Vise Technologies Inc. purchased a new position in shares of Maplebear Inc. (NASDAQ:CART – Free Report) during the 3rd quarter, Holdings Channel.com reports. The fund purchased 16,613 shares of the company’s stock, valued at approximately $716,000.
Several other hedge funds and other institutional investors have also made changes to their positions in the company. Angeles Wealth Management LLC lifted its stake in Maplebear by 3.7% in the third quarter. Angeles Wealth Management LLC now owns 4,965 shares of the company’s stock valued at $214,000 after acquiring an additional 179 shares during the last quarter. Fifth Third Wealth Advisors LLC raised its stake in Maplebear by 5.1% in the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 5,363 shares of the company’s stock valued at $231,000 after acquiring an additional 260 shares during the period. Wedmont Private Capital raised its stake in Maplebear by 4.3% in the 3rd quarter. Wedmont Private Capital now owns 7,026 shares of the company’s stock valued at $325,000 after acquiring an additional 290 shares during the period. CX Institutional boosted its position in Maplebear by 91.5% during the third quarter. CX Institutional now owns 944 shares of the company’s stock worth $41,000 after purchasing an additional 451 shares during the period. Finally, GAMMA Investing LLC raised its position in shares of Maplebear by 11.3% in the third quarter. GAMMA Investing LLC now owns 4,783 shares of the company’s stock valued at $206,000 after purchasing an additional 486 shares during the period. 63.09% of the stock is owned by institutional investors.
Insider Activity at Maplebear
In other news, CAO Lisa Blackwood-Kapral sold 3,017 shares of the firm’s stock in a transaction dated Tuesday, September 15th. The stock was sold at an average price of $47.08, for a total value of $142,040.36. Following the completion of the sale, the chief accounting officer directly owned 37,715 shares in the company, valued at $1,775,622.20. This trade represents a 7.41% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Chris Rogers sold 24,665 shares of Maplebear stock in a transaction on Monday, October 26th. The shares were sold at an average price of $60.00, for a total transaction of $1,479,900.00. Following the completion of the sale, the chief executive officer directly owned 867,911 shares of the company’s stock, valued at approximately $52,074,660. The trade was a 2.76% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 309,928 shares of company stock worth $16,121,073. 24.00% of the stock is currently owned by insiders.
Maplebear Price Performance
CART opened at $58.47 on Wednesday. The firm has a market capitalization of $13.84 billion, a price-to-earnings ratio of 27.19, a PEG ratio of 1.16 and a beta of 0.69. Maplebear Inc. has a fifty-two week low of $32.73 and a fifty-two week high of $62.00. The company’s 50 day moving average price is $50.10 and its two-hundred day moving average price is $43.96.
Maplebear (NASDAQ:CART – Get Free Report) last released its earnings results on Thursday, October 29th. The company reported $0.60 earnings per share for the quarter, missing analysts’ consensus estimates of $0.63 by ($0.03). Maplebear had a net margin of 11.59% and a return on equity of 22.14%. The firm had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.07 billion. During the same period in the prior year, the company posted $0.42 EPS. The business’s revenue for the quarter was up 16.6% compared to the same quarter last year. As a group, equities research analysts predict that Maplebear Inc. will post 2.28 EPS for the current year.
Analyst Upgrades and Downgrades
Several brokerages have issued reports on CART. Wall Street Zen downgraded shares of Maplebear from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. Wedbush downgraded shares of Maplebear from an “outperform” rating to a “hold” rating and lifted their price target for the company from $63.00 to $65.00 in a research report on Friday, October 30th. Sanford C. Bernstein cut Maplebear from an “outperform” rating to a “hold” rating and boosted their price target for the company from $60.00 to $65.00 in a research note on Friday, October 30th. Oppenheimer increased their price target on Maplebear from $60.00 to $65.00 and gave the stock an “outperform” rating in a research report on Friday, August 7th. Finally, Argus increased their price target on Maplebear from $50.00 to $58.00 and gave the stock a “buy” rating in a research report on Wednesday, September 2nd. Seven analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $59.12.
View Our Latest Stock Report on Maplebear
Maplebear Profile
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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