Atria Wealth Solutions Inc. Boosts Position in Maplebear Inc. (NASDAQ:CART)

Atria Wealth Solutions Inc. increased its position in Maplebear Inc. (NASDAQ:CART) by 10.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 17,765 shares of the company’s stock after purchasing an additional 1,738 shares during the period. Atria Wealth Solutions Inc.’s holdings in Maplebear were worth $736,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CART. Pacer Advisors Inc. purchased a new stake in Maplebear in the third quarter worth $158,701,000. Geode Capital Management LLC grew its stake in Maplebear by 151.7% in the third quarter. Geode Capital Management LLC now owns 2,732,738 shares of the company’s stock worth $111,361,000 after purchasing an additional 1,647,081 shares during the period. Charles Schwab Investment Management Inc. grew its stake in Maplebear by 5,191.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,489,655 shares of the company’s stock worth $60,689,000 after purchasing an additional 1,461,501 shares during the period. Southpoint Capital Advisors LP grew its stake in Maplebear by 56.3% in the third quarter. Southpoint Capital Advisors LP now owns 2,500,000 shares of the company’s stock worth $101,850,000 after purchasing an additional 900,000 shares during the period. Finally, Simcoe Capital Management LLC grew its stake in Maplebear by 216.5% in the third quarter. Simcoe Capital Management LLC now owns 1,225,690 shares of the company’s stock worth $49,935,000 after purchasing an additional 838,470 shares during the period. 63.09% of the stock is owned by hedge funds and other institutional investors.

Maplebear Stock Performance

CART stock opened at $48.78 on Wednesday. Maplebear Inc. has a fifty-two week low of $29.72 and a fifty-two week high of $53.44. The business’s 50-day moving average is $46.46 and its two-hundred day moving average is $42.68. The company has a market cap of $12.53 billion, a price-to-earnings ratio of 32.74, a P/E/G ratio of 1.19 and a beta of 1.07.

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

Insiders Place Their Bets

In related news, CEO Fidji Simo sold 20,750 shares of the stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $42.74, for a total transaction of $886,855.00. Following the completion of the sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Alan Ramsay sold 2,247 shares of the stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $42.14, for a total value of $94,688.58. Following the sale, the chief accounting officer now owns 87,735 shares of the company’s stock, valued at $3,697,152.90. This represents a 2.50 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 25,311 shares of company stock worth $1,088,636 over the last quarter. 36.00% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. JPMorgan Chase & Co. increased their target price on Maplebear from $47.00 to $52.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. BMO Capital Markets increased their target price on Maplebear from $39.00 to $48.00 and gave the stock a “market perform” rating in a research note on Wednesday, November 13th. 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. Barclays increased their target price on Maplebear from $48.00 to $56.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. Finally, Oppenheimer increased their target price on Maplebear from $55.00 to $60.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Thirteen analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $49.04.

Maplebear Company 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.