SG Americas Securities LLC Takes $285,000 Position in Maplebear Inc. $CART

SG Americas Securities LLC purchased a new position in Maplebear Inc. (NASDAQ:CART) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 6,302 shares of the company’s stock, valued at approximately $285,000.

Several other institutional investors and hedge funds have also bought and sold shares of CART. CWM LLC raised 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 during the period. Cetera Investment Advisers increased its holdings in Maplebear by 333.5% in the 1st quarter. Cetera Investment Advisers now owns 35,305 shares of the company’s stock worth $1,408,000 after acquiring an additional 27,161 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Maplebear by 12.3% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 50,058 shares of the company’s stock valued at $1,997,000 after acquiring an additional 5,500 shares during the period. LPL Financial LLC purchased a new stake in Maplebear during the first quarter valued at about $2,161,000. Finally, US Bancorp DE boosted its position in Maplebear by 13.4% during the first quarter. US Bancorp DE now owns 14,832 shares of the company’s stock worth $592,000 after purchasing an additional 1,755 shares during the period. 63.09% of the stock is owned by institutional investors.

Insider Activity at Maplebear

In other Maplebear news, CEO Chris Rogers sold 9,259 shares of Maplebear stock in a transaction that occurred on Monday, September 22nd. The shares were sold at an average price of $42.37, for a total transaction of $392,303.83. Following the completion of the sale, the chief executive officer directly owned 739,880 shares in the company, valued at $31,348,715.60. The trade was a 1.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Fidji Simo sold 1,014 shares of the business’s stock in a transaction that occurred on Thursday, October 16th. The stock was sold at an average price of $40.00, for a total transaction of $40,560.00. Following the completion of the transaction, the director directly owned 569,742 shares of the company’s stock, valued at approximately $22,789,680. This represents a 0.18% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 27,556 shares of company stock valued at $1,179,482 over the last three months. 26.00% of the stock is owned by corporate insiders.

Maplebear Stock Performance

NASDAQ:CART opened at $42.02 on Friday. Maplebear Inc. has a 52-week low of $34.78 and a 52-week high of $53.50. The stock has a fifty day moving average of $39.32 and a 200 day moving average of $43.74. The firm has a market capitalization of $11.03 billion, a price-to-earnings ratio of 23.09, a P/E/G ratio of 1.37 and a beta of 1.10.

Maplebear (NASDAQ:CART) last released its quarterly earnings results on Monday, November 10th. The company reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.01. The firm had revenue of $939.00 million for the quarter, compared to analysts’ expectations of $933.76 million. Maplebear had a return on equity of 15.72% and a net margin of 14.09%.The company’s revenue was up 10.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.42 EPS. Equities analysts forecast that Maplebear Inc. will post 1.43 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on CART shares. Wedbush reissued an “underperform” rating and issued a $42.00 price target (down previously from $55.00) on shares of Maplebear in a research report on Thursday, August 21st. Benchmark dropped their target price on Maplebear from $67.00 to $60.00 and set a “buy” rating on the stock in a research report on Tuesday, November 11th. Morgan Stanley lifted their price target on Maplebear from $45.00 to $48.00 and gave the company an “equal weight” rating in a research report on Friday, August 15th. BTIG Research reiterated a “neutral” rating and set a $55.00 price objective on shares of Maplebear in a research note on Tuesday, September 30th. Finally, Needham & Company LLC reduced their target price on Maplebear from $66.00 to $50.00 and set a “buy” rating for the company in a report on Tuesday, November 11th. Two analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $51.40.

About Maplebear

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.