15,995 Shares in Maplebear Inc. $CART Bought by United Capital Financial Advisors LLC

United Capital Financial Advisors LLC purchased a new position in shares of Maplebear Inc. (NASDAQ:CART) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 15,995 shares of the company’s stock, valued at approximately $757,000.

Other large investors have also recently added to or reduced their stakes in the company. Pinnacle Bancorp Inc. bought a new position in shares of Maplebear in the 1st quarter valued at about $25,000. PenderFund Capital Management Ltd. acquired a new stake in Maplebear in the 4th quarter valued at about $27,000. Allworth Financial LP lifted its stake in 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 during the last quarter. IFP Advisors Inc grew its holdings in Maplebear by 761.3% during the fourth quarter. IFP Advisors Inc now owns 956 shares of the company’s stock worth $43,000 after purchasing an additional 845 shares during the period. Finally, Sunbelt Securities Inc. grew its holdings in Maplebear by 212.7% during the third quarter. Sunbelt Securities Inc. now owns 1,157 shares of the company’s stock worth $43,000 after purchasing an additional 787 shares during the period. Institutional investors and hedge funds own 63.09% of the company’s stock.

Maplebear Stock Performance

Maplebear stock opened at $50.54 on Monday. Maplebear Inc. has a 12 month low of $32.73 and a 12 month high of $52.05. The stock’s 50 day moving average is $47.35 and its 200-day moving average is $42.24. The company has a market capitalization of $11.70 billion, a price-to-earnings ratio of 27.62, a PEG ratio of 0.74 and a beta of 0.78.

Maplebear (NASDAQ:CART) last released its quarterly earnings results on Thursday, August 6th. The company reported $0.45 earnings per share for the quarter, missing the consensus estimate of $0.54 by ($0.09). The firm had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.03 billion. Maplebear had a return on equity of 20.19% and a net margin of 11.97%.The business’s revenue for the quarter was up 14.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.41 earnings per share. As a group, equities research analysts predict that Maplebear Inc. will post 2.33 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. JPMorgan Chase & Co. increased their price target on Maplebear from $55.00 to $62.00 and gave the company an “overweight” rating in a research note on Friday, August 7th. Citigroup lifted their price objective on shares of Maplebear from $50.00 to $58.00 and gave the stock a “buy” rating in a research report on Monday, August 10th. Oppenheimer upped their price objective on shares of Maplebear from $60.00 to $65.00 and gave the company an “outperform” rating in a report on Friday, August 7th. Cantor Fitzgerald increased their price objective on shares of Maplebear from $56.00 to $63.00 and gave the company an “overweight” rating in a research report on Friday, August 7th. Finally, Benchmark raised their target price on shares of Maplebear from $55.00 to $63.00 and gave the stock a “buy” rating in a research note on Friday, August 7th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat, Maplebear has a consensus rating of “Moderate Buy” and an average price target of $55.90.

Insiders Place Their Bets

In other Maplebear news, insider Morgan Fong sold 18,390 shares of the stock in a transaction on Monday, August 24th. The stock was sold at an average price of $49.96, for a total transaction of $918,764.40. Following the transaction, the insider owned 529,911 shares in the company, valued at $26,474,353.56. This trade represents a 3.35% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ravi Gupta sold 181,000 shares of Maplebear 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 sale, the director directly owned 741,523 shares of the company’s stock, valued at $30,780,619.73. This represents a 19.62% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 349,390 shares of company stock worth $16,023,574. Insiders own 24.00% of the company’s stock.

Maplebear 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.