Udine Wealth Management Inc. Takes Position in Maplebear Inc. (NASDAQ:CART)

Udine Wealth Management Inc. acquired a new stake in Maplebear Inc. (NASDAQ:CARTFree Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The fund acquired 56,556 shares of the company’s stock, valued at approximately $2,109,000. Maplebear makes up 1.5% of Udine Wealth Management Inc.’s portfolio, making the stock its 17th biggest holding.

Several other hedge funds also recently modified their holdings of CART. Renaissance Capital LLC grew its position in Maplebear by 4.3% in the 1st quarter. Renaissance Capital LLC now owns 14,692 shares of the company’s stock valued at $548,000 after purchasing an additional 607 shares during the period. Parallel Advisors LLC grew its position in Maplebear by 139.3% in the 4th quarter. Parallel Advisors LLC now owns 1,065 shares of the company’s stock valued at $25,000 after purchasing an additional 620 shares during the period. Cantor Fitzgerald L. P. grew its position in Maplebear by 389.5% in the 4th quarter. Cantor Fitzgerald L. P. now owns 1,850 shares of the company’s stock valued at $43,000 after purchasing an additional 2,489 shares during the period. Kapitalo Investimentos Ltda acquired a new stake in Maplebear in the 4th quarter valued at $69,000. Finally, Amalgamated Bank acquired a new stake in Maplebear in the 4th quarter valued at $94,000. Institutional investors own 63.09% of the company’s stock.

Analyst Ratings Changes

CART has been the subject of several research reports. JPMorgan Chase & Co. lifted their price target on shares of Maplebear from $35.00 to $45.00 and gave the company an “overweight” rating in a research report on Monday, March 25th. Benchmark reaffirmed a “hold” rating on shares of Maplebear in a report on Tuesday, May 7th. Macquarie began coverage on shares of Maplebear in a report on Monday, March 25th. They set an “outperform” rating and a $42.00 price objective on the stock. Moffett Nathanson reaffirmed a “neutral” rating and set a $37.00 price objective (up from $36.00) on shares of Maplebear in a report on Thursday, April 11th. Finally, JMP Securities lifted their price objective on shares of Maplebear from $35.00 to $42.00 and gave the stock a “market outperform” rating in a report on Thursday, May 9th. Nine research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $41.25.

View Our Latest Research Report on CART

Maplebear Trading Down 0.1 %

Shares of CART traded down $0.03 during midday trading on Monday, hitting $32.11. 853,041 shares of the company traded hands, compared to its average volume of 4,325,734. The stock has a 50-day moving average of $33.45 and a 200-day moving average of $31.13. Maplebear Inc. has a one year low of $22.13 and a one year high of $42.95.

Maplebear (NASDAQ:CARTGet Free Report) last issued its quarterly earnings data on Wednesday, May 8th. The company reported $0.43 EPS for the quarter, topping the consensus estimate of $0.04 by $0.39. The business had revenue of $820.00 million for the quarter, compared to analysts’ expectations of $794.08 million. Maplebear’s revenue for the quarter was up 8.0% compared to the same quarter last year. On average, equities analysts forecast that Maplebear Inc. will post 1.02 EPS for the current fiscal year.

Insider Transactions at Maplebear

In other news, CAO Alan Ramsay sold 12,178 shares of the business’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $34.90, for a total transaction of $425,012.20. Following the completion of the transaction, the chief accounting officer now owns 118,142 shares of the company’s stock, valued at $4,123,155.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Maplebear news, CAO Alan Ramsay sold 12,178 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $34.90, for a total value of $425,012.20. Following the completion of the sale, the chief accounting officer now owns 118,142 shares of the company’s stock, valued at $4,123,155.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Nick Giovanni sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, April 17th. The stock was sold at an average price of $36.97, for a total value of $369,700.00. Following the completion of the sale, the chief financial officer now directly owns 576,977 shares of the company’s stock, valued at approximately $21,330,839.69. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 97,863 shares of company stock valued at $3,367,121. 36.00% of the stock is owned by corporate insiders.

Maplebear Profile

(Free Report)

Maplebear Inc, doing business as Instacart, provides online grocery shopping services to households in North America. It sells and delivers grocery products. The company offers its services through a mobile application and website. It also provides software-as-a-service solutions to retailers. The company was incorporated in 2012 and is based in San Francisco, California.

Featured Stories

Want to see what other hedge funds are holding CART? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Maplebear Inc. (NASDAQ:CARTFree Report).

Institutional Ownership by Quarter for Maplebear (NASDAQ:CART)

Receive News & Ratings for Maplebear Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Maplebear and related companies with MarketBeat.com's FREE daily email newsletter.