16,854 Shares in Maplebear Inc. (NASDAQ:CART) Purchased by Park Avenue Securities LLC

Park Avenue Securities LLC acquired a new stake in shares of Maplebear Inc. (NASDAQ:CART - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 16,854 shares of the company's stock, valued at approximately $672,000.

A number of other large investors have also bought and sold shares of CART. Wilmington Savings Fund Society FSB increased its stake 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. Allworth Financial LP increased its stake in Maplebear by 101.4% in the 4th quarter. Allworth Financial LP now owns 834 shares of the company's stock worth $37,000 after purchasing an additional 420 shares during the period. CIBC Asset Management Inc increased its stake in Maplebear by 5.4% in the 4th 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 period. Kornitzer Capital Management Inc. KS increased its stake in Maplebear by 19.5% in the 4th quarter. Kornitzer Capital Management Inc. KS now owns 245,000 shares of the company's stock worth $10,148,000 after purchasing an additional 40,000 shares during the period. Finally, Atria Wealth Solutions Inc. increased its stake in Maplebear by 10.8% in the 4th quarter. Atria Wealth Solutions Inc. now owns 17,765 shares of the company's stock worth $736,000 after purchasing an additional 1,738 shares during the period. 63.09% of the stock is owned by hedge funds and other institutional investors.

Maplebear Price Performance

Maplebear stock traded down $0.71 during mid-day trading on Friday, reaching $43.37. 3,407,036 shares of the stock traded hands, compared to its average volume of 4,017,133. The stock has a market capitalization of $11.39 billion, a PE ratio of 29.11, a price-to-earnings-growth ratio of 1.19 and a beta of 1.30. Maplebear Inc. has a 12-month low of $29.84 and a 12-month high of $53.44. The business's 50-day moving average is $43.76 and its 200-day moving average is $43.73.

Maplebear (NASDAQ:CART - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The company reported $0.37 EPS for the quarter, missing analysts' consensus estimates of $0.38 by ($0.01). The firm had revenue of $897.00 million for the quarter, compared to analysts' expectations of $896.86 million. Maplebear had a net margin of 13.37% and a return on equity of 13.78%. The firm's revenue was up 9.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.43 EPS. Equities analysts anticipate that Maplebear Inc. will post 1.43 EPS for the current fiscal year.

Insider Activity at Maplebear

In other Maplebear news, Director Levien Meredith A. Kopit sold 4,225 shares of the company's stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $47.45, for a total value of $200,476.25. Following the completion of the sale, the director now owns 20,829 shares in the company, valued at $988,336.05. This represents a 16.86% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Fidji Simo sold 8,133 shares of the company's stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $41.60, for a total value of $338,332.80. Following the completion of the sale, the chief executive officer now owns 1,646,426 shares of the company's stock, valued at approximately $68,491,321.60. The trade was a 0.49% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 19,640 shares of company stock worth $843,579. 26.00% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have commented on CART shares. Stifel Nicolaus decreased their price target on Maplebear from $57.00 to $54.00 and set a "buy" rating on the stock in a research note on Wednesday, April 23rd. Oppenheimer dropped their price target on Maplebear from $65.00 to $60.00 and set an "outperform" rating on the stock in a research report on Wednesday, February 26th. Bank of America lifted their price target on Maplebear from $51.00 to $53.00 and gave the company a "neutral" rating in a research report on Tuesday, February 25th. BMO Capital Markets lifted their price target on Maplebear from $48.00 to $49.00 and gave the company a "market perform" rating in a research report on Wednesday, February 26th. Finally, Morgan Stanley lifted their price target on Maplebear from $44.00 to $45.00 and gave the company an "equal weight" rating in a research report on Wednesday, February 26th. Thirteen investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price 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.