Maplebear Inc. $CART Shares Purchased by Northwestern Mutual Wealth Management Co.

Northwestern Mutual Wealth Management Co. increased its stake in shares of Maplebear Inc. (NASDAQ:CART) by 424.7% in the 1st quarter, Holdings Channel.com reports. The firm owned 3,148 shares of the company’s stock after purchasing an additional 2,548 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in Maplebear were worth $126,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently made changes to their positions in the company. Proathlete Wealth Management LLC purchased a new stake in shares of Maplebear during the 1st quarter worth $26,000. Brooklyn Investment Group purchased a new stake in shares of Maplebear during the 1st quarter worth $40,000. UMB Bank n.a. boosted its position in shares of Maplebear by 914.1% during the 1st quarter. UMB Bank n.a. now owns 1,004 shares of the company’s stock worth $40,000 after purchasing an additional 905 shares in the last quarter. Spire Wealth Management purchased a new stake in shares of Maplebear during the 1st quarter worth $41,000. Finally, CWM LLC boosted its position in shares of Maplebear by 35.1% during the 1st quarter. CWM LLC now owns 1,058 shares of the company’s stock worth $42,000 after purchasing an additional 275 shares in the last quarter. 63.09% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have commented on CART. Needham & Company LLC boosted their target price on shares of Maplebear from $56.00 to $66.00 and gave the stock a “buy” rating in a research report on Friday, August 8th. Morgan Stanley boosted their target price on shares of Maplebear from $45.00 to $48.00 and gave the stock an “equal weight” rating in a research report on Friday, August 15th. Sanford C. Bernstein boosted their target price on shares of Maplebear from $55.00 to $60.00 and gave the stock an “outperform” rating in a research report on Monday, July 21st. Citigroup lifted their price target on Maplebear from $57.00 to $65.00 and gave the stock a “buy” rating in a research note on Friday, August 8th. Finally, JMP Securities lifted their price target on Maplebear from $55.00 to $60.00 and gave the stock a “market outperform” rating in a research note on Friday, August 8th. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Maplebear has a consensus rating of “Moderate Buy” and a consensus price target of $55.71.

Insider Buying and Selling

In related news, General Counsel Morgan Fong sold 4,680 shares of Maplebear stock in a transaction dated Monday, July 21st. The stock was sold at an average price of $49.16, for a total transaction of $230,068.80. Following the completion of the sale, the general counsel owned 452,000 shares in the company, valued at approximately $22,220,320. This trade represents a 1.02% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Grosvenor L.P. Gcm sold 4,864,272 shares of Maplebear stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $47.75, for a total value of $232,268,988.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 4,971,102 shares of company stock worth $237,536,372. 26.00% of the stock is owned by company insiders.

Maplebear Stock Up 1.9%

NASDAQ:CART opened at $45.29 on Friday. The company has a market capitalization of $11.93 billion, a PE ratio of 26.18, a price-to-earnings-growth ratio of 1.49 and a beta of 1.21. The stock has a fifty day simple moving average of $46.85 and a 200-day simple moving average of $44.20. Maplebear Inc. has a 52-week low of $33.17 and a 52-week high of $53.50.

Maplebear (NASDAQ:CART) last posted its quarterly earnings data on Thursday, August 7th. The company reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.02. The firm had revenue of $914.00 million during the quarter, compared to analysts’ expectations of $896.55 million. Maplebear had a return on equity of 15.69% and a net margin of 13.76%.The firm’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.20 EPS. As a group, equities analysts anticipate that Maplebear Inc. will post 1.43 earnings per share for the current year.

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.