CIBC Asset Management Inc Purchases 286 Shares of Maplebear Inc. (NASDAQ:CART)

CIBC Asset Management Inc boosted its position in shares of Maplebear Inc. (NASDAQ:CART) by 3.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,114 shares of the company’s stock after acquiring an additional 286 shares during the period. CIBC Asset Management Inc’s holdings in Maplebear were worth $331,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Russell Investments Group Ltd. acquired a new stake in Maplebear during the first quarter valued at approximately $1,663,000. Vanguard Group Inc. boosted its holdings in Maplebear by 239.1% during the first quarter. Vanguard Group Inc. now owns 213,496 shares of the company’s stock valued at $7,961,000 after purchasing an additional 150,544 shares in the last quarter. BOKF NA acquired a new stake in Maplebear during the first quarter valued at approximately $2,167,000. Kodai Capital Management LP acquired a new stake in Maplebear during the first quarter valued at approximately $8,648,000. Finally, Jacobs Levy Equity Management Inc. acquired a new stake in Maplebear during the first quarter valued at approximately $11,610,000. 63.09% of the stock is currently owned by institutional investors.

Insider Activity at Maplebear

In other news, CAO Alan Ramsay sold 2,486 shares of the company’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $41.39, for a total transaction of $102,895.54. Following the sale, the chief accounting officer now directly owns 99,225 shares of the company’s stock, valued at $4,106,922.75. This represents a 2.44 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Morgan Fong sold 8,345 shares of the stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $40.00, for a total value of $333,800.00. Following the sale, the general counsel now owns 330,886 shares in the company, valued at $13,235,440. The trade was a 2.46 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 118,710 shares of company stock worth $4,978,164. 36.00% of the stock is owned by company insiders.

Maplebear Trading Up 3.9 %

Shares of CART stock opened at $43.21 on Friday. Maplebear Inc. has a 12 month low of $22.13 and a 12 month high of $50.01. The stock has a market cap of $11.10 billion, a PE ratio of 29.00, a price-to-earnings-growth ratio of 1.11 and a beta of 1.12. The company’s fifty day moving average price is $42.70 and its 200-day moving average price is $36.79.

Maplebear (NASDAQ:CART) last issued its earnings results on Tuesday, November 12th. The company reported $0.42 earnings per share for the quarter, topping analysts’ consensus estimates of $0.22 by $0.20. Maplebear had a return on equity of 13.78% and a net margin of 13.37%. The business had revenue of $852.00 million during the quarter, compared to analyst estimates of $844.03 million. During the same quarter in the previous year, the firm earned ($20.86) EPS. Maplebear’s revenue was up 11.5% on a year-over-year basis. On average, sell-side analysts forecast that Maplebear Inc. will post 1.4 earnings per share for the current fiscal year.

Analysts Set New Price Targets

CART has been the topic of several recent analyst reports. Benchmark reissued a “hold” rating on shares of Maplebear in a report on Wednesday, August 7th. BMO Capital Markets boosted their target price on Maplebear from $39.00 to $48.00 and gave the stock a “market perform” rating in a report on Wednesday, November 13th. Barclays boosted their target price on Maplebear from $48.00 to $56.00 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. Oppenheimer boosted their target price on Maplebear from $55.00 to $60.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Maplebear from $47.00 to $52.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 13th. Twelve equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $47.29.

About Maplebear

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.