Yousif Capital Management LLC Buys Shares of 55,395 Maplebear Inc. (NASDAQ:CART)

Yousif Capital Management LLC purchased a new position in shares of Maplebear Inc. (NASDAQ:CART - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 55,395 shares of the company's stock, valued at approximately $2,210,000.

Other institutional investors also recently made changes to their positions in the company. Jones Financial Companies Lllp lifted its stake in shares of Maplebear by 46.6% during the fourth quarter. Jones Financial Companies Lllp now owns 698 shares of the company's stock valued at $29,000 after buying an additional 222 shares during the period. Allworth Financial LP lifted its stake in shares of Maplebear by 101.4% during the 4th quarter. Allworth Financial LP now owns 834 shares of the company's stock worth $37,000 after purchasing an additional 420 shares during the period. CIBC Asset Management Inc boosted its holdings in shares of Maplebear by 5.4% during the fourth quarter. CIBC Asset Management Inc now owns 8,554 shares of the company's stock worth $354,000 after purchasing an additional 440 shares during the last quarter. WCG Wealth Advisors LLC boosted its holdings in shares of Maplebear by 3.3% during the fourth quarter. WCG Wealth Advisors LLC now owns 14,256 shares of the company's stock worth $590,000 after purchasing an additional 451 shares during the last quarter. Finally, Arkfeld Wealth Strategies L.L.C. grew its position in shares of Maplebear by 2.5% in the first quarter. Arkfeld Wealth Strategies L.L.C. now owns 19,098 shares of the company's stock valued at $746,000 after purchasing an additional 470 shares during the period. 63.09% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Maplebear

In other 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 value of $223,449.93. Following the completion of the sale, the general counsel now directly owns 484,292 shares in the company, valued at approximately $20,616,310.44. The trade was a 1.07% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Levien Meredith A. Kopit sold 4,225 shares of the firm's stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $47.45, for a total value of $200,476.25. Following the transaction, the director now owns 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 disclosure for this sale can be found here. Insiders have sold 17,607 shares of company stock worth $762,259 in the last ninety days. 26.00% of the stock is owned by insiders.

Maplebear Price Performance

NASDAQ:CART opened at $43.37 on Monday. The firm has a 50-day moving average of $43.76 and a two-hundred day moving average of $43.74. The stock has a market cap of $11.39 billion, a P/E ratio of 29.11, a PEG ratio of 1.19 and a beta of 1.30. Maplebear Inc. has a 1-year low of $29.84 and a 1-year high of $53.44.

Maplebear (NASDAQ:CART - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The company reported $0.37 earnings per share for the quarter, missing analysts' consensus estimates of $0.38 by ($0.01). Maplebear had a net margin of 13.37% and a return on equity of 13.78%. The business had revenue of $897.00 million for the quarter, compared to analyst estimates of $896.86 million. During the same quarter last year, the business earned $0.43 EPS. Maplebear's revenue for the quarter was up 9.4% compared to the same quarter last year. As a group, equities analysts expect that Maplebear Inc. will post 1.43 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on CART. Wells Fargo & Company reduced their target price on Maplebear from $47.00 to $44.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 3rd. Loop Capital boosted their target price on shares of Maplebear from $52.00 to $58.00 and gave the company a "buy" rating in a report on Monday, May 19th. Needham & Company LLC reaffirmed a "buy" rating and set a $56.00 price target on shares of Maplebear in a research report on Friday, May 2nd. Benchmark reiterated a "hold" rating on shares of Maplebear in a report on Wednesday, February 26th. Finally, Barclays boosted their price objective on shares of Maplebear from $58.00 to $61.00 and gave the company an "overweight" rating in a research note on Friday, May 2nd. Thirteen investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $51.91.

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.

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