Arkfeld Wealth Strategies L.L.C. Increases Stock Position in Maplebear Inc. (NASDAQ:CART)

Arkfeld Wealth Strategies L.L.C. boosted its stake in Maplebear Inc. (NASDAQ:CART) by 70.1% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 18,628 shares of the company’s stock after purchasing an additional 7,680 shares during the quarter. Arkfeld Wealth Strategies L.L.C.’s holdings in Maplebear were worth $829,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. Pacer Advisors Inc. purchased a new stake in shares of Maplebear during the 3rd quarter valued at about $158,701,000. Geode Capital Management LLC raised its position in shares of Maplebear by 151.7% during the 3rd quarter. Geode Capital Management LLC now owns 2,732,738 shares of the company’s stock valued at $111,361,000 after buying an additional 1,647,081 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in Maplebear by 5,191.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,489,655 shares of the company’s stock worth $60,689,000 after purchasing an additional 1,461,501 shares during the period. Southpoint Capital Advisors LP raised its position in Maplebear by 56.3% in the 3rd quarter. Southpoint Capital Advisors LP now owns 2,500,000 shares of the company’s stock worth $101,850,000 after purchasing an additional 900,000 shares during the period. Finally, Simcoe Capital Management LLC raised its position in Maplebear by 216.5% in the 3rd quarter. Simcoe Capital Management LLC now owns 1,225,690 shares of the company’s stock worth $49,935,000 after purchasing an additional 838,470 shares during the period. Hedge funds and other institutional investors own 63.09% of the company’s stock.

Insider Activity at Maplebear

In other Maplebear news, CAO Alan Ramsay sold 2,314 shares of the firm’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $46.28, for a total transaction of $107,091.92. Following the transaction, the chief accounting officer now directly owns 85,421 shares of the company’s stock, valued at approximately $3,953,283.88. This trade represents a 2.64 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, General Counsel Morgan Fong sold 29,253 shares of the firm’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 transaction, the general counsel now directly owns 258,406 shares in the company, valued at $12,411,240.18. The trade was a 10.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 100,558 shares of company stock valued at $4,490,901 in the last ninety days. Insiders own 36.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on CART. Jefferies Financial Group began coverage on shares of Maplebear in a research report on Wednesday, October 16th. They issued a “hold” rating and a $43.00 price objective on the stock. Loop Capital increased their price objective on shares of Maplebear from $49.00 to $56.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Wells Fargo & Company began coverage on shares of Maplebear in a research report on Friday, January 10th. They issued an “equal weight” rating and a $47.00 price objective on the stock. Oppenheimer increased their price objective on shares of Maplebear from $55.00 to $60.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Finally, Barclays upped their target price on shares of Maplebear from $48.00 to $56.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. Thirteen equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Maplebear currently has a consensus rating of “Moderate Buy” and an average price target of $48.96.

Maplebear Trading Up 1.2 %

Shares of NASDAQ:CART opened at $45.99 on Friday. Maplebear Inc. has a 52 week low of $23.59 and a 52 week high of $50.01. The company’s 50 day moving average is $43.58 and its two-hundred day moving average is $40.16. The company has a market cap of $11.81 billion, a PE ratio of 30.87, a P/E/G ratio of 1.01 and a beta of 1.04.

Maplebear (NASDAQ:CART) last announced its quarterly earnings data on Tuesday, November 12th. The company reported $0.42 EPS for the quarter, beating 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 company had revenue of $852.00 million for the quarter, compared to the consensus estimate of $844.03 million. During the same period in the prior year, the firm posted ($20.86) EPS. The company’s quarterly revenue was up 11.5% compared to the same quarter last year. As a group, equities research analysts expect that Maplebear Inc. will post 1.42 EPS for the current year.

Maplebear Company 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.