Williams & Novak LLC Makes New Investment in Maplebear Inc. (NASDAQ:CART)

Williams & Novak LLC purchased a new stake in shares of Maplebear Inc. (NASDAQ:CART) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 5,020 shares of the company’s stock, valued at approximately $208,000.

A number of other institutional investors have also recently made changes to their positions in the stock. CIBC Asset Management Inc boosted its holdings in Maplebear by 3.7% in the third quarter. CIBC Asset Management Inc now owns 8,114 shares of the company’s stock worth $331,000 after purchasing an additional 286 shares during the last quarter. Coldstream Capital Management Inc. lifted its holdings in shares of Maplebear by 1.6% during the 3rd quarter. Coldstream Capital Management Inc. now owns 31,745 shares of the company’s stock valued at $1,294,000 after buying an additional 490 shares during the period. Oppenheimer & Co. Inc. boosted its stake in shares of Maplebear by 5.1% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 12,090 shares of the company’s stock worth $493,000 after buying an additional 584 shares during the last quarter. Pier Capital LLC grew its holdings in shares of Maplebear by 0.4% in the third quarter. Pier Capital LLC now owns 151,604 shares of the company’s stock worth $6,176,000 after acquiring an additional 616 shares during the period. Finally, Wilmington Savings Fund Society FSB bought a new stake in shares of Maplebear in the third quarter worth $33,000. Hedge funds and other 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 Maplebear stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $42.74, for a total transaction of $886,855.00. Following the completion of the transaction, the chief executive officer now directly owns 1,771,993 shares of the company’s stock, valued at approximately $75,734,980.82. The trade was a 1.16 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Alan Ramsay sold 2,247 shares of the company’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $41.06, for a total transaction of $92,261.82. Following the transaction, the chief accounting officer now owns 89,982 shares in the company, valued at $3,694,660.92. The trade was a 2.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 79,808 shares of company stock worth $3,569,808 over the last ninety days. Company insiders own 36.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Wells Fargo & Company started coverage on Maplebear in a report on Friday, January 10th. They issued an “equal weight” rating and a $47.00 target price on the stock. Needham & Company LLC upgraded shares of Maplebear from a “hold” rating to a “buy” rating and set a $56.00 price target on the stock in a research note on Monday, January 13th. JPMorgan Chase & Co. upped their price objective on Maplebear from $47.00 to $52.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. Barclays lifted their target price on Maplebear from $48.00 to $56.00 and gave the company an “overweight” rating in a research report on Wednesday, November 13th. Finally, Robert W. Baird upped their price target on Maplebear from $44.00 to $51.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Thirteen analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $48.96.

Maplebear Stock Performance

Shares of CART opened at $46.75 on Wednesday. The stock has a market capitalization of $12.01 billion, a PE ratio of 31.38, a P/E/G ratio of 1.01 and a beta of 1.04. The company’s fifty day moving average is $43.68 and its 200 day moving average is $40.33. Maplebear Inc. has a fifty-two week low of $23.59 and a fifty-two week high of $50.01.

Maplebear (NASDAQ:CART) last posted its earnings results on Tuesday, November 12th. The company reported $0.42 earnings per share for the quarter, topping analysts’ consensus estimates of $0.22 by $0.20. Maplebear had a net margin of 13.37% and a return on equity of 13.78%. The firm had revenue of $852.00 million for the quarter, compared to the consensus estimate of $844.03 million. During the same period in the previous year, the firm posted ($20.86) EPS. The business’s quarterly revenue was up 11.5% on a year-over-year basis. As a group, research analysts forecast that Maplebear Inc. will post 1.42 earnings per share for the current year.

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.