Lake Street Advisors Group LLC Purchases New Position in Maplebear Inc. (NASDAQ:CART)

Lake Street Advisors Group LLC acquired a new position in shares of Maplebear Inc. (NASDAQ:CART) in the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 9,000 shares of the company’s stock, valued at approximately $373,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Wilmington Savings Fund Society FSB bought a new stake in shares of Maplebear during the third quarter worth $33,000. Allworth Financial LP boosted its holdings 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 in the last quarter. Huntington National Bank bought a new stake in Maplebear during the 3rd quarter worth $54,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in Maplebear in the 3rd quarter worth about $74,000. Finally, Newbridge Financial Services Group Inc. bought a new position in Maplebear in the fourth quarter valued at about $151,000. Institutional investors own 63.09% of the company’s stock.

Insider Buying and Selling at Maplebear

In related news, CEO Fidji Simo sold 20,750 shares of the company’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $42.74, for a total value of $886,855.00. Following the sale, the chief executive officer now owns 1,771,993 shares in the company, valued at $75,734,980.82. This represents a 1.16 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Alan Ramsay sold 2,314 shares of Maplebear stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $46.28, for a total value of $107,091.92. Following the transaction, the chief accounting officer now owns 85,421 shares of the company’s stock, valued at $3,953,283.88. This trade represents a 2.64 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 25,311 shares of company stock valued at $1,088,636. Corporate insiders own 36.00% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on CART. Loop Capital boosted their price target on Maplebear from $49.00 to $56.00 and gave the stock a “buy” rating in a report on Monday, December 9th. JPMorgan Chase & Co. reduced their target price on shares of Maplebear from $52.00 to $50.00 and set an “overweight” rating on the stock in a report on Wednesday. Morgan Stanley raised their price target on shares of Maplebear from $44.00 to $45.00 and gave the company an “equal weight” rating in a research note on Wednesday. Cantor Fitzgerald reiterated an “overweight” rating and set a $55.00 price target on shares of Maplebear in a report on Wednesday. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Maplebear in a report on Tuesday, December 3rd. They issued a “hold” rating and a $37.00 price objective for the company. Thirteen research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $49.92.

Maplebear Stock Performance

CART stock opened at $40.74 on Friday. The stock’s 50 day simple moving average is $46.45 and its 200 day simple moving average is $42.66. The company has a market cap of $10.47 billion, a P/E ratio of 27.34, a price-to-earnings-growth ratio of 1.19 and a beta of 1.07. Maplebear Inc. has a fifty-two week low of $29.84 and a fifty-two week high of $53.44.

Maplebear (NASDAQ:CART) last issued its earnings results on Tuesday, February 25th. The company reported $0.53 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.16. Maplebear had a return on equity of 13.78% and a net margin of 13.37%. The company had revenue of $883.00 million for the quarter, compared to analyst estimates of $889.98 million. Equities analysts predict that Maplebear Inc. will post 1.43 earnings per share for the current year.

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.