Hillsdale Investment Management Inc. Invests $766,000 in Maplebear Inc. (NASDAQ:CART)

Hillsdale Investment Management Inc. purchased a new stake in Maplebear Inc. (NASDAQ:CART) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 18,500 shares of the company’s stock, valued at approximately $766,000.

Other institutional investors have also recently made changes to their positions in the company. Jones Financial Companies Lllp raised its position in Maplebear by 46.6% during the fourth quarter. Jones Financial Companies Lllp now owns 698 shares of the company’s stock valued at $29,000 after purchasing an additional 222 shares during the period. Allworth Financial LP increased its position in shares of Maplebear by 101.4% during the 4th quarter. Allworth Financial LP now owns 834 shares of the company’s stock valued at $37,000 after purchasing an additional 420 shares during the last quarter. CIBC Asset Management Inc raised its holdings in Maplebear by 5.4% during the 4th quarter. CIBC Asset Management Inc now owns 8,554 shares of the company’s stock valued at $354,000 after buying an additional 440 shares during the period. Coldstream Capital Management Inc. lifted its position in Maplebear by 1.6% in the third quarter. Coldstream Capital Management Inc. now owns 31,745 shares of the company’s stock worth $1,294,000 after buying an additional 490 shares during the last quarter. Finally, Pier Capital LLC boosted its stake in Maplebear by 0.4% during the third quarter. Pier Capital LLC now owns 151,604 shares of the company’s stock worth $6,176,000 after buying an additional 616 shares during the period. Institutional investors own 63.09% of the company’s stock.

Insiders Place Their Bets

In related news, CAO Alan Ramsay sold 2,314 shares of the stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $46.28, for a total value of $107,091.92. Following the completion of the transaction, the chief accounting officer now directly owns 85,421 shares of the company’s stock, valued at $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 through this hyperlink. Also, CEO Fidji Simo sold 2,033 shares of the business’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $40.00, for a total transaction of $81,320.00. Following the sale, the chief executive officer now directly owns 1,654,559 shares in the company, valued at approximately $66,182,360. This represents a 0.12 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 25,097 shares of company stock valued at $1,087,094. 36.00% of the stock is currently owned by insiders.

Maplebear Price Performance

Shares of CART stock opened at $38.90 on Monday. The stock’s 50-day moving average is $45.10 and its 200 day moving average is $43.34. Maplebear Inc. has a 1-year low of $29.84 and a 1-year high of $53.44. The company has a market cap of $10.29 billion, a P/E ratio of 26.11, a PEG ratio of 1.19 and a beta of 1.34.

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

Analyst Ratings Changes

Several equities research analysts have recently weighed in on CART shares. Wedbush reduced their target price on shares of Maplebear from $48.00 to $46.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 26th. Benchmark reissued a “hold” rating on shares of Maplebear in a research report on Wednesday, February 26th. Seaport Res Ptn upgraded Maplebear to a “strong-buy” rating in a research report on Wednesday, February 12th. Stifel Nicolaus upped their target price on Maplebear from $56.00 to $57.00 and gave the company a “buy” rating in a research note on Wednesday, February 26th. Finally, Oppenheimer decreased their price target on Maplebear from $65.00 to $60.00 and set an “outperform” rating for the company in a research note on Wednesday, February 26th. Thirteen analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Maplebear currently has an average rating of “Moderate Buy” and a consensus target price of $50.52.

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.