Adero Partners LLC Buys 828 Shares of Maplebear Inc. (NASDAQ:CART)

Adero Partners LLC increased its stake in shares of Maplebear Inc. (NASDAQ:CART) by 7.4% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 12,019 shares of the company’s stock after purchasing an additional 828 shares during the period. Adero Partners LLC’s holdings in Maplebear were worth $498,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CART. Wilmington Savings Fund Society FSB purchased a new stake in Maplebear during the 3rd quarter valued at $33,000. Huntington National Bank purchased a new position in shares of Maplebear in the 3rd quarter worth $54,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Maplebear in the third quarter worth $74,000. KBC Group NV increased its position in Maplebear by 56.5% during the fourth quarter. KBC Group NV now owns 3,808 shares of the company’s stock valued at $158,000 after acquiring an additional 1,374 shares during the last quarter. Finally, Williams & Novak LLC bought a new position in Maplebear in the fourth quarter valued at about $208,000. Institutional investors own 63.09% of the company’s stock.

Maplebear Stock Performance

Shares of NASDAQ:CART opened at $48.49 on Thursday. The firm has a market cap of $12.46 billion, a price-to-earnings ratio of 32.54, a P/E/G ratio of 1.09 and a beta of 1.07. The firm has a fifty day moving average price of $44.40 and a 200 day moving average price of $40.93. Maplebear Inc. has a fifty-two week low of $23.59 and a fifty-two week high of $50.01.

Maplebear (NASDAQ:CART) last released its quarterly earnings data on Tuesday, November 12th. The company reported $0.42 EPS for the quarter, beating the consensus estimate of $0.22 by $0.20. The business had revenue of $852.00 million during the quarter, compared to the consensus estimate of $844.03 million. Maplebear had a net margin of 13.37% and a return on equity of 13.78%. The business’s revenue was up 11.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($20.86) EPS. As a group, research analysts predict that Maplebear Inc. will post 1.43 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Fidji Simo sold 20,750 shares of the business’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 directly owns 1,771,993 shares in the company, valued at $75,734,980.82. The trade was a 1.16 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Alan Ramsay sold 2,314 shares of the company’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $46.28, for a total transaction of $107,091.92. Following the sale, the chief accounting officer now owns 85,421 shares in the company, valued at $3,953,283.88. This represents a 2.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 50,555 shares of company stock worth $2,164,787. Corporate insiders own 36.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on CART shares. BMO Capital Markets boosted their price target on Maplebear from $39.00 to $48.00 and gave the company a “market perform” rating in a research note on Wednesday, November 13th. Bank of America boosted their target price on shares of Maplebear from $50.00 to $51.00 and gave the company a “neutral” rating in a research report on Wednesday, November 13th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Maplebear in a research report on Tuesday, December 3rd. They issued a “hold” rating and a $37.00 price target on the stock. Macquarie boosted their price objective on shares of Maplebear from $50.00 to $52.00 and gave the company an “outperform” rating in a research report on Thursday, November 14th. Finally, Mizuho started coverage on Maplebear in a report on Tuesday, January 14th. They issued an “outperform” rating and a $55.00 target price on the stock. Thirteen research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $48.96.

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.