying an additional 905 shares in the last quarter. Spire Wealth Management bought a new position in shares of Maplebear in the first quarter valued at $41,000. Finally, CWM LLC grew its stake in shares of Maplebear by 35.1% in the first quarter. CWM LLC now owns 1,058 shares of the company's stock valued at $42,000 after buying an additional 275 shares in the last quarter. 63.09% of the stock is owned by institutional investors.

Maplebear Price Performance

CART stock traded down $3.90 during midday trading on Friday, hitting $41.50. The stock had a trading volume of 17,155,400 shares, compared to its average volume of 3,910,375. The firm has a market cap of $10.93 billion, a price-to-earnings ratio of 23.99, a price-to-earnings-growth ratio of 1.39 and a beta of 1.21. The business has a 50-day moving average of $46.46 and a two-hundred day moving average of $44.21. Maplebear Inc. has a 52-week low of $35.14 and a 52-week high of $53.50.

Maplebear (NASDAQ:CART - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The company reported $0.41 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.39 by $0.02. Maplebear had a return on equity of 15.69% and a net margin of 13.76%.The firm had revenue of $914.00 million for the quarter, compared to the consensus estimate of $896.55 million. During the same period in the prior year, the company posted $0.20 earnings per share. The company's quarterly revenue was up 11.1% on a year-over-year basis. Research analysts predict that Maplebear Inc. will post 1.43 earnings per share for the current year.

Analyst Ratings Changes

CART has been the subject of several analyst reports. Barclays raised their target price on shares of Maplebear from $61.00 to $65.00 and gave the company an "overweight" rating in a research note on Friday, August 8th. Jefferies Financial Group lifted their price objective on shares of Maplebear from $50.00 to $55.00 and gave the stock a "hold" rating in a research report on Monday, August 11th. Needham & Company LLC lifted their target price on Maplebear from $56.00 to $66.00 and gave the stock a "buy" rating in a report on Friday, August 8th. Stifel Nicolaus lifted their target price on Maplebear from $55.00 to $64.00 and gave the stock a "buy" rating in a report on Friday, August 8th. Finally, Citigroup boosted their price target on Maplebear from $57.00 to $65.00 and gave the company a "buy" rating in a research note on Friday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Maplebear has a consensus rating of "Moderate Buy" and a consensus price target of $55.58.

Insider Transactions at Maplebear

In other news, General Counsel Morgan Fong sold 4,680 shares of Maplebear stock in a transaction that occurred on Monday, July 21st. The stock was sold at an average price of $49.16, for a total value 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Daniel Danker sold 10,037 shares of the firm's stock in a transaction that occurred on Friday, July 18th. The stock was sold at an average price of $48.82, for a total value of $490,006.34. Following the sale, the insider directly owned 470,190 shares of the company's stock, valued at $22,954,675.80. This represents a 2.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 4,973,562 shares of company stock worth $237,668,642. 26.00% of the stock is owned by corporate insiders.

About Maplebear

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.