Maplebear Inc. $CART Position Lifted by Atria Wealth Solutions Inc.

Atria Wealth Solutions Inc. raised its stake in shares of Maplebear Inc. (NASDAQ:CART) by 2.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 20,837 shares of the company’s stock after acquiring an additional 590 shares during the quarter. Atria Wealth Solutions Inc.’s holdings in Maplebear were worth $983,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Principal Financial Group Inc. lifted its position in shares of Maplebear by 4,154.7% in the 1st quarter. Principal Financial Group Inc. now owns 372,581 shares of the company’s stock worth $14,862,000 after buying an additional 363,824 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Maplebear by 18.6% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,056 shares of the company’s stock worth $82,000 after buying an additional 322 shares during the last quarter. Cambridge Investment Research Advisors Inc. lifted its position in shares of Maplebear by 7.6% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 6,166 shares of the company’s stock worth $246,000 after buying an additional 433 shares during the last quarter. Golden State Wealth Management LLC lifted its position in shares of Maplebear by 100.0% in the 1st quarter. Golden State Wealth Management LLC now owns 1,066 shares of the company’s stock worth $43,000 after buying an additional 533 shares during the last quarter. Finally, New York State Teachers Retirement System lifted its position in shares of Maplebear by 542.8% in the 1st quarter. New York State Teachers Retirement System now owns 101,720 shares of the company’s stock worth $4,058,000 after buying an additional 85,896 shares during the last quarter. 63.09% of the stock is currently owned by institutional investors.

Maplebear Price Performance

Shares of CART opened at $38.49 on Friday. Maplebear Inc. has a one year low of $34.87 and a one year high of $53.50. The company has a 50-day moving average of $42.87 and a two-hundred day moving average of $44.18. The stock has a market cap of $10.14 billion, a price-to-earnings ratio of 22.25, a PEG ratio of 1.20 and a beta of 1.10.

Maplebear (NASDAQ:CART) last announced its earnings results on Thursday, August 7th. The company reported $0.41 EPS for the quarter, topping the consensus estimate of $0.39 by $0.02. Maplebear had a net margin of 13.76% and a return on equity of 15.69%. The company had revenue of $914.00 million during the quarter, compared to analysts’ expectations of $896.55 million. During the same period last year, the company posted $0.20 earnings per share. The business’s revenue for the quarter was up 11.1% on a year-over-year basis. Analysts anticipate that Maplebear Inc. will post 1.43 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on CART shares. Needham & Company LLC raised their price target on shares of Maplebear from $56.00 to $66.00 and gave the stock a “buy” rating in a research report on Friday, August 8th. Robert W. Baird lowered their target price on shares of Maplebear from $60.00 to $50.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 1st. Jefferies Financial Group lowered their price objective on shares of Maplebear from $55.00 to $43.00 and set a “hold” rating on the stock in a research note on Friday. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Maplebear in a research note on Tuesday. Finally, BTIG Research reaffirmed a “neutral” rating and issued a $55.00 price objective on shares of Maplebear in a research note on Tuesday, September 30th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $52.40.

Insider Activity

In other Maplebear news, CEO Chris Rogers sold 9,259 shares of the firm’s stock in a transaction dated Monday, September 22nd. The shares were sold at an average price of $42.37, for a total value of $392,303.83. Following the completion of the transaction, the chief executive officer directly owned 739,880 shares in the company, valued at $31,348,715.60. This trade represents a 1.24% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Grosvenor L.P. Gcm sold 4,864,272 shares of the firm’s stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $47.75, for a total transaction of $232,268,988.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 4,966,162 shares of company stock valued at $237,201,443. Corporate insiders own 26.00% of the company’s stock.

Maplebear Company Profile

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.