Cullen Frost Bankers Inc. Purchases Shares of 1,500 Maplebear Inc. (NASDAQ:CART)

Cullen Frost Bankers Inc. bought a new position in shares of Maplebear Inc. (NASDAQ:CART) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 1,500 shares of the company’s stock, valued at approximately $62,000.

Other hedge funds also recently modified their holdings of the company. Jones Financial Companies Lllp lifted its stake in shares of Maplebear by 46.6% during the 4th quarter. Jones Financial Companies Lllp now owns 698 shares of the company’s stock worth $29,000 after buying an additional 222 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of Maplebear during the 3rd quarter worth about $33,000. Allworth Financial LP lifted its stake in shares of Maplebear by 101.4% during the 4th quarter. Allworth Financial LP now owns 834 shares of the company’s stock worth $37,000 after buying an additional 420 shares during the last quarter. Huntington National Bank acquired a new stake in Maplebear in the 3rd quarter worth about $54,000. Finally, Newbridge Financial Services Group Inc. acquired a new stake in Maplebear in the 4th quarter worth about $151,000. Institutional investors and hedge funds own 63.09% of the company’s stock.

Wall Street Analyst Weigh In

CART has been the subject of several analyst reports. Loop Capital dropped their price objective on shares of Maplebear from $56.00 to $52.00 and set a “buy” rating for the company in a research note on Thursday. Seaport Res Ptn upgraded shares of Maplebear to a “strong-buy” rating in a research note on Wednesday, February 12th. Stifel Nicolaus lifted their price objective on shares of Maplebear from $56.00 to $57.00 and gave the stock a “buy” rating in a research note on Wednesday, February 26th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Maplebear in a research note on Tuesday, December 3rd. They issued a “hold” rating and a $37.00 price objective for the company. Finally, Benchmark reiterated a “hold” rating on shares of Maplebear in a research note on Wednesday, February 26th. Thirteen research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Maplebear has a consensus rating of “Moderate Buy” and an average price target of $50.21.

Insider Buying and Selling

In other news, CAO Alan Ramsay sold 2,247 shares of the business’s stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $42.14, for a total value of $94,688.58. Following the transaction, the chief accounting officer now owns 87,735 shares in the company, valued at approximately $3,697,152.90. The trade was a 2.50 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Fidji Simo sold 20,750 shares of the business’s stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $43.31, for a total transaction of $898,682.50. Following the completion of the transaction, the chief executive officer now owns 1,662,692 shares in the company, valued at $72,011,190.52. This trade represents a 1.23 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 46,061 shares of company stock worth $1,987,318 in the last ninety days. Company insiders own 36.00% of the company’s stock.

Maplebear Price Performance

NASDAQ:CART opened at $39.90 on Monday. The firm’s 50 day simple moving average is $45.99 and its 200 day simple moving average is $43.08. Maplebear Inc. has a one year low of $29.84 and a one year high of $53.44. The company has a market cap of $10.56 billion, a PE ratio of 26.78, a P/E/G ratio of 1.19 and a beta of 1.34.

Maplebear (NASDAQ:CART) last posted its earnings results on Tuesday, February 25th. The company reported $0.53 EPS for the quarter, topping the consensus estimate of $0.37 by $0.16. Maplebear had a net margin of 13.37% and a return on equity of 13.78%. The business had revenue of $883.00 million for the quarter, compared to the consensus estimate of $889.98 million. Equities research analysts expect that Maplebear Inc. will post 1.43 EPS for the current year.

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.