27,339 Shares in Maplebear Inc. $CART Purchased by NorthRock Partners LLC

NorthRock Partners LLC purchased a new stake in Maplebear Inc. (NASDAQ:CART) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 27,339 shares of the company’s stock, valued at approximately $1,237,000.

A number of other hedge funds and other institutional investors have also modified their holdings of CART. Yousif Capital Management LLC acquired a new position in shares of Maplebear in the 1st quarter valued at $2,210,000. GAMMA Investing LLC boosted its position in shares of Maplebear by 87.1% in the 1st quarter. GAMMA Investing LLC now owns 1,334 shares of the company’s stock valued at $53,000 after purchasing an additional 621 shares during the period. Wealth Enhancement Advisory Services LLC boosted its position in shares of Maplebear by 0.5% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 74,846 shares of the company’s stock valued at $2,986,000 after purchasing an additional 336 shares during the period. Exchange Traded Concepts LLC boosted its position in shares of Maplebear by 0.9% in the 1st quarter. Exchange Traded Concepts LLC now owns 56,823 shares of the company’s stock valued at $2,267,000 after purchasing an additional 515 shares during the period. Finally, Janney Montgomery Scott LLC boosted its position in shares of Maplebear by 18.5% in the 1st quarter. Janney Montgomery Scott LLC now owns 28,356 shares of the company’s stock valued at $1,131,000 after purchasing an additional 4,418 shares during the period. Institutional investors and hedge funds own 63.09% of the company’s stock.

Maplebear Price Performance

Shares of Maplebear stock opened at $38.73 on Tuesday. The firm has a market cap of $10.20 billion, a price-to-earnings ratio of 22.39, a P/E/G ratio of 1.18 and a beta of 1.10. Maplebear Inc. has a 52-week low of $34.87 and a 52-week high of $53.50. The stock has a 50-day simple moving average of $43.67 and a 200-day simple moving average of $44.27.

Maplebear (NASDAQ:CART) last announced its quarterly earnings results on Thursday, August 7th. The company reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.02. The business had revenue of $914.00 million during the quarter, compared to analyst estimates of $896.55 million. Maplebear had a return on equity of 15.69% and a net margin of 13.76%.The firm’s revenue was up 11.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.20 EPS. As a group, equities research analysts predict that Maplebear Inc. will post 1.43 earnings per share for the current year.

Insider Buying and Selling at Maplebear

In other news, General Counsel Morgan Fong sold 3,546 shares of Maplebear stock in a transaction dated Monday, September 22nd. The stock was sold at an average price of $42.39, for a total transaction of $150,314.94. Following the completion of the sale, the general counsel directly owned 431,069 shares in the company, valued at $18,273,014.91. The trade was a 0.82% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Daniel Danker sold 10,037 shares of Maplebear stock in a transaction dated Friday, July 18th. The shares were sold at an average price of $48.82, for a total value of $490,006.34. Following the sale, the insider owned 470,190 shares of the company’s stock, valued at approximately $22,954,675.80. This represents a 2.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 4,972,134 shares of company stock worth $237,530,070 over the last quarter. Insiders own 26.00% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. Morgan Stanley increased their price target on Maplebear from $45.00 to $48.00 and gave the company an “equal weight” rating in a research report on Friday, August 15th. Piper Sandler lowered Maplebear from an “overweight” rating to a “neutral” rating and set a $41.00 price objective for the company. in a research report on Friday, October 3rd. Bank of America raised their price objective on Maplebear from $53.00 to $58.00 and gave the stock a “neutral” rating in a research report on Friday, August 8th. Wall Street Zen lowered Maplebear from a “buy” rating to a “hold” rating in a research report on Monday, September 29th. Finally, Citigroup raised their price objective on Maplebear from $57.00 to $65.00 and gave the stock a “buy” rating in a research report on Friday, August 8th. Two analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Maplebear presently has a consensus rating of “Moderate Buy” and a consensus price target of $53.42.

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.