Wealth Enhancement Advisory Services LLC Takes Position in Maplebear Inc. (NASDAQ:CART)

Wealth Enhancement Advisory Services LLC purchased a new stake in Maplebear Inc. (NASDAQ:CART - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 74,510 shares of the company's stock, valued at approximately $3,086,000.

Several other large investors have also recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC raised its stake in shares of Maplebear by 212.1% in the fourth quarter. Janney Montgomery Scott LLC now owns 23,938 shares of the company's stock valued at $992,000 after acquiring an additional 16,267 shares during the last quarter. US Bancorp DE increased its holdings 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 purchasing an additional 2,387 shares in the last quarter. Commonwealth Equity Services LLC bought a new position in Maplebear in the 4th quarter valued at $234,000. PNC Financial Services Group Inc. raised its position in Maplebear by 243.3% in the 4th quarter. PNC Financial Services Group Inc. now owns 3,399 shares of the company's stock valued at $141,000 after purchasing an additional 2,409 shares during the last quarter. Finally, Jasper Ridge Partners L.P. boosted its stake in Maplebear by 33.4% in the fourth quarter. Jasper Ridge Partners L.P. now owns 75,986 shares of the company's stock worth $3,147,000 after purchasing an additional 19,019 shares in the last quarter. 63.09% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on CART shares. Bank of America raised their target price on Maplebear from $51.00 to $53.00 and gave the company a "neutral" rating in a research note on Tuesday, February 25th. Seaport Res Ptn upgraded shares of Maplebear to a "strong-buy" rating in a research report on Wednesday, February 12th. Jefferies Financial Group increased their price target on shares of Maplebear from $48.00 to $50.00 and gave the company a "hold" rating in a research note on Tuesday, May 27th. Wedbush reduced their price objective on Maplebear from $48.00 to $46.00 and set a "neutral" rating on the stock in a report on Wednesday, February 26th. Finally, Wall Street Zen cut Maplebear from a "buy" rating to a "hold" rating in a research note on Friday, May 30th. Thirteen research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $51.91.

Insider Activity at Maplebear

In related news, General Counsel Morgan Fong sold 5,249 shares of the business's 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 directly owns 484,292 shares of the company's stock, valued at approximately $20,616,310.44. The trade was a 1.07% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Fidji Simo sold 8,133 shares of the stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $41.60, for a total transaction of $338,332.80. Following the completion of the transaction, the chief executive officer now directly owns 1,646,426 shares in the company, valued at $68,491,321.60. The trade was a 0.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 15,415 shares of company stock valued at $643,103. 26.00% of the stock is owned by insiders.

Maplebear Stock Performance

NASDAQ CART traded down $0.57 during trading on Friday, hitting $45.67. The stock had a trading volume of 3,303,700 shares, compared to its average volume of 4,028,774. Maplebear Inc. has a 12 month low of $29.84 and a 12 month high of $53.44. The company's 50-day moving average price is $43.06 and its two-hundred day moving average price is $43.67. The company has a market capitalization of $11.99 billion, a PE ratio of 30.65, a P/E/G ratio of 1.19 and a beta of 1.19.

Maplebear (NASDAQ:CART - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The company reported $0.37 EPS for the quarter, missing analysts' consensus estimates of $0.38 by ($0.01). Maplebear had a return on equity of 13.78% and a net margin of 13.37%. The business had revenue of $897.00 million during the quarter, compared to the consensus estimate of $896.86 million. During the same period in the prior year, the firm earned $0.43 EPS. The business's revenue for the quarter was up 9.4% compared to the same quarter last year. As a group, equities analysts anticipate 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.