Northern Trust Corp Has $52.74 Million Stock Holdings in Maplebear Inc. $CART

Key Points

• Northern Trust Corp increased its holdings in Maplebear Inc. by 68.2%, now owning 1,322,190 shares valued at $52.74 million.
• Wall Street analysts have a generally positive outlook on Maplebear, with a consensus target price of $55.63 and multiple analysts providing "buy" ratings.
• Maplebear recently reported a quarterly earnings beat with an EPS of $0.41, exceeding estimates and showing a 11.1% revenue increase year-over-year.

Northern Trust Corp boosted its position in shares of Maplebear Inc. (NASDAQ:CART - Free Report) by 68.2% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,322,190 shares of the company's stock after buying an additional 535,894 shares during the quarter. Northern Trust Corp owned approximately 0.50% of Maplebear worth $52,742,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of CART. Proathlete Wealth Management LLC bought a new stake in shares of Maplebear during the 1st quarter valued at $26,000. NewEdge Advisors LLC raised its position in shares of Maplebear by 277.9% during the 4th quarter. NewEdge Advisors LLC now owns 975 shares of the company's stock valued at $40,000 after acquiring an additional 717 shares during the last quarter. UMB Bank n.a. raised its position in shares of Maplebear by 914.1% during the 1st quarter. UMB Bank n.a. now owns 1,004 shares of the company's stock valued at $40,000 after acquiring an additional 905 shares during the last quarter. Brooklyn Investment Group bought a new stake in shares of Maplebear during the 1st quarter valued at $40,000. Finally, Spire Wealth Management bought a new stake in shares of Maplebear during the 1st quarter valued at $41,000. Institutional investors and hedge funds own 63.09% of the company's stock.

Wall Street Analysts Forecast Growth

CART has been the subject of several recent research reports. Stifel Nicolaus upped their target price on shares of Maplebear from $55.00 to $64.00 and gave the company a "buy" rating in a research report on Friday, August 8th. Sanford C. Bernstein upped their target price on shares of Maplebear from $55.00 to $60.00 and gave the company an "outperform" rating in a research report on Monday, July 21st. Robert W. Baird dropped their target price on shares of Maplebear from $65.00 to $60.00 and set an "outperform" rating for the company in a research report on Friday, August 22nd. Wells Fargo & Company upped their target price on shares of Maplebear from $47.00 to $55.00 and gave the company an "equal weight" rating in a research report on Friday, August 8th. Finally, Loop Capital upped their price objective on shares of Maplebear from $52.00 to $58.00 and gave the company a "buy" rating in a research report on Monday, May 19th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $55.63.

Maplebear Stock Up 0.5%

CART opened at $42.97 on Wednesday. Maplebear Inc. has a 12 month low of $33.17 and a 12 month high of $53.50. The company has a fifty day simple moving average of $46.85 and a 200 day simple moving average of $44.51. The stock has a market cap of $11.32 billion, a P/E ratio of 24.84, a P/E/G ratio of 1.43 and a beta of 1.21.

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

Insider Activity

In other Maplebear news, insider Daniel Danker sold 10,037 shares of the stock in a transaction dated Friday, July 18th. The stock was sold at an average price of $48.82, for a total transaction of $490,006.34. Following the completion of the transaction, the insider owned 470,190 shares in the company, valued at approximately $22,954,675.80. This represents a 2.09% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Fidji Simo sold 66,560 shares of the stock in a transaction dated Tuesday, July 22nd. The stock was sold at an average price of $50.01, for a total value of $3,328,665.60. Following the transaction, the chief executive officer owned 1,965,445 shares of the company's stock, valued at approximately $98,291,904.45. This trade represents a 3.28% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 4,975,327 shares of company stock worth $237,736,848. 26.00% of the stock is currently owned by insiders.

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.

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