Scott & Selber Inc. Acquires New Shares in Maplebear Inc. $CART

Key Points

• Scott & Selber Inc. has acquired 54,881 shares of Maplebear Inc. (NASDAQ:CART), valued at approximately $2.48 million, indicating growing interest in the stock among institutional investors.
• Several analysts have revised their target prices for Maplebear, with Barclays raising their target from $61.00 to $65.00 and maintaining an "overweight" rating.
• Maplebear reported earnings of $0.41 per share, surpassing expectations, with a revenue of $914 million for the quarter, reflecting an 11.1% increase year-over-year.

Scott & Selber Inc. bought a new position in shares of Maplebear Inc. (NASDAQ:CART - Free Report) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 54,881 shares of the company's stock, valued at approximately $2,483,000.

Other hedge funds have also recently modified their holdings of the company. Proathlete Wealth Management LLC purchased a new position in Maplebear during the first quarter valued at approximately $26,000. UMB Bank n.a. boosted its position in 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 in the last quarter. Brooklyn Investment Group purchased a new position in shares of Maplebear in the 1st quarter valued at $40,000. Spire Wealth Management bought a new position in shares of Maplebear in the 1st quarter worth $41,000. Finally, CWM LLC raised its position in shares of Maplebear by 35.1% in the 1st quarter. CWM LLC now owns 1,058 shares of the company's stock worth $42,000 after acquiring an additional 275 shares in the last quarter. Hedge funds and other institutional investors own 63.09% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on CART. Barclays lifted their target price on Maplebear from $61.00 to $65.00 and gave the company an "overweight" rating in a research note on Friday, August 8th. Wall Street Zen cut shares of Maplebear from a "buy" rating to a "hold" rating in a report on Monday. Stifel Nicolaus reduced their price objective on shares of Maplebear from $64.00 to $56.00 and set a "buy" rating for the company in a research note on Wednesday, September 24th. Jefferies Financial Group increased their target price on shares of Maplebear from $50.00 to $55.00 and gave the company a "hold" rating in a research report on Monday, August 11th. Finally, Wells Fargo & Company raised their target price on shares of Maplebear from $55.00 to $57.00 and gave the company an "equal weight" rating in a research note on Friday, September 5th. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $55.25.

Insider Transactions at Maplebear

In related news, CEO Fidji Simo sold 66,560 shares of the firm's stock in a transaction on 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 completion of the transaction, the chief executive officer owned 1,965,445 shares in the company, valued at $98,291,904.45. This trade represents a 3.28% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Chris Rogers sold 9,259 shares of Maplebear stock in a transaction dated Monday, September 22nd. The stock was sold at an average price of $42.37, for a total value of $392,303.83. Following the sale, the chief executive officer directly owned 739,880 shares of the company's stock, valued at approximately $31,348,715.60. This represents a 1.24% decrease in their position. The disclosure for this sale can be found here. Insiders sold 4,986,367 shares of company stock worth $238,211,261 over the last 90 days. Insiders own 26.00% of the company's stock.

Maplebear Stock Down 0.2%

Shares of Maplebear stock opened at $42.32 on Monday. The company has a 50 day moving average price of $45.85 and a 200 day moving average price of $44.39. The firm has a market capitalization of $11.15 billion, a P/E ratio of 24.46, a PEG ratio of 1.42 and a beta of 1.22. Maplebear Inc. has a 52 week low of $35.14 and a 52 week high of $53.50.

Maplebear (NASDAQ:CART - Get Free Report) last released its earnings results on Thursday, August 7th. The company reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.02. The company had revenue of $914.00 million for the quarter, compared to the consensus estimate of $896.55 million. Maplebear had a net margin of 13.76% and a return on equity of 15.69%. Maplebear's revenue was up 11.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.20 EPS. As a group, research analysts anticipate that Maplebear Inc. will post 1.43 earnings per share for the current fiscal year.

Maplebear 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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