First Trust Advisors LP Increases Stock Holdings in Maplebear Inc. $CART

First Trust Advisors LP increased its holdings in shares of Maplebear Inc. (NASDAQ:CART) by 20.0% during the first quarter, HoldingsChannel reports. The institutional investor owned 611,302 shares of the company’s stock after acquiring an additional 101,700 shares during the period. First Trust Advisors LP’s holdings in Maplebear were worth $22,899,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. PNC Financial Services Group Inc. raised its position in Maplebear by 16.5% during the first quarter. PNC Financial Services Group Inc. now owns 7,146 shares of the company’s stock worth $268,000 after acquiring an additional 1,012 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Maplebear by 31.4% in the first quarter. Dimensional Fund Advisors LP now owns 4,981,960 shares of the company’s stock valued at $186,618,000 after purchasing an additional 1,189,287 shares during the period. KBC Group NV grew its position in shares of Maplebear by 16.5% in the first quarter. KBC Group NV now owns 5,416 shares of the company’s stock valued at $203,000 after purchasing an additional 767 shares during the period. Aurora Investment Counsel increased its stake in shares of Maplebear by 2.4% during the first quarter. Aurora Investment Counsel now owns 62,677 shares of the company’s stock worth $2,348,000 after purchasing an additional 1,492 shares in the last quarter. Finally, Annis Gardner Whiting Capital Advisors LLC increased its stake in shares of Maplebear by 15.0% during the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 5,537 shares of the company’s stock worth $207,000 after purchasing an additional 723 shares in the last quarter. Institutional investors and hedge funds own 63.09% of the company’s stock.

Insider Activity at Maplebear

In other news, Director Ravi Gupta sold 181,000 shares of Maplebear stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $41.51, for a total transaction of $7,513,310.00. Following the transaction, the director owned 741,523 shares in the company, valued at $30,780,619.73. The trade was a 19.62% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 24.00% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Wall Street Zen raised shares of Maplebear from a “hold” rating to a “buy” rating in a research note on Saturday, July 18th. Barclays boosted their price objective on Maplebear from $65.00 to $69.00 and gave the stock an “overweight” rating in a research note on Thursday, May 7th. Wedbush began coverage on Maplebear in a report on Thursday, July 16th. They set an “outperform” rating and a $59.00 target price for the company. Wells Fargo & Company raised their target price on Maplebear from $45.00 to $47.00 and gave the company an “equal weight” rating in a research report on Thursday, May 7th. Finally, Citizens Jmp reaffirmed a “market outperform” rating and issued a $60.00 price target on shares of Maplebear in a research note on Monday, June 15th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $51.67.

Maplebear Stock Performance

NASDAQ:CART opened at $45.64 on Thursday. Maplebear Inc. has a one year low of $32.73 and a one year high of $53.50. The stock has a market cap of $10.73 billion, a PE ratio of 25.50, a P/E/G ratio of 0.62 and a beta of 0.75. The stock has a 50 day moving average price of $44.22 and a 200 day moving average price of $40.64.

Maplebear (NASDAQ:CART) last released its quarterly earnings data on Wednesday, May 6th. The company reported $0.57 earnings per share for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.01). The company had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.01 billion. Maplebear had a return on equity of 18.67% and a net margin of 12.50%.The business’s quarterly revenue was up 13.6% on a year-over-year basis. During the same period last year, the firm posted $0.37 EPS. As a group, analysts predict that Maplebear Inc. will post 2.46 earnings per share for the current fiscal year.

Maplebear Profile

Maplebear, Inc, doing business as Instacart, operates a leading online grocery and essentials marketplace that connects consumers, retail partners and personal shoppers through its digital platform. The company enables customers to order groceries, household items and specialty products for same-day or scheduled delivery, as well as in-store pickup. By integrating its technology with retailers’ existing inventory and point-of-sale systems, Maplebear streamlines the shopping experience and provides real-time availability and pricing.

Founded in 2012 and headquartered in San Francisco, Maplebear has grown from a regional startup to a publicly traded company listed on NASDAQ under the ticker CART.