Lake Street Advisors Group LLC Buys Shares of 9,000 Maplebear Inc. (NASDAQ:CART)

Lake Street Advisors Group LLC purchased a new position in Maplebear Inc. (NASDAQ:CART) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm purchased 9,000 shares of the company’s stock, valued at approximately $373,000.

A number of other institutional investors have also made changes to their positions in CART. Pacer Advisors Inc. acquired a new position in Maplebear in the third quarter valued at about $158,701,000. Geode Capital Management LLC raised its position in shares of Maplebear by 151.7% in the 3rd quarter. Geode Capital Management LLC now owns 2,732,738 shares of the company’s stock valued at $111,361,000 after acquiring an additional 1,647,081 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in Maplebear by 5,191.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,489,655 shares of the company’s stock worth $60,689,000 after acquiring an additional 1,461,501 shares during the last quarter. Southpoint Capital Advisors LP grew its holdings in Maplebear by 56.3% during the third quarter. Southpoint Capital Advisors LP now owns 2,500,000 shares of the company’s stock valued at $101,850,000 after purchasing an additional 900,000 shares during the period. Finally, Simcoe Capital Management LLC increased its stake in Maplebear by 216.5% in the third quarter. Simcoe Capital Management LLC now owns 1,225,690 shares of the company’s stock valued at $49,935,000 after purchasing an additional 838,470 shares in the last quarter. 63.09% of the stock is owned by institutional investors and hedge funds.

Maplebear Trading Down 4.8 %

NASDAQ CART opened at $40.74 on Friday. The firm has a market capitalization of $10.47 billion, a P/E ratio of 27.34, a price-to-earnings-growth ratio of 1.19 and a beta of 1.07. The firm’s fifty day moving average price is $46.45 and its two-hundred day moving average price is $42.66. Maplebear Inc. has a 1 year low of $29.84 and a 1 year high of $53.44.

Maplebear (NASDAQ:CART) last issued its earnings results on Tuesday, February 25th. The company reported $0.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.37 by $0.16. Maplebear had a net margin of 13.37% and a return on equity of 13.78%. The company had revenue of $883.00 million for the quarter, compared to analysts’ expectations of $889.98 million. On average, research analysts anticipate that Maplebear Inc. will post 1.43 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. BMO Capital Markets lifted their price target on shares of Maplebear from $48.00 to $49.00 and gave the stock a “market perform” rating in a research report on Wednesday. JPMorgan Chase & Co. dropped their price objective on Maplebear from $52.00 to $50.00 and set an “overweight” rating on the stock in a research note on Wednesday. JMP Securities boosted their target price on Maplebear from $42.00 to $51.00 and gave the company a “market outperform” rating in a research note on Wednesday, November 13th. Oppenheimer lowered their price target on Maplebear from $65.00 to $60.00 and set an “outperform” rating for the company in a report on Wednesday. Finally, Piper Sandler lifted their price objective on Maplebear from $50.00 to $58.00 and gave the company an “overweight” rating in a report on Wednesday, November 13th. Thirteen investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $49.92.

Insider Activity at Maplebear

In other news, CAO Alan Ramsay sold 2,314 shares of Maplebear stock in a transaction on 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 sale, the chief accounting officer now 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Fidji Simo sold 20,750 shares of the company’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $42.74, for a total transaction of $886,855.00. Following the completion of the transaction, the chief executive officer now owns 1,771,993 shares in the company, valued at $75,734,980.82. This trade represents a 1.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 25,311 shares of company stock worth $1,088,636. Insiders own 36.00% of the company’s stock.

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.