TD Asset Management Inc Has $19.62 Million Holdings in Maplebear Inc. $CART

Key Points

• TD Asset Management Inc increased its stake in Maplebear Inc. by 7.2%, owning approximately $19.62 million in shares after acquiring an additional 29,000 shares in the latest quarter.
• CEO Chris Rogers sold 9,259 shares of Maplebear for over $392,000, resulting in a 1.24% decrease in his ownership, while insiders collectively sold almost 5 million shares valued at $237 million in the last 90 days.
• Analysts have mixed ratings on Maplebear, with a recent report lowering the price target from $60.00 to $50.00, while other firms set varied targets and ratings, highlighting an average price target of $52.40.

TD Asset Management Inc increased its position in Maplebear Inc. (NASDAQ:CART - Free Report) by 7.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 433,600 shares of the company's stock after acquiring an additional 29,000 shares during the quarter. TD Asset Management Inc owned about 0.17% of Maplebear worth $19,616,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. Proathlete Wealth Management LLC acquired a new stake in shares of Maplebear in the first quarter valued at about $26,000. Brooklyn Investment Group acquired a new stake in Maplebear in the 1st quarter valued at approximately $40,000. Spire Wealth Management bought a new position in Maplebear in the 1st quarter worth approximately $41,000. CWM LLC lifted its holdings in shares of Maplebear by 35.1% during the first quarter. CWM LLC now owns 1,058 shares of the company's stock worth $42,000 after buying an additional 275 shares during the last quarter. Finally, Golden State Wealth Management LLC boosted its position in shares of Maplebear by 100.0% in the first quarter. Golden State Wealth Management LLC now owns 1,066 shares of the company's stock valued at $43,000 after acquiring an additional 533 shares during the period. 63.09% of the stock is currently owned by institutional investors.

Insider Transactions at Maplebear

In other Maplebear news, CEO Chris Rogers sold 9,259 shares of the business's stock in a transaction dated Monday, September 22nd. The stock was sold at an average price of $42.37, for a total transaction of $392,303.83. Following the completion of the sale, the chief executive officer directly owned 739,880 shares of the company's stock, valued at approximately $31,348,715.60. The trade was a 1.24% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Fidji Simo sold 1,014 shares of the firm's stock in a transaction dated Thursday, October 16th. The shares were sold at an average price of $40.00, for a total transaction of $40,560.00. Following the completion of the transaction, the director directly owned 569,742 shares in the company, valued at $22,789,680. This trade represents a 0.18% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 4,966,162 shares of company stock worth $237,201,443. Insiders own 26.00% of the company's stock.

Analyst Ratings Changes

Several research firms have recently issued reports on CART. Robert W. Baird dropped their price objective on shares of Maplebear from $60.00 to $50.00 and set an "outperform" rating on the stock in a report on Wednesday, October 1st. Guggenheim began coverage on Maplebear in a research note on Wednesday. They set a "neutral" rating and a $40.00 price objective for the company. BTIG Research reiterated a "neutral" rating and set a $55.00 target price on shares of Maplebear in a research report on Tuesday, September 30th. Weiss Ratings reissued a "hold (c+)" rating on shares of Maplebear in a report on Tuesday. Finally, Citigroup upped their price objective on shares of Maplebear from $57.00 to $65.00 and gave the stock a "buy" rating in a research note on Friday, August 8th. Two analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $52.40.

Maplebear Trading Down 1.3%

Shares of CART stock opened at $38.49 on Friday. Maplebear Inc. has a 1 year low of $34.87 and a 1 year high of $53.50. The firm's 50 day moving average is $42.87 and its 200-day moving average is $44.18. The firm has a market capitalization of $10.14 billion, a price-to-earnings ratio of 22.25, a PEG ratio of 1.20 and a beta of 1.10.

Maplebear (NASDAQ:CART - Get Free Report) last posted its quarterly earnings data 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. Maplebear had a net margin of 13.76% and a return on equity of 15.69%. The firm had revenue of $914.00 million during the quarter, compared to analysts' expectations of $896.55 million. During the same quarter in the previous year, the company posted $0.20 EPS. Maplebear's revenue was up 11.1% on a year-over-year basis. On average, equities research analysts forecast that Maplebear Inc. will post 1.43 earnings per share for the current fiscal year.

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.

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