Paragon Capital Management Ltd Has $528,000 Stock Holdings in Maplebear Inc. (NASDAQ:CART)

Paragon Capital Management Ltd increased its stake in shares of Maplebear Inc. (NASDAQ:CART) by 33.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,740 shares of the company’s stock after purchasing an additional 3,185 shares during the quarter. Paragon Capital Management Ltd’s holdings in Maplebear were worth $528,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the stock. Wealth Enhancement Advisory Services LLC bought a new stake in Maplebear during the 4th quarter worth approximately $1,166,000. Watts Gwilliam & Co. LLC grew its holdings in Maplebear by 39.0% during the 4th quarter. Watts Gwilliam & Co. LLC now owns 7,300 shares of the company’s stock worth $313,000 after acquiring an additional 2,047 shares during the last quarter. Nordea Investment Management AB bought a new stake in Maplebear during the 4th quarter worth approximately $2,078,000. Lord Abbett & CO. LLC grew its holdings in Maplebear by 370.9% during the 3rd quarter. Lord Abbett & CO. LLC now owns 859,006 shares of the company’s stock worth $34,996,000 after acquiring an additional 676,605 shares during the last quarter. Finally, Franklin Resources Inc. grew its holdings in Maplebear by 182.0% during the 3rd quarter. Franklin Resources Inc. now owns 272,928 shares of the company’s stock worth $11,692,000 after acquiring an additional 176,137 shares during the last quarter. 63.09% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Maplebear news, CAO Alan Ramsay sold 2,247 shares of the business’s stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $42.14, for a total value of $94,688.58. Following the completion of the transaction, the chief accounting officer now owns 87,735 shares of the company’s stock, valued at $3,697,152.90. The trade was a 2.50 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Morgan Fong sold 29,253 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $48.03, for a total transaction of $1,405,021.59. Following the completion of the transaction, the general counsel now directly owns 258,406 shares of the company’s stock, valued at approximately $12,411,240.18. This represents a 10.17 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 112,128 shares of company stock valued at $4,980,404 in the last quarter. Corporate insiders own 36.00% of the company’s stock.

Maplebear Stock Down 2.9 %

CART opened at $45.11 on Thursday. The company has a market capitalization of $11.59 billion, a price-to-earnings ratio of 30.28, a PEG ratio of 1.00 and a beta of 1.04. The firm has a 50-day moving average price of $43.61 and a 200-day moving average price of $39.57. Maplebear Inc. has a twelve month low of $22.70 and a twelve month high of $50.01.

Maplebear (NASDAQ:CART) last issued its quarterly earnings data on Tuesday, November 12th. The company reported $0.42 EPS for the quarter, beating the consensus estimate of $0.22 by $0.20. The company had revenue of $852.00 million during the quarter, compared to analysts’ expectations of $844.03 million. Maplebear had a net margin of 13.37% and a return on equity of 13.78%. Maplebear’s revenue for the quarter was up 11.5% on a year-over-year basis. During the same quarter in the previous year, the company earned ($20.86) earnings per share. On average, sell-side analysts expect that Maplebear Inc. will post 1.4 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on CART shares. BTIG Research raised shares of Maplebear from a “neutral” rating to a “buy” rating and set a $58.00 price objective on the stock in a research note on Tuesday. Oppenheimer upped their price objective on shares of Maplebear from $55.00 to $60.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. JPMorgan Chase & Co. increased their target price on shares of Maplebear from $47.00 to $52.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. Raymond James began coverage on shares of Maplebear in a report on Tuesday, September 24th. They issued a “market perform” rating for the company. Finally, Mizuho began coverage on shares of Maplebear in a report on Tuesday. They issued an “outperform” rating and a $55.00 price target for the company. Thirteen investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Maplebear has a consensus rating of “Moderate Buy” and an average target price of $48.31.

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.