Ethic Inc. Buys 15,505 Shares of Maplebear Inc. (NASDAQ:CART)

Ethic Inc. increased its position in Maplebear Inc. (NASDAQ:CART - Free Report) by 145.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 26,151 shares of the company's stock after acquiring an additional 15,505 shares during the quarter. Ethic Inc.'s holdings in Maplebear were worth $1,083,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Janney Montgomery Scott LLC grew its stake in Maplebear by 212.1% in the 4th quarter. Janney Montgomery Scott LLC now owns 23,938 shares of the company's stock worth $992,000 after buying an additional 16,267 shares in the last quarter. Cherry Creek Investment Advisors Inc. purchased a new position in shares of Maplebear in the 4th quarter worth about $235,000. US Bancorp DE raised its holdings in shares of 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 buying an additional 2,387 shares in the last quarter. Commonwealth Equity Services LLC bought a new stake in Maplebear in the 4th quarter worth approximately $234,000. Finally, PNC Financial Services Group Inc. boosted its stake in Maplebear by 243.3% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,399 shares of the company's stock worth $141,000 after buying an additional 2,409 shares in the last quarter. Institutional investors own 63.09% of the company's stock.

Maplebear Trading Down 0.4%

Shares of CART traded down $0.18 during mid-day trading on Monday, hitting $45.48. 358,844 shares of the company traded hands, compared to its average volume of 4,053,899. The stock has a market capitalization of $11.94 billion, a price-to-earnings ratio of 30.55, a PEG ratio of 1.19 and a beta of 1.19. The business has a 50-day moving average of $41.16 and a 200 day moving average of $43.53. Maplebear Inc. has a one year low of $29.84 and a one 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 (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.01). Maplebear had a return on equity of 13.78% and a net margin of 13.37%. The company had revenue of $897.00 million for the quarter, compared to the consensus estimate of $896.86 million. During the same period in the prior year, the company earned $0.43 EPS. The firm's revenue was up 9.4% on a year-over-year basis. As a group, analysts anticipate that Maplebear Inc. will post 1.43 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on CART. Barclays lifted their price target on Maplebear from $58.00 to $61.00 and gave the stock an "overweight" rating in a research note on Friday, May 2nd. Stifel Nicolaus lowered their price objective on shares of Maplebear from $57.00 to $54.00 and set a "buy" rating for the company in a research note on Wednesday, April 23rd. Bank of America upped their price target on Maplebear from $51.00 to $53.00 and gave the company a "neutral" rating in a research report on Tuesday, February 25th. Macquarie reiterated an "outperform" rating and issued a $55.00 price objective on shares of Maplebear in a research report on Tuesday, May 6th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $55.00 price target on shares of Maplebear in a research note on Wednesday, February 26th. Twelve equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $51.04.

Insiders Place Their Bets

In other news, General Counsel Morgan Fong sold 5,249 shares of the company'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 transaction, the general counsel now owns 484,292 shares of the company's stock, valued at $20,616,310.44. This represents a 1.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Fidji Simo sold 2,033 shares of the business's stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $40.00, for a total transaction of $81,320.00. Following the sale, the chief executive officer now directly owns 1,654,559 shares in the company, valued at $66,182,360. The trade was a 0.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 36,165 shares of company stock worth $1,541,785 over the last ninety days. Corporate insiders own 26.00% of the company's stock.

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.