Sigma Planning Corp Invests $598,000 in Maplebear Inc. (NASDAQ:CART)

Sigma Planning Corp bought a new position in shares of Maplebear Inc. (NASDAQ:CART - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 15,000 shares of the company's stock, valued at approximately $598,000.

Other institutional investors have also recently bought and sold shares of the company. CWM LLC raised its stake in shares of Maplebear by 35.1% in the 1st quarter. CWM LLC now owns 1,058 shares of the company's stock valued at $42,000 after acquiring an additional 275 shares in the last quarter. Signaturefd LLC boosted its stake in Maplebear by 27.1% in the first quarter. Signaturefd LLC now owns 1,335 shares of the company's stock worth $53,000 after purchasing an additional 285 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in Maplebear by 18.6% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,056 shares of the company's stock valued at $82,000 after buying an additional 322 shares during the period. Wealth Enhancement Advisory Services LLC lifted its stake in Maplebear by 0.5% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 74,846 shares of the company's stock valued at $2,986,000 after buying an additional 336 shares during the period. Finally, Cambridge Investment Research Advisors Inc. grew its holdings in shares of Maplebear by 7.6% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 6,166 shares of the company's stock worth $246,000 after buying an additional 433 shares in the last quarter. Hedge funds and other institutional investors own 63.09% of the company's stock.

Maplebear Stock Performance

Shares of NASDAQ CART traded up $0.74 during mid-day trading on Friday, reaching $49.11. The company had a trading volume of 3,356,560 shares, compared to its average volume of 3,963,298. The company has a market capitalization of $12.89 billion, a price-to-earnings ratio of 32.31, a PEG ratio of 2.07 and a beta of 1.21. The stock has a fifty day moving average of $45.93 and a two-hundred day moving average of $44.32. Maplebear Inc. has a 12-month low of $29.84 and a 12-month 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 EPS for the quarter, missing the consensus estimate of $0.38 by ($0.01). The company had revenue of $897.00 million for the quarter, compared to analyst estimates of $896.86 million. Maplebear had a net margin of 12.45% and a return on equity of 14.12%. The company's revenue for the quarter was up 9.4% on a year-over-year basis. During the same quarter last year, the business earned $0.43 EPS. Sell-side analysts forecast that Maplebear Inc. will post 1.43 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on CART. Macquarie reissued an "outperform" rating and set a $55.00 price objective on shares of Maplebear in a report on Tuesday, May 6th. Needham & Company LLC reiterated a "buy" rating and set a $56.00 target price on shares of Maplebear in a research note on Friday, May 2nd. Stifel Nicolaus dropped their price objective on shares of Maplebear from $57.00 to $54.00 and set a "buy" rating for the company in a report on Wednesday, April 23rd. FBN Securities assumed coverage on shares of Maplebear in a research note on Friday, March 28th. They issued a "sector perform" rating and a $44.00 price objective for the company. Finally, JPMorgan Chase & Co. cut their price objective on shares of Maplebear from $50.00 to $44.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. Eleven equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $51.95.

Insider Buying and Selling at Maplebear

In related news, Director Levien Meredith A. Kopit sold 4,225 shares of Maplebear 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 directly owned 20,829 shares in the company, valued at $988,336.05. This trade represents a 16.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Fidji Simo sold 14,233 shares of the business's stock in a transaction dated Monday, July 14th. The stock was sold at an average price of $47.86, for a total value of $681,191.38. Following the transaction, the chief executive officer owned 2,032,005 shares of the company's stock, valued at $97,251,759.30. The trade was a 0.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 28,387 shares of company stock valued at $1,310,570. 26.00% of the stock is currently owned by company insiders.

About Maplebear

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.