New Age Alpha Advisors LLC Has $6.59 Million Stock Position in Maplebear Inc. $CART

Key Points

• New Age Alpha Advisors LLC increased its Maplebear stake by 89.1% in the fourth quarter, ending with 146,599 shares valued at about $6.59 million.
• Wall Street sentiment on Maplebear remains generally positive, with an average “Moderate Buy” rating and a consensus price target of $51.09. Barclays recently raised its target to $69, while Needham reiterated a buy rating.
• Maplebear reported quarterly revenue of $1.02 billion, up 13.6% year over year, though EPS of $0.57 slightly missed estimates. Shares were trading at $41.22 and insiders sold a combined 144,863 shares over the last quarter.

New Age Alpha Advisors LLC increased its position in Maplebear Inc. (NASDAQ:CART - Free Report) by 89.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 146,599 shares of the company's stock after purchasing an additional 69,066 shares during the quarter. New Age Alpha Advisors LLC owned approximately 0.06% of Maplebear worth $6,594,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Hantz Financial Services Inc. grew its position in shares of Maplebear by 78.6% during the 3rd quarter. Hantz Financial Services Inc. now owns 884 shares of the company's stock worth $32,000 after buying an additional 389 shares during the period. Allworth Financial LP grew its position in shares of Maplebear by 35.7% during the 3rd quarter. Allworth Financial LP now owns 928 shares of the company's stock worth $34,000 after buying an additional 244 shares during the period. Abich Financial Wealth Management LLC acquired a new position in shares of Maplebear during the 3rd quarter worth about $43,000. IFP Advisors Inc grew its position in shares of Maplebear by 761.3% during the 4th quarter. IFP Advisors Inc now owns 956 shares of the company's stock worth $43,000 after buying an additional 845 shares during the period. Finally, Sunbelt Securities Inc. grew its position in shares of Maplebear by 212.7% during the 3rd quarter. Sunbelt Securities Inc. now owns 1,157 shares of the company's stock worth $43,000 after buying an additional 787 shares during the period. 63.09% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CART has been the subject of several analyst reports. Barclays boosted their target price on Maplebear from $65.00 to $69.00 and gave the stock an "overweight" rating in a research report on Thursday, May 7th. Needham & Company LLC restated a "buy" rating and set a $55.00 target price on shares of Maplebear in a research report on Thursday, May 7th. Weiss Ratings upgraded Maplebear from a "hold (c-)" rating to a "hold (c)" rating in a research report on Monday, May 11th. Stifel Nicolaus decreased their target price on Maplebear from $49.00 to $46.00 and set a "buy" rating for the company in a research report on Tuesday, January 27th. Finally, Benchmark decreased their target price on Maplebear from $60.00 to $53.00 and set a "buy" rating for the company in a research report on Tuesday, February 10th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, Maplebear has an average rating of "Moderate Buy" and a consensus target price of $51.09.

Maplebear Stock Performance

Shares of CART opened at $41.22 on Monday. The stock has a 50 day simple moving average of $39.85 and a 200 day simple moving average of $40.05. Maplebear Inc. has a 52-week low of $32.73 and a 52-week high of $53.50. The firm has a market capitalization of $9.69 billion, a PE ratio of 23.03, a P/E/G ratio of 0.57 and a beta of 0.96.

Maplebear (NASDAQ:CART - Get Free Report) last issued its quarterly earnings data on Wednesday, May 6th. The company reported $0.57 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.58 by ($0.01). Maplebear had a net margin of 12.50% and a return on equity of 18.67%. The business had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.01 billion. During the same quarter in the prior year, the firm posted $0.37 earnings per share. Maplebear's revenue for the quarter was up 13.6% compared to the same quarter last year. Equities research analysts predict that Maplebear Inc. will post 2.43 EPS for the current fiscal year.

Insider Activity at Maplebear

In related news, CAO Lisa Blackwood-Kapral sold 9,390 shares of the business's stock in a transaction that occurred on Wednesday, April 15th. The stock was sold at an average price of $40.25, for a total value of $377,947.50. Following the completion of the transaction, the chief accounting officer directly owned 58,971 shares in the company, valued at approximately $2,373,582.75. The trade was a 13.74% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Morgan Fong sold 126,083 shares of the business's stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $37.09, for a total value of $4,676,418.47. Following the completion of the transaction, the general counsel owned 386,643 shares of the company's stock, valued at $14,340,588.87. This represents a 24.59% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 144,863 shares of company stock valued at $5,418,135 over the last quarter. 24.00% of the stock is owned by insiders.

Maplebear Profile

Maplebear, Inc, doing business as Instacart, operates a leading online grocery and essentials marketplace that connects consumers, retail partners and personal shoppers through its digital platform. The company enables customers to order groceries, household items and specialty products for same-day or scheduled delivery, as well as in-store pickup. By integrating its technology with retailers' existing inventory and point-of-sale systems, Maplebear streamlines the shopping experience and provides real-time availability and pricing.

Founded in 2012 and headquartered in San Francisco, Maplebear has grown from a regional startup to a publicly traded company listed on NASDAQ under the ticker CART.

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