Farther Finance Advisors LLC Acquires 1,885 Shares of Maplebear Inc. (NASDAQ:CART)

Farther Finance Advisors LLC lifted its stake in Maplebear Inc. (NASDAQ:CART) by 13.7% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 15,642 shares of the company’s stock after purchasing an additional 1,885 shares during the period. Farther Finance Advisors LLC’s holdings in Maplebear were worth $648,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Jones Financial Companies Lllp lifted its stake in Maplebear by 46.6% in the fourth quarter. Jones Financial Companies Lllp now owns 698 shares of the company’s stock valued at $29,000 after buying an additional 222 shares during the period. CIBC Asset Management Inc increased its stake in shares of Maplebear by 3.7% in the 3rd quarter. CIBC Asset Management Inc now owns 8,114 shares of the company’s stock valued at $331,000 after acquiring an additional 286 shares during the last quarter. Allworth Financial LP raised its position in shares of Maplebear by 101.4% in the 4th quarter. Allworth Financial LP now owns 834 shares of the company’s stock valued at $37,000 after acquiring an additional 420 shares during the period. Coldstream Capital Management Inc. boosted its stake in Maplebear by 1.6% during the 3rd quarter. Coldstream Capital Management Inc. now owns 31,745 shares of the company’s stock worth $1,294,000 after acquiring an additional 490 shares during the last quarter. Finally, Oppenheimer & Co. Inc. grew its holdings in Maplebear by 5.1% during the third quarter. Oppenheimer & Co. Inc. now owns 12,090 shares of the company’s stock valued at $493,000 after purchasing an additional 584 shares during the period. 63.09% of the stock is owned by institutional investors and hedge funds.

Maplebear Price Performance

Maplebear stock opened at $38.57 on Friday. The company’s 50-day moving average is $45.55 and its 200-day moving average is $43.12. The firm has a market capitalization of $10.21 billion, a PE ratio of 25.89, a P/E/G ratio of 1.19 and a beta of 1.34. Maplebear Inc. has a fifty-two week low of $29.84 and a fifty-two week high of $53.44.

Maplebear (NASDAQ:CART) last announced its quarterly earnings results on Tuesday, February 25th. The company reported $0.53 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.16. Maplebear had a return on equity of 13.78% and a net margin of 13.37%. The firm had revenue of $883.00 million for the quarter, compared to the consensus estimate of $889.98 million. As a group, analysts expect that Maplebear Inc. will post 1.43 EPS for the current year.

Insider Activity at Maplebear

In other news, CAO Alan Ramsay sold 2,314 shares of the company’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $46.28, for a total value of $107,091.92. Following the transaction, the chief accounting officer now owns 85,421 shares of the company’s stock, valued at approximately $3,953,283.88. This represents a 2.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Fidji Simo sold 20,750 shares of the stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $42.74, for a total value of $886,855.00. Following the transaction, the chief executive officer now owns 1,771,993 shares in the company, valued at approximately $75,734,980.82. This trade represents a 1.16 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 46,061 shares of company stock worth $1,987,318. Company insiders own 36.00% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on CART shares. Oppenheimer decreased their price target on shares of Maplebear from $65.00 to $60.00 and set an “outperform” rating for the company in a report on Wednesday, February 26th. Seaport Res Ptn upgraded Maplebear to a “strong-buy” rating in a report on Wednesday, February 12th. BMO Capital Markets lifted their price objective on Maplebear from $48.00 to $49.00 and gave the company a “market perform” rating in a report on Wednesday, February 26th. Bank of America increased their target price on Maplebear from $51.00 to $53.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 25th. Finally, Macquarie lifted their price target on shares of Maplebear from $52.00 to $55.00 and gave the company an “outperform” rating in a research note on Thursday, February 27th. Thirteen equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $50.52.

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.