Kestra Investment Management LLC Buys 32,431 Shares of Maplebear Inc. $CART

Kestra Investment Management LLC bought a new position in Maplebear Inc. (NASDAQ:CART – Free Report) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 32,431 shares of the company’s stock, valued at approximately $1,398,000.

A number of other institutional investors and hedge funds have also modified their holdings of the business. BlackRock Inc. acquired a new stake in Maplebear in the second quarter valued at approximately $750,477,000. William Blair Investment Management LLC bought a new stake in Maplebear in the second quarter worth approximately $86,462,000. Deutsche Bank AG bought a new stake in Maplebear in the second quarter worth approximately $73,801,000. Goodnow Investment Group LLC acquired a new position in shares of Maplebear during the 2nd quarter worth $69,898,000. Finally, Bank of America Corp DE acquired a new position in shares of Maplebear during the 2nd quarter worth $57,392,000. Hedge funds and other institutional investors own 63.09% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on CART shares. Wedbush downgraded shares of Maplebear from an “outperform” rating to a “hold” rating and raised their price target for the company from $63.00 to $65.00 in a report on Friday, October 30th. Benchmark upped their price objective on shares of Maplebear from $55.00 to $63.00 and gave the stock a “buy” rating in a report on Friday, August 7th. Weiss Ratings raised shares of Maplebear from a “hold (c+)” rating to a “buy (b)” rating in a research report on Monday. JPMorgan Chase & Co. raised their target price on Maplebear from $55.00 to $62.00 and gave the company an “overweight” rating in a report on Friday, August 7th. Finally, Citizens Jmp lowered Maplebear from a “market outperform” rating to a “hold” rating in a report on Friday, October 30th. Seven equities research analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $59.12.

Read Our Latest Analysis on CART

Maplebear Trading Up 0.0%

NASDAQ CART opened at $58.47 on Wednesday. The company has a fifty day simple moving average of $50.10 and a 200 day simple moving average of $43.96. The company has a market cap of $13.84 billion, a P/E ratio of 30.45, a P/E/G ratio of 1.16 and a beta of 0.68. Maplebear Inc. has a 1 year low of $32.73 and a 1 year high of $62.00.

Maplebear (NASDAQ:CART – Get Free Report) last posted its earnings results on Thursday, October 29th. The company reported $0.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.63 by ($0.03). The firm had revenue of $1.09 billion during the quarter, compared to analyst estimates of $1.07 billion. Maplebear had a net margin of 11.59% and a return on equity of 22.14%. The business’s quarterly revenue was up 16.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.42 earnings per share. Equities research analysts forecast that Maplebear Inc. will post 2.28 EPS for the current fiscal year.

Insider Activity at Maplebear

In other Maplebear news, CFO Emily Reuter sold 50,000 shares of the company’s stock in a transaction dated Friday, October 23rd. The shares were sold at an average price of $55.00, for a total transaction of $2,750,000.00. Following the completion of the sale, the chief financial officer directly owned 599,337 shares in the company, valued at $32,963,535. This represents a 7.70% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ravi Gupta sold 150,000 shares of the firm’s stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $50.61, for a total value of $7,591,500.00. Following the completion of the sale, the director directly owned 591,523 shares in the company, valued at approximately $29,936,979.03. This represents a 20.23% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 309,928 shares of company stock valued at $16,121,073. 24.00% of the stock is owned by corporate insiders.

Maplebear Profile

(Free Report)

Maplebear Inc., which operates as Instacart, provides an online grocery and retail marketplace in the United States and Canada. Its platform connects customers with local grocery stores and other retailers, enabling them to order products for delivery or pickup. In addition to its consumer app and website, Instacart offers retailers technology and services for online ordering, fulfillment and digital advertising. The company was founded in 2012 and is led by CEO Fidji Simo.

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