14,118 Shares in Maplebear Inc. (NASDAQ:CART) Bought by RFG Advisory LLC

RFG Advisory LLC purchased a new position in shares of Maplebear Inc. (NASDAQ:CART) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 14,118 shares of the company’s stock, valued at approximately $563,000.

Several other hedge funds have also recently modified their holdings of the stock. NBC Securities Inc. lifted its holdings in shares of Maplebear by 63,233.3% during the first quarter. NBC Securities Inc. now owns 9,500 shares of the company’s stock worth $378,000 after purchasing an additional 9,485 shares during the period. Rhumbline Advisers increased its position in shares of Maplebear by 170.6% in the first quarter. Rhumbline Advisers now owns 433,254 shares of the company’s stock valued at $17,282,000 after buying an additional 273,161 shares in the last quarter. Private Client Services LLC purchased a new position in shares of Maplebear in the first quarter valued at $1,665,000. GAMMA Investing LLC increased its position in shares of Maplebear by 7,363.3% in the first quarter. GAMMA Investing LLC now owns 53,213 shares of the company’s stock valued at $2,123,000 after buying an additional 52,500 shares in the last quarter. Finally, Wellington Management Group LLP increased its position in shares of Maplebear by 867.0% in the fourth quarter. Wellington Management Group LLP now owns 554,882 shares of the company’s stock valued at $22,983,000 after buying an additional 497,499 shares in the last quarter. 63.09% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on CART shares. Wells Fargo & Company dropped their price target on Maplebear from $47.00 to $44.00 and set an “equal weight” rating for the company in a research report on Thursday, April 3rd. Macquarie restated an “outperform” rating and issued a $55.00 price target on shares of Maplebear in a research report on Tuesday, May 6th. Benchmark restated a “hold” rating on shares of Maplebear in a research report on Wednesday, February 26th. Jefferies Financial Group increased their price objective on Maplebear from $48.00 to $50.00 and gave the company a “hold” rating in a research note on Tuesday, May 27th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $55.00 price objective on shares of Maplebear in a research note on Friday, April 11th. Thirteen equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $51.91.

Maplebear Price Performance

Maplebear stock opened at $45.67 on Friday. The stock’s 50-day moving average is $43.17 and its 200-day moving average is $43.69. The company has a market cap of $11.99 billion, a price-to-earnings ratio of 30.65, a price-to-earnings-growth ratio of 1.19 and a beta of 1.19. Maplebear Inc. has a 12 month low of $29.84 and a 12 month high of $53.44.

Maplebear (NASDAQ:CART) last announced its earnings results on Thursday, May 1st. The company reported $0.37 EPS for the quarter, missing the consensus estimate of $0.38 by ($0.01). Maplebear had a net margin of 13.37% and a return on equity of 13.78%. The company had revenue of $897.00 million for the quarter, compared to analysts’ expectations of $896.86 million. During the same quarter in the previous year, the business posted $0.43 earnings per share. The business’s quarterly revenue was up 9.4% compared to the same quarter last year. Research analysts anticipate that Maplebear Inc. will post 1.43 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Fidji Simo sold 8,133 shares of Maplebear stock in a transaction that occurred on Monday, April 14th. The stock was sold at an average price of $41.60, for a total value of $338,332.80. Following the completion of the transaction, the chief executive officer now owns 1,646,426 shares in the company, valued at approximately $68,491,321.60. This trade represents a 0.49% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Morgan Fong sold 5,249 shares of Maplebear stock in a transaction that occurred on Monday, April 21st. The stock was sold at an average price of $42.57, for a total value of $223,449.93. Following the completion of the transaction, the general counsel now owns 484,292 shares of the company’s stock, valued at approximately $20,616,310.44. The trade was a 1.07% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 15,415 shares of company stock worth $643,103 in the last three months. 26.00% of the stock is owned by insiders.

About Maplebear

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.