Maplebear Inc. $CART Shares Purchased by Harbor Capital Advisors Inc.

Harbor Capital Advisors Inc. grew its holdings in shares of Maplebear Inc. (NASDAQ:CART) by 24.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 106,970 shares of the company’s stock after buying an additional 20,862 shares during the quarter. Harbor Capital Advisors Inc.’s holdings in Maplebear were worth $4,839,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Proathlete Wealth Management LLC acquired a new position in shares of Maplebear during the 1st quarter valued at $26,000. Brooklyn Investment Group purchased a new position in Maplebear in the first quarter valued at about $40,000. UMB Bank n.a. lifted its stake in shares of Maplebear by 914.1% during the first quarter. UMB Bank n.a. now owns 1,004 shares of the company’s stock worth $40,000 after purchasing an additional 905 shares in the last quarter. Spire Wealth Management purchased a new stake in shares of Maplebear in the first quarter worth about $41,000. Finally, CWM LLC grew its stake in shares of Maplebear by 35.1% in the first quarter. CWM LLC now owns 1,058 shares of the company’s stock valued at $42,000 after buying an additional 275 shares in the last quarter. Institutional investors and hedge funds own 63.09% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Morgan Stanley boosted their price target on Maplebear from $45.00 to $48.00 and gave the stock an “equal weight” rating in a research report on Friday, August 15th. Barclays lifted their price objective on shares of Maplebear from $61.00 to $65.00 and gave the company an “overweight” rating in a research note on Friday, August 8th. Jefferies Financial Group upped their target price on shares of Maplebear from $50.00 to $55.00 and gave the company a “hold” rating in a research note on Monday, August 11th. Wells Fargo & Company lifted their price target on shares of Maplebear from $55.00 to $57.00 and gave the stock an “equal weight” rating in a research note on Friday, September 5th. Finally, Citigroup boosted their price objective on shares of Maplebear from $57.00 to $65.00 and gave the stock a “buy” rating in a report on Friday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Maplebear presently has an average rating of “Moderate Buy” and an average target price of $55.58.

Maplebear Price Performance

NASDAQ CART opened at $45.75 on Wednesday. Maplebear Inc. has a 12 month low of $35.14 and a 12 month high of $53.50. The company has a market capitalization of $12.05 billion, a P/E ratio of 26.45, a PEG ratio of 1.55 and a beta of 1.21. The company’s 50 day simple moving average is $46.71 and its 200 day simple moving average is $44.10.

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

Insiders Place Their Bets

In other Maplebear news, General Counsel Morgan Fong sold 4,680 shares of the firm’s stock in a transaction dated Monday, July 21st. The stock was sold at an average price of $49.16, for a total transaction of $230,068.80. Following the completion of the sale, the general counsel directly owned 452,000 shares in the company, valued at approximately $22,220,320. This trade represents a 1.02% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Fidji Simo sold 6,640 shares of Maplebear stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $50.00, for a total value of $332,000.00. Following the transaction, the chief executive officer directly owned 1,958,805 shares in the company, valued at approximately $97,940,250. This trade represents a 0.34% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 4,971,102 shares of company stock valued at $237,536,372 in the last 90 days. Insiders own 26.00% of the company’s stock.

Maplebear 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.