PharVision Advisers LLC Invests $232,000 in Maplebear Inc. (NASDAQ:CART)

PharVision Advisers LLC purchased a new position in Maplebear Inc. (NASDAQ:CART - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 5,611 shares of the company's stock, valued at approximately $232,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Janney Montgomery Scott LLC raised its stake in Maplebear by 212.1% during the 4th quarter. Janney Montgomery Scott LLC now owns 23,938 shares of the company's stock valued at $992,000 after buying an additional 16,267 shares during the last quarter. Cherry Creek Investment Advisors Inc. purchased a new stake in Maplebear during the 4th quarter valued at $235,000. US Bancorp DE raised its stake in Maplebear by 22.3% during the 4th quarter. US Bancorp DE now owns 13,077 shares of the company's stock valued at $542,000 after buying an additional 2,387 shares during the last quarter. Commonwealth Equity Services LLC purchased a new stake in Maplebear during the 4th quarter valued at $234,000. Finally, PNC Financial Services Group Inc. raised its stake in Maplebear by 243.3% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,399 shares of the company's stock valued at $141,000 after buying an additional 2,409 shares during the last quarter. 63.09% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently commented on CART. Oppenheimer reduced their price objective on Maplebear from $65.00 to $60.00 and set an "outperform" rating for the company in a research note on Wednesday, February 26th. Loop Capital raised their price objective on Maplebear from $52.00 to $58.00 and gave the company a "buy" rating in a research report on Monday. Cantor Fitzgerald restated an "overweight" rating and set a $55.00 price objective on shares of Maplebear in a research report on Wednesday, February 26th. Macquarie reiterated an "outperform" rating and issued a $55.00 price target on shares of Maplebear in a research report on Tuesday, May 6th. Finally, FBN Securities began coverage on Maplebear in a research report on Friday, March 28th. They issued a "sector perform" rating and a $44.00 price target for the company. Twelve equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $51.30.

Insider Activity

In other Maplebear news, CEO Fidji Simo sold 20,750 shares of Maplebear stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $43.31, for a total value of $898,682.50. Following the transaction, the chief executive officer now owns 1,662,692 shares in the company, valued at approximately $72,011,190.52. The trade was a 1.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, General Counsel Morgan Fong sold 5,249 shares of Maplebear stock in a transaction that occurred on Monday, April 21st. The stock was sold at an average price of $42.57, for a total transaction of $223,449.93. Following the transaction, the general counsel now owns 484,292 shares in the company, valued at approximately $20,616,310.44. The trade was a 1.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 36,165 shares of company stock valued at $1,541,785. Insiders own 26.00% of the company's stock.

Maplebear Stock Up 0.3%

Shares of Maplebear stock opened at $47.03 on Friday. The firm has a market cap of $12.35 billion, a PE ratio of 31.56, a P/E/G ratio of 1.19 and a beta of 1.19. The business's fifty day moving average is $41.79 and its two-hundred day moving average is $43.60. Maplebear Inc. has a fifty-two week low of $29.84 and a fifty-two week high of $53.44.

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

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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