First Trust Advisors LP Raises Stake in Maplebear Inc. (NASDAQ:CART)

First Trust Advisors LP increased its position in Maplebear Inc. (NASDAQ:CART - Free Report) by 110.9% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 303,914 shares of the company's stock after buying an additional 159,829 shares during the period. First Trust Advisors LP owned about 0.12% of Maplebear worth $12,588,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in CART. Jones Financial Companies Lllp increased its holdings in Maplebear by 46.6% in the 4th quarter. Jones Financial Companies Lllp now owns 698 shares of the company's stock valued at $29,000 after acquiring an additional 222 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new position in shares of Maplebear during the 3rd quarter worth about $33,000. Allworth Financial LP boosted its position in shares of Maplebear by 101.4% during the fourth quarter. Allworth Financial LP now owns 834 shares of the company's stock valued at $37,000 after buying an additional 420 shares during the period. NewEdge Advisors LLC grew its position in Maplebear by 277.9% in the 4th quarter. NewEdge Advisors LLC now owns 975 shares of the company's stock valued at $40,000 after acquiring an additional 717 shares during the last quarter. Finally, Cullen Frost Bankers Inc. bought a new position in shares of Maplebear in the fourth quarter worth about $62,000. Hedge funds and other institutional investors own 63.09% of the company's stock.

Analysts Set New Price Targets

Several research analysts have commented on CART shares. Loop Capital reduced their price objective on Maplebear from $56.00 to $52.00 and set a "buy" rating on the stock in a report on Thursday, March 6th. BMO Capital Markets raised their target price on shares of Maplebear from $48.00 to $49.00 and gave the company a "market perform" rating in a research note on Wednesday, February 26th. Benchmark restated a "hold" rating on shares of Maplebear in a research note on Wednesday, February 26th. Wells Fargo & Company reduced their target price on Maplebear from $47.00 to $44.00 and set an "equal weight" rating for the company in a research note on Thursday, April 3rd. Finally, Barclays boosted their price objective on Maplebear from $56.00 to $58.00 and gave the company an "overweight" rating in a report on Wednesday, February 26th. Twelve investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $50.48.

Insider Activity at Maplebear

In other news, CEO Fidji Simo sold 20,750 shares of the firm's stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $43.31, for a total transaction of $898,682.50. Following the sale, the chief executive officer now owns 1,662,692 shares of the company's stock, valued at approximately $72,011,190.52. This trade represents a 1.23 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Morgan Fong sold 5,249 shares of Maplebear stock in a transaction 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 sale, the general counsel now owns 484,292 shares in the company, valued at $20,616,310.44. This represents a 1.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 36,165 shares of company stock worth $1,541,785. Company insiders own 26.00% of the company's stock.

Maplebear Stock Performance

Shares of Maplebear stock traded up $5.29 during trading hours on Friday, hitting $45.09. The company's stock had a trading volume of 5,410,808 shares, compared to its average volume of 4,082,422. The stock has a market cap of $11.84 billion, a price-to-earnings ratio of 30.29, a P/E/G ratio of 1.19 and a beta of 1.20. The firm has a fifty day moving average of $40.17 and a 200-day moving average of $43.44. Maplebear Inc. has a twelve month low of $29.84 and a twelve month high of $53.44.

Maplebear (NASDAQ:CART - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The company reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.01). The firm had revenue of $897.00 million during the quarter, compared to analysts' expectations of $896.86 million. Maplebear had a net margin of 13.37% and a return on equity of 13.78%. Maplebear's quarterly revenue was up 9.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.43 EPS. On average, sell-side analysts expect 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.