Bokf Na Invests $2.17 Million in Maplebear Inc. (NASDAQ:CART)

Bokf Na bought a new position in Maplebear Inc. (NASDAQ:CART) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 58,799 shares of the company’s stock, valued at approximately $2,167,000.

Several other institutional investors have also made changes to their positions in CART. International Assets Investment Management LLC acquired a new stake in shares of Maplebear during the fourth quarter worth approximately $110,000. Thrive Capital Management LLC acquired a new stake in shares of Maplebear during the third quarter worth approximately $47,818,000. Mackenzie Financial Corp acquired a new stake in shares of Maplebear during the fourth quarter worth approximately $8,208,000. Federated Hermes Inc. boosted its holdings in shares of Maplebear by 190.2% during the fourth quarter. Federated Hermes Inc. now owns 464,355 shares of the company’s stock worth $10,898,000 after purchasing an additional 304,355 shares during the period. Finally, New York State Common Retirement Fund acquired a new stake in shares of Maplebear during the fourth quarter worth approximately $293,000. 63.09% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. Stifel Nicolaus lifted their target price on shares of Maplebear from $44.00 to $45.00 and gave the company a “buy” rating in a research note on Thursday, May 9th. Macquarie reiterated an “outperform” rating and issued a $44.00 target price on shares of Maplebear in a research note on Friday. Oppenheimer lifted their target price on shares of Maplebear from $36.00 to $48.00 and gave the company an “outperform” rating in a research note on Monday, April 29th. Fox Advisors lowered shares of Maplebear from an “overweight” rating to an “equal weight” rating in a research report on Monday, April 1st. Finally, Morgan Stanley lifted their price target on shares of Maplebear from $43.00 to $45.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 23rd. Eleven analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Maplebear has an average rating of “Moderate Buy” and a consensus target price of $41.60.

Maplebear Trading Up 0.7 %

Maplebear stock traded up $0.23 on Friday, hitting $34.32. The company’s stock had a trading volume of 1,459,168 shares, compared to its average volume of 3,340,990. The company has a fifty day moving average price of $33.18 and a 200-day moving average price of $32.56. Maplebear Inc. has a one year low of $22.13 and a one year high of $42.95.

Maplebear (NASDAQ:CART) last issued its earnings results on Wednesday, May 8th. The company reported $0.43 EPS for the quarter, beating the consensus estimate of $0.04 by $0.39. The firm had revenue of $820.00 million during the quarter, compared to analyst estimates of $794.08 million. The business’s revenue was up 8.0% on a year-over-year basis. On average, analysts expect that Maplebear Inc. will post 1.02 EPS for the current year.

Insider Activity

In other news, CEO Fidji Simo sold 13,206 shares of the business’s stock in a transaction on Monday, April 29th. The shares were sold at an average price of $34.93, for a total value of $461,285.58. Following the sale, the chief executive officer now owns 2,132,845 shares in the company, valued at approximately $74,500,275.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Fidji Simo sold 13,206 shares of the company’s stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $34.93, for a total transaction of $461,285.58. Following the transaction, the chief executive officer now owns 2,132,845 shares in the company, valued at approximately $74,500,275.85. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Alan Ramsay sold 12,178 shares of the company’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $34.90, for a total transaction of $425,012.20. Following the transaction, the chief accounting officer now owns 118,142 shares in the company, valued at approximately $4,123,155.80. The disclosure for this sale can be found here. In the last quarter, insiders have sold 82,008 shares of company stock worth $2,795,362. Corporate insiders own 36.00% of the company’s stock.

About Maplebear

Maplebear Inc, doing business as Instacart, provides online grocery shopping services to households in North America. It sells and delivers grocery products. The company offers its services through a mobile application and website. It also provides software-as-a-service solutions to retailers. The company was incorporated in 2012 and is based in San Francisco, California.