Newbridge Financial Services Group Inc. Invests $151,000 in Maplebear Inc. (NASDAQ:CART)

Newbridge Financial Services Group Inc. acquired a new stake in Maplebear Inc. (NASDAQ:CART) during the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 3,650 shares of the company’s stock, valued at approximately $151,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Pacer Advisors Inc. acquired a new stake in shares of Maplebear in the 3rd quarter valued at about $158,701,000. Geode Capital Management LLC raised its position in Maplebear by 151.7% in the 3rd quarter. Geode Capital Management LLC now owns 2,732,738 shares of the company’s stock valued at $111,361,000 after buying an additional 1,647,081 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Maplebear by 5,191.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,489,655 shares of the company’s stock valued at $60,689,000 after acquiring an additional 1,461,501 shares in the last quarter. Southpoint Capital Advisors LP boosted its position in Maplebear by 56.3% during the 3rd quarter. Southpoint Capital Advisors LP now owns 2,500,000 shares of the company’s stock worth $101,850,000 after acquiring an additional 900,000 shares during the last quarter. Finally, Simcoe Capital Management LLC boosted its position in Maplebear by 216.5% during the 3rd quarter. Simcoe Capital Management LLC now owns 1,225,690 shares of the company’s stock worth $49,935,000 after acquiring an additional 838,470 shares during the last quarter. 63.09% of the stock is owned by institutional investors and hedge funds.

Maplebear Price Performance

CART opened at $49.21 on Monday. The business has a fifty day simple moving average of $44.61 and a 200 day simple moving average of $41.12. Maplebear Inc. has a 1 year low of $24.43 and a 1 year high of $50.11. The company has a market capitalization of $12.64 billion, a PE ratio of 33.03, a price-to-earnings-growth ratio of 1.09 and a beta of 1.07.

Maplebear (NASDAQ:CART) last posted its earnings results on Tuesday, November 12th. The company reported $0.42 earnings per share for the quarter, topping analysts’ consensus estimates of $0.22 by $0.20. Maplebear had a return on equity of 13.78% and a net margin of 13.37%. The company had revenue of $852.00 million during the quarter, compared to the consensus estimate of $844.03 million. During the same quarter last year, the firm earned ($20.86) earnings per share. The company’s revenue was up 11.5% on a year-over-year basis. Equities analysts anticipate that Maplebear Inc. will post 1.43 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Fidji Simo sold 20,750 shares of the firm’s stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $42.74, for a total value of $886,855.00. Following the transaction, the chief executive officer now owns 1,771,993 shares in the company, valued at approximately $75,734,980.82. This trade represents a 1.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Alan Ramsay sold 2,247 shares of the business’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $41.06, for a total value of $92,261.82. Following the completion of the transaction, the chief accounting officer now directly owns 89,982 shares of the company’s stock, valued at approximately $3,694,660.92. This trade represents a 2.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 50,555 shares of company stock worth $2,164,787 in the last quarter. 36.00% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on CART. JPMorgan Chase & Co. boosted their price objective on shares of Maplebear from $47.00 to $52.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 13th. JMP Securities boosted their price target on shares of Maplebear from $42.00 to $51.00 and gave the stock a “market outperform” rating in a research report on Wednesday, November 13th. Mizuho assumed coverage on Maplebear in a report on Tuesday, January 14th. They issued an “outperform” rating and a $55.00 price objective for the company. Jefferies Financial Group started coverage on Maplebear in a research report on Wednesday, October 16th. They issued a “hold” rating and a $43.00 target price on the stock. Finally, Macquarie increased their price target on Maplebear from $50.00 to $52.00 and gave the company an “outperform” rating in a research report on Thursday, November 14th. Thirteen 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. Based on data from MarketBeat, Maplebear currently has a consensus rating of “Moderate Buy” and an average price target of $48.96.

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.