Adero Partners LLC Purchases 828 Shares of Maplebear Inc. (NASDAQ:CART)

Adero Partners LLC grew its position in shares of Maplebear Inc. (NASDAQ:CART) by 7.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 12,019 shares of the company’s stock after purchasing an additional 828 shares during the period. Adero Partners LLC’s holdings in Maplebear were worth $498,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CART. Wilmington Savings Fund Society FSB purchased a new position in Maplebear in the 3rd quarter worth $33,000. Huntington National Bank bought a new position in shares of Maplebear during the third quarter valued at about $54,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Maplebear in the third quarter worth about $74,000. KBC Group NV lifted its stake in shares of Maplebear by 56.5% in the 4th quarter. KBC Group NV now owns 3,808 shares of the company’s stock valued at $158,000 after acquiring an additional 1,374 shares during the last quarter. Finally, Williams & Novak LLC bought a new stake in shares of Maplebear in the 4th quarter valued at about $208,000. 63.09% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CART has been the topic of several recent research reports. Macquarie raised their price target on Maplebear from $50.00 to $52.00 and gave the stock an “outperform” rating in a research report on Thursday, November 14th. BMO Capital Markets raised their target price on shares of Maplebear from $39.00 to $48.00 and gave the stock a “market perform” rating in a report on Wednesday, November 13th. Loop Capital upped their price target on shares of Maplebear from $49.00 to $56.00 and gave the company a “buy” rating in a report on Monday, December 9th. Deutsche Bank Aktiengesellschaft started coverage on shares of Maplebear in a report on Tuesday, December 3rd. They issued a “hold” rating and a $37.00 price target on the stock. Finally, Barclays upped their price objective on shares of Maplebear from $48.00 to $56.00 and gave the company an “overweight” rating in a research note on Wednesday, November 13th. Thirteen equities research 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. According to data from MarketBeat, Maplebear currently has a consensus rating of “Moderate Buy” and an average target price of $48.96.

Maplebear Stock Down 0.8 %

CART stock opened at $48.49 on Thursday. The business has a 50 day moving average of $44.40 and a 200 day moving average of $40.93. The firm has a market cap of $12.46 billion, a PE ratio of 32.54, a price-to-earnings-growth ratio of 1.09 and a beta of 1.07. Maplebear Inc. has a twelve month low of $23.59 and a twelve month high of $50.01.

Maplebear (NASDAQ:CART) last released its earnings results on Tuesday, November 12th. The company reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $0.20. The firm 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 quarterly revenue was up 11.5% on a year-over-year basis. During the same period in the prior year, the firm posted ($20.86) earnings per share. On average, research analysts expect that Maplebear Inc. will post 1.43 earnings per share for the current fiscal year.

Insider Activity at Maplebear

In other news, CAO Alan Ramsay sold 2,247 shares of the stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $41.06, for a total transaction of $92,261.82. Following the sale, the chief accounting officer now owns 89,982 shares in the company, valued at $3,694,660.92. This represents a 2.44 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Fidji Simo sold 20,750 shares of the firm’s stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $42.74, for a total transaction of $886,855.00. Following the sale, the chief executive officer now directly owns 1,771,993 shares of the company’s stock, valued at $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 ninety days, insiders have sold 50,555 shares of company stock valued at $2,164,787. 36.00% of the stock is owned by 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.