Newbridge Financial Services Group Inc. Buys New Position in Maplebear Inc. (NASDAQ:CART)

Newbridge Financial Services Group Inc. purchased a new position in Maplebear Inc. (NASDAQ:CART) during the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 3,650 shares of the company’s stock, valued at approximately $151,000.

Other large investors also recently modified their holdings of the company. Wilmington Savings Fund Society FSB bought a new position in Maplebear during the third quarter worth $33,000. Huntington National Bank acquired a new stake in Maplebear in the 3rd quarter worth $54,000. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Maplebear during the 3rd quarter worth about $74,000. KBC Group NV raised its position in shares of 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 buying an additional 1,374 shares during the last quarter. Finally, Williams & Novak LLC bought a new stake in shares of Maplebear in the fourth quarter valued at about $208,000. 63.09% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CAO Alan Ramsay sold 2,314 shares of the business’s stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $46.28, for a total transaction of $107,091.92. Following the completion of the transaction, the chief accounting officer now directly owns 85,421 shares in the company, valued at approximately $3,953,283.88. The trade was a 2.64 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Fidji Simo sold 20,750 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $42.97, for a total transaction of $891,627.50. Following the completion of the sale, the chief executive officer now owns 1,804,243 shares in the company, valued at $77,528,321.71. This represents a 1.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 50,555 shares of company stock valued at $2,164,787 over the last ninety days. Insiders own 36.00% of the company’s stock.

Maplebear Stock Performance

NASDAQ CART opened at $49.21 on Monday. Maplebear Inc. has a 52 week low of $24.43 and a 52 week high of $50.11. The stock has a market capitalization of $12.64 billion, a P/E ratio of 33.03, a price-to-earnings-growth ratio of 1.09 and a beta of 1.07. The stock has a fifty day moving average of $44.61 and a 200-day moving average of $41.12.

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

Wall Street Analyst Weigh In

Several brokerages recently issued reports on CART. Piper Sandler boosted their price target on Maplebear from $50.00 to $58.00 and gave the company an “overweight” rating in a research note on Wednesday, November 13th. Robert W. Baird boosted their price objective on Maplebear from $44.00 to $51.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. JPMorgan Chase & Co. raised their target price on Maplebear from $47.00 to $52.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 13th. JMP Securities lifted their price objective on Maplebear from $42.00 to $51.00 and gave the company a “market outperform” rating in a report on Wednesday, November 13th. Finally, Stifel Nicolaus increased their target price on Maplebear from $52.00 to $55.00 and gave the stock a “buy” rating in a report on Monday, October 28th. 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 MarketBeat, Maplebear presently has an average rating of “Moderate Buy” and a consensus target price of $48.96.

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.