SG Americas Securities LLC Invests $1.40 Million in Maplebear Inc. (NASDAQ:CART)

SG Americas Securities LLC acquired a new stake in shares of Maplebear Inc. (NASDAQ:CART) during the fourth quarter, HoldingsChannel reports. The fund acquired 33,814 shares of the company’s stock, valued at approximately $1,401,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CART. Wilmington Savings Fund Society FSB purchased a new stake in Maplebear during the 3rd quarter valued at $33,000. Huntington National Bank purchased a new position in shares of Maplebear in the 3rd quarter worth $54,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Maplebear in the third quarter worth $74,000. Quarry LP increased its position in Maplebear by 269.5% during the second quarter. Quarry LP now owns 3,928 shares of the company’s stock valued at $126,000 after acquiring an additional 2,865 shares during the last quarter. Finally, Vinva Investment Management Ltd bought a new position in Maplebear in the third quarter valued at about $212,000. Institutional investors own 63.09% of the company’s stock.

Analyst Ratings Changes

CART has been the subject of several research reports. Jefferies Financial Group initiated coverage on shares of Maplebear in a research report on Wednesday, October 16th. They set a “hold” rating and a $43.00 price target for the company. JMP Securities upped their target price on shares of Maplebear from $42.00 to $51.00 and gave the company a “market outperform” rating in a report on Wednesday, November 13th. Cantor Fitzgerald reiterated an “overweight” rating and set a $45.00 price target on shares of Maplebear in a research note on Monday, October 7th. Deutsche Bank Aktiengesellschaft began coverage on shares of Maplebear in a research report on Tuesday, December 3rd. They set a “hold” rating and a $37.00 price objective for the company. Finally, Morgan Stanley raised their target price on Maplebear from $41.00 to $44.00 and gave the stock an “equal weight” rating in a report on Monday, January 13th. Thirteen research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $48.96.

Maplebear Trading Down 0.7 %

NASDAQ:CART opened at $45.65 on Tuesday. The business’s 50-day moving average is $43.58 and its 200 day moving average is $40.26. Maplebear Inc. has a 12 month low of $23.59 and a 12 month high of $50.01. The company has a market capitalization of $11.73 billion, a P/E ratio of 30.64, a P/E/G ratio of 1.01 and a beta of 1.04.

Maplebear (NASDAQ:CART) last issued its quarterly earnings data on Tuesday, November 12th. The company reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.20. The business had revenue of $852.00 million for the quarter, compared to analysts’ expectations of $844.03 million. Maplebear had a return on equity of 13.78% and a net margin of 13.37%. The company’s revenue for the quarter was up 11.5% on a year-over-year basis. During the same period in the prior year, the firm earned ($20.86) EPS. On average, research analysts forecast that Maplebear Inc. will post 1.42 earnings per share for the current year.

Insider Activity at Maplebear

In other news, General Counsel Morgan Fong sold 29,253 shares of the business’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $48.03, for a total value of $1,405,021.59. Following the sale, the general counsel now directly owns 258,406 shares in the company, valued at $12,411,240.18. The trade was a 10.17 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Alan Ramsay sold 2,314 shares of the company’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $46.28, for a total transaction of $107,091.92. Following the sale, the chief accounting officer now owns 85,421 shares in the company, valued at $3,953,283.88. This represents a 2.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 79,808 shares of company stock valued at $3,569,808 over the last 90 days. 36.00% of the stock is owned by corporate insiders.

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.