Bank of Montreal Can Buys 69,388 Shares of Maplebear Inc. (NASDAQ:CART)

Bank of Montreal Can lifted its stake in Maplebear Inc. (NASDAQ:CART) by 157.6% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 113,417 shares of the company’s stock after buying an additional 69,388 shares during the quarter. Bank of Montreal Can’s holdings in Maplebear were worth $3,729,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CART. Parallel Advisors LLC increased its holdings 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 acquiring an additional 620 shares during the last quarter. Cantor Fitzgerald L. P. increased its holdings in shares of Maplebear by 389.5% in the fourth quarter. Cantor Fitzgerald L. P. now owns 1,850 shares of the company’s stock worth $43,000 after purchasing an additional 2,489 shares during the last quarter. nVerses Capital LLC lifted its position in shares of Maplebear by 1,600.0% in the second quarter. nVerses Capital LLC now owns 1,700 shares of the company’s stock worth $55,000 after buying an additional 1,600 shares in the last quarter. Kapitalo Investimentos Ltda bought a new position in Maplebear during the fourth quarter valued at approximately $69,000. Finally, Oppenheimer & Co. Inc. purchased a new position in Maplebear during the 1st quarter valued at approximately $213,000. Institutional investors own 63.09% of the company’s stock.

Insider Buying and Selling

In other Maplebear news, CAO Alan Ramsay sold 2,626 shares of the company’s stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $35.02, for a total value of $91,962.52. Following the completion of the sale, the chief accounting officer now directly owns 107,910 shares in the company, valued at approximately $3,779,008.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, General Counsel Morgan Fong sold 9,506 shares of Maplebear stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $35.02, for a total transaction of $332,900.12. Following the transaction, the general counsel now directly owns 372,335 shares of the company’s stock, valued at $13,039,171.70. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Alan Ramsay sold 2,626 shares of the business’s stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $35.02, for a total transaction of $91,962.52. Following the completion of the transaction, the chief accounting officer now directly owns 107,910 shares of the company’s stock, valued at approximately $3,779,008.20. The disclosure for this sale can be found here. Insiders have sold a total of 67,655 shares of company stock valued at $2,504,824 over the last quarter. 36.00% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on CART shares. BMO Capital Markets upped their price objective on Maplebear from $36.00 to $39.00 and gave the stock a “market perform” rating in a report on Wednesday, August 7th. Needham & Company LLC reaffirmed a “hold” rating on shares of Maplebear in a research note on Wednesday, August 7th. KeyCorp started coverage on shares of Maplebear in a research report on Thursday, July 11th. They set a “sector weight” rating for the company. Citigroup boosted their target price on shares of Maplebear from $44.00 to $47.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. Finally, Wedbush upped their target price on shares of Maplebear from $35.00 to $38.00 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. Eleven analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, Maplebear has a consensus rating of “Moderate Buy” and a consensus price target of $43.33.

Maplebear Stock Performance

NASDAQ CART opened at $39.45 on Thursday. Maplebear Inc. has a 12 month low of $22.13 and a 12 month high of $42.58. The company’s 50-day moving average price is $35.54 and its 200-day moving average price is $35.00.

Maplebear (NASDAQ:CART) last issued its earnings results on Tuesday, August 6th. The company reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.13 by $0.07. Maplebear had a negative net margin of 52.21% and a negative return on equity of 49.98%. The business had revenue of $823.00 million for the quarter, compared to the consensus estimate of $806.35 million. Maplebear’s quarterly revenue was up 14.9% compared to the same quarter last year. As a group, equities research analysts expect that Maplebear Inc. will post 1.12 earnings per share for the current year.

Maplebear Profile

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.