FORA Capital LLC Purchases Shares of 128,391 Maplebear Inc. (NASDAQ:CART)

FORA Capital LLC acquired a new stake in Maplebear Inc. (NASDAQ:CART) in the 3rd quarter, HoldingsChannel.com reports. The fund acquired 128,391 shares of the company’s stock, valued at approximately $5,231,000.

Several other large investors have also bought and sold shares of the company. Huntington National Bank acquired a new stake in Maplebear in the 3rd quarter valued at about $54,000. nVerses Capital LLC raised its holdings in shares of Maplebear by 1,600.0% in the 2nd quarter. nVerses Capital LLC now owns 1,700 shares of the company’s stock worth $55,000 after purchasing an additional 1,600 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Maplebear during the third quarter valued at approximately $74,000. Quarry LP boosted its holdings in Maplebear by 269.5% during the second quarter. Quarry LP now owns 3,928 shares of the company’s stock worth $126,000 after buying an additional 2,865 shares in the last quarter. Finally, Watts Gwilliam & Co. LLC acquired a new position in Maplebear in the third quarter worth approximately $231,000. Institutional investors own 63.09% of the company’s stock.

Insider Activity at Maplebear

In other news, CAO Alan Ramsay sold 2,486 shares of Maplebear stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $41.39, for a total value of $102,895.54. Following the transaction, the chief accounting officer now owns 99,225 shares of the company’s stock, valued at $4,106,922.75. This trade represents a 2.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, General Counsel Morgan Fong sold 29,253 shares of the company’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $48.03, for a total transaction of $1,405,021.59. Following the sale, the general counsel now directly owns 258,406 shares of the company’s stock, valued at approximately $12,411,240.18. This represents a 10.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 90,204 shares of company stock valued at $3,998,778. Corporate insiders own 36.00% of the company’s stock.

Maplebear Stock Down 0.1 %

Shares of CART traded down $0.06 during mid-day trading on Wednesday, hitting $43.48. 92,042 shares of the company’s stock were exchanged, compared to its average volume of 3,994,452. Maplebear Inc. has a twelve month low of $22.13 and a twelve month high of $50.01. The firm has a fifty day moving average of $43.06 and a two-hundred day moving average of $36.94. The stock has a market cap of $11.17 billion, a price-to-earnings ratio of 29.22, a P/E/G ratio of 1.13 and a beta of 1.12.

Maplebear (NASDAQ:CART) last posted its earnings results on Tuesday, November 12th. The company reported $0.42 EPS for the quarter, topping the consensus estimate of $0.22 by $0.20. The firm had revenue of $852.00 million for 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 quarterly revenue was up 11.5% on a year-over-year basis. During the same period in the prior year, the business posted ($20.86) earnings per share. On average, equities analysts predict that Maplebear Inc. will post 1.4 earnings per share for the current year.

Wall Street Analysts Forecast Growth

CART has been the subject of several research reports. JMP Securities raised their price objective on Maplebear from $42.00 to $51.00 and gave the stock a “market outperform” rating in a research note on Wednesday, November 13th. Jefferies Financial Group began coverage on Maplebear in a research report on Wednesday, October 16th. They issued a “hold” rating and a $43.00 price target for the company. BMO Capital Markets boosted their price objective on Maplebear from $39.00 to $48.00 and gave the stock a “market perform” rating in a report on Wednesday, November 13th. Macquarie raised their target price on shares of Maplebear from $50.00 to $52.00 and gave the stock an “outperform” rating in a report on Thursday, November 14th. Finally, Citigroup boosted their price target on shares of Maplebear from $44.00 to $47.00 and gave the company a “buy” rating in a report on Thursday, August 8th. Twelve investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $47.29.

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.