Townsquare Capital LLC Makes New Investment in Maplebear Inc. (NASDAQ:CART)

Townsquare Capital LLC purchased a new stake in shares of Maplebear Inc. (NASDAQ:CART) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 8,292 shares of the company’s stock, valued at approximately $343,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of CART. Jones Financial Companies Lllp boosted its holdings in shares of Maplebear by 46.6% during the fourth quarter. Jones Financial Companies Lllp now owns 698 shares of the company’s stock worth $29,000 after purchasing an additional 222 shares during the period. Wilmington Savings Fund Society FSB purchased a new position in shares of Maplebear during the third quarter valued at approximately $33,000. Allworth Financial LP raised its holdings in shares of Maplebear by 101.4% during the fourth quarter. Allworth Financial LP now owns 834 shares of the company’s stock valued at $37,000 after acquiring an additional 420 shares in the last quarter. Cullen Frost Bankers Inc. purchased a new stake in Maplebear in the fourth quarter worth $62,000. Finally, PNC Financial Services Group Inc. increased its position in Maplebear by 243.3% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,399 shares of the company’s stock valued at $141,000 after purchasing an additional 2,409 shares during the period. 63.09% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, CEO Fidji Simo sold 8,133 shares of the company’s stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $41.60, for a total value of $338,332.80. Following the completion of the transaction, the chief executive officer now owns 1,646,426 shares of the company’s stock, valued at $68,491,321.60. This represents a 0.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders sold a total of 30,916 shares of company stock worth $1,318,335 over the last three months. 36.00% of the stock is currently owned by company insiders.

Maplebear Price Performance

NASDAQ:CART opened at $41.79 on Tuesday. The firm has a market capitalization of $10.97 billion, a price-to-earnings ratio of 28.05, a price-to-earnings-growth ratio of 1.19 and a beta of 1.20. The business has a fifty day moving average price of $41.81 and a 200-day moving average price of $43.57. Maplebear Inc. has a one year low of $29.84 and a one year high of $53.44.

Maplebear (NASDAQ:CART) last posted its quarterly earnings data on Tuesday, February 25th. The company reported $0.53 earnings per share for the quarter, beating analysts’ consensus estimates of $0.37 by $0.16. The firm had revenue of $883.00 million for 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%. On average, equities research analysts expect that Maplebear Inc. will post 1.43 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Mizuho cut their target price on shares of Maplebear from $55.00 to $52.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 26th. Benchmark restated a “hold” rating on shares of Maplebear in a research note on Wednesday, February 26th. Wells Fargo & Company decreased their price objective on Maplebear from $47.00 to $44.00 and set an “equal weight” rating for the company in a report on Thursday, April 3rd. BMO Capital Markets upped their target price on shares of Maplebear from $48.00 to $49.00 and gave the stock a “market perform” rating in a research report on Wednesday, February 26th. Finally, Barclays lifted their price target on shares of Maplebear from $56.00 to $58.00 and gave the company an “overweight” rating in a research report on Wednesday, February 26th. Twelve investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $50.61.

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.