Roberts Capital Advisors LLC Takes $558,000 Position in Maplebear Inc. (NASDAQ:CART)

Key Points

• Roberts Capital Advisors LLC has acquired a new position in Maplebear Inc., investing approximately $558,000 to purchase 13,996 shares in the first quarter of the year.
• Maplebear reported earnings per share of $0.41 for the last quarter, exceeding analysts' expectations, with revenue increasing by 11.1% year-over-year.
• Insider transactions indicate significant selling activity, with insiders, including CEO Fidji Simo, selling over 4.9 million shares valued at $237 million in the last ninety days.

Roberts Capital Advisors LLC bought a new position in shares of Maplebear Inc. (NASDAQ:CART - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund bought 13,996 shares of the company's stock, valued at approximately $558,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Alliance Wealth Advisors LLC UT acquired a new position in shares of Maplebear during the 1st quarter worth about $572,000. Twin Focus Capital Partners LLC acquired a new stake in shares of Maplebear in the 1st quarter valued at about $626,000. American Century Companies Inc. boosted its position in shares of Maplebear by 249.1% in the 1st quarter. American Century Companies Inc. now owns 668,574 shares of the company's stock valued at $26,669,000 after purchasing an additional 477,046 shares during the period. Ethic Inc. boosted its position in shares of Maplebear by 21.3% in the 1st quarter. Ethic Inc. now owns 31,721 shares of the company's stock valued at $1,276,000 after purchasing an additional 5,570 shares during the period. Finally, Marathon Trading Investment Management LLC boosted its position in shares of Maplebear by 163.2% in the 1st quarter. Marathon Trading Investment Management LLC now owns 25,000 shares of the company's stock valued at $997,000 after purchasing an additional 15,500 shares during the period. 63.09% of the stock is owned by institutional investors and hedge funds.

Maplebear Trading Up 0.1%

Shares of Maplebear stock opened at $43.92 on Friday. Maplebear Inc. has a twelve month low of $31.92 and a twelve month high of $53.50. The stock has a market capitalization of $11.57 billion, a P/E ratio of 25.39, a PEG ratio of 1.46 and a beta of 1.21. The business's fifty day moving average price is $46.80 and its 200 day moving average price is $44.74.

Maplebear (NASDAQ:CART - Get Free Report) last issued its earnings results on Thursday, August 7th. The company reported $0.41 earnings per share 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 analysts' expectations of $896.55 million. During the same quarter last year, the firm earned $0.20 earnings per share. The firm's revenue for the quarter was up 11.1% compared to the same quarter last year. As a group, sell-side analysts predict that Maplebear Inc. will post 1.43 EPS for the current year.

Insider Buying and Selling

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

Wall Street Analyst Weigh In

Several research firms have commented on CART. Jefferies Financial Group upped their price objective on Maplebear from $50.00 to $55.00 and gave the company a "hold" rating in a research note on Monday, August 11th. Loop Capital increased their target price on Maplebear from $52.00 to $58.00 and gave the stock a "buy" rating in a research note on Monday, May 19th. Stifel Nicolaus increased their target price on Maplebear from $55.00 to $64.00 and gave the stock a "buy" rating in a research note on Friday, August 8th. Robert W. Baird raised their price objective on Maplebear from $47.00 to $52.00 and gave the company an "outperform" rating in a research note on Thursday, July 17th. Finally, Needham & Company LLC raised their price objective on Maplebear from $56.00 to $66.00 and gave the company a "buy" rating in a research note on Friday, August 8th. Nine research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $55.46.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.