NFJ Investment Group LLC Buys Shares of 805,681 Maplebear Inc. $CART

NFJ Investment Group LLC bought a new stake in Maplebear Inc. (NASDAQ:CART) during the fourth quarter, HoldingsChannel.com reports. The institutional investor bought 805,681 shares of the company’s stock, valued at approximately $36,240,000. Maplebear accounts for approximately 1.3% of NFJ Investment Group LLC’s holdings, making the stock its 22nd largest holding.

A number of other institutional investors also recently made changes to their positions in CART. Hantz Financial Services Inc. raised its position in shares of Maplebear by 78.6% in the 3rd quarter. Hantz Financial Services Inc. now owns 884 shares of the company’s stock valued at $32,000 after purchasing an additional 389 shares in the last quarter. Allworth Financial LP raised its position in shares of Maplebear by 35.7% in the 3rd quarter. Allworth Financial LP now owns 928 shares of the company’s stock valued at $34,000 after purchasing an additional 244 shares in the last quarter. Abich Financial Wealth Management LLC acquired a new position in shares of Maplebear in the 3rd quarter valued at approximately $43,000. IFP Advisors Inc raised its position in shares of Maplebear by 761.3% in the 4th quarter. IFP Advisors Inc now owns 956 shares of the company’s stock valued at $43,000 after purchasing an additional 845 shares in the last quarter. Finally, Sunbelt Securities Inc. raised its position in shares of Maplebear by 212.7% in the 3rd quarter. Sunbelt Securities Inc. now owns 1,157 shares of the company’s stock valued at $43,000 after purchasing an additional 787 shares in the last quarter. 63.09% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have issued reports on CART. Raymond James Financial raised Maplebear from a “hold” rating to a “moderate buy” rating in a research report on Thursday, April 9th. Wells Fargo & Company upped their target price on Maplebear from $45.00 to $47.00 and gave the company an “equal weight” rating in a research report on Thursday, May 7th. Weiss Ratings upgraded Maplebear from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, May 11th. Barclays boosted their price target on Maplebear from $65.00 to $69.00 and gave the company an “overweight” rating in a report on Thursday, May 7th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $55.00 price target on shares of Maplebear in a report on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, nine have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $51.09.

Maplebear Trading Down 1.6%

Shares of NASDAQ CART opened at $41.24 on Friday. Maplebear Inc. has a twelve month low of $32.73 and a twelve month high of $53.50. The company has a market capitalization of $9.69 billion, a price-to-earnings ratio of 23.04, a price-to-earnings-growth ratio of 0.57 and a beta of 0.88. The business has a 50 day simple moving average of $40.98 and a 200-day simple moving average of $40.27.

Maplebear (NASDAQ:CART) last issued its quarterly earnings results on Wednesday, May 6th. The company reported $0.57 earnings per share for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.01). Maplebear had a net margin of 12.50% and a return on equity of 18.67%. The firm had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.01 billion. During the same quarter last year, the firm posted $0.37 earnings per share. Maplebear’s revenue was up 13.6% compared to the same quarter last year. As a group, equities analysts predict that Maplebear Inc. will post 2.45 earnings per share for the current year.

Insiders Place Their Bets

In related news, CAO Lisa Blackwood-Kapral sold 9,390 shares of the company’s stock in a transaction on Wednesday, April 15th. The stock was sold at an average price of $40.25, for a total transaction of $377,947.50. Following the completion of the transaction, the chief accounting officer directly owned 58,971 shares in the company, valued at $2,373,582.75. This represents a 13.74% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ravi Gupta sold 181,000 shares of the company’s stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $41.51, for a total value of $7,513,310.00. Following the transaction, the director owned 741,523 shares of the company’s stock, valued at approximately $30,780,619.73. The trade was a 19.62% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 199,780 shares of company stock valued at $8,255,026. 24.00% of the stock is owned by company insiders.

Maplebear Company Profile

Maplebear, Inc, doing business as Instacart, operates a leading online grocery and essentials marketplace that connects consumers, retail partners and personal shoppers through its digital platform. The company enables customers to order groceries, household items and specialty products for same-day or scheduled delivery, as well as in-store pickup. By integrating its technology with retailers’ existing inventory and point-of-sale systems, Maplebear streamlines the shopping experience and provides real-time availability and pricing.

Founded in 2012 and headquartered in San Francisco, Maplebear has grown from a regional startup to a publicly traded company listed on NASDAQ under the ticker CART.