Cullen Frost Bankers Inc. Buys New Shares in Maplebear Inc. (NASDAQ:CART)

Cullen Frost Bankers Inc. bought a new stake in shares of Maplebear Inc. (NASDAQ:CART) during the fourth quarter, Holdings Channel reports. The institutional investor bought 1,500 shares of the company’s stock, valued at approximately $62,000.

Other institutional investors also recently modified their holdings of the company. Jones Financial Companies Lllp lifted its position in shares of Maplebear by 46.6% during 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 period. Wilmington Savings Fund Society FSB acquired a new position in shares of Maplebear during the 3rd quarter valued at $33,000. Allworth Financial LP lifted its position in shares of Maplebear by 101.4% during the 4th quarter. Allworth Financial LP now owns 834 shares of the company’s stock valued at $37,000 after acquiring an additional 420 shares during the period. Huntington National Bank acquired a new position in shares of Maplebear during the 3rd quarter valued at $54,000. Finally, Newbridge Financial Services Group Inc. acquired a new position in shares of Maplebear during the 4th quarter valued at $151,000. Institutional investors and hedge funds own 63.09% of the company’s stock.

Maplebear Stock Up 5.7 %

NASDAQ CART opened at $39.90 on Monday. The company has a market cap of $10.56 billion, a PE ratio of 26.78, a price-to-earnings-growth ratio of 1.19 and a beta of 1.34. Maplebear Inc. has a 52 week low of $29.84 and a 52 week high of $53.44. The firm’s 50-day simple moving average is $45.99 and its two-hundred day simple moving average is $43.08.

Maplebear (NASDAQ:CART) last released its quarterly earnings data on Tuesday, February 25th. The company reported $0.53 EPS for the quarter, beating the consensus estimate of $0.37 by $0.16. The business had revenue of $883.00 million for the quarter, compared to the consensus estimate of $889.98 million. Maplebear had a net margin of 13.37% and a return on equity of 13.78%. As a group, equities research analysts anticipate that Maplebear Inc. will post 1.43 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have commented on CART shares. Mizuho decreased their price target on shares of Maplebear from $55.00 to $52.00 and set an “outperform” rating for the company in a research note on Wednesday, February 26th. Macquarie boosted their price target on shares of Maplebear from $52.00 to $55.00 and gave the company an “outperform” rating in a research note on Thursday, February 27th. Benchmark restated a “hold” rating on shares of Maplebear in a research note on Wednesday, February 26th. Wells Fargo & Company started coverage on shares of Maplebear in a research note on Friday, January 10th. They set an “equal weight” rating and a $47.00 price target for the company. Finally, Loop Capital decreased their price target on shares of Maplebear from $56.00 to $52.00 and set a “buy” rating for the company in a research note on Thursday. Thirteen research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Maplebear currently has an average rating of “Moderate Buy” and an average target price of $50.21.

Insider Transactions at Maplebear

In other news, CAO Alan Ramsay sold 2,247 shares of the stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $42.14, for a total value of $94,688.58. Following the sale, the chief accounting officer now directly owns 87,735 shares of the company’s stock, valued at approximately $3,697,152.90. This represents a 2.50 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Fidji Simo sold 20,750 shares of the 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 completion of the sale, the chief executive officer now directly owns 1,662,692 shares in the company, valued at approximately $72,011,190.52. The trade was a 1.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 46,061 shares of company stock valued at $1,987,318. 36.00% of the stock is currently owned by corporate insiders.

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.