Stifel Financial Corp Purchases 2,386 Shares of Maplebear Inc. (NASDAQ:CART)

Stifel Financial Corp grew its position in Maplebear Inc. (NASDAQ:CART) by 10.3% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 25,561 shares of the company’s stock after acquiring an additional 2,386 shares during the period. Stifel Financial Corp’s holdings in Maplebear were worth $1,041,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Point72 Italy S.r.l. grew its stake in Maplebear by 27.5% in the third quarter. Point72 Italy S.r.l. now owns 217,736 shares of the company’s stock valued at $8,871,000 after acquiring an additional 46,916 shares during the period. Polar Asset Management Partners Inc. acquired a new position in shares of Maplebear in the 3rd quarter valued at approximately $7,802,000. Motley Fool Asset Management LLC bought a new stake in Maplebear during the 3rd quarter worth approximately $217,000. Invenomic Capital Management LP raised its holdings in Maplebear by 23.1% during the 3rd quarter. Invenomic Capital Management LP now owns 305,167 shares of the company’s stock worth $12,433,000 after buying an additional 57,305 shares during the period. Finally, Jacobs Levy Equity Management Inc. lifted its stake in Maplebear by 11.1% in the third quarter. Jacobs Levy Equity Management Inc. now owns 1,665,421 shares of the company’s stock valued at $67,849,000 after buying an additional 166,058 shares in the last quarter. Institutional investors and hedge funds own 63.09% of the company’s stock.

Wall Street Analyst Weigh In

CART has been the topic of a number of research analyst reports. JMP Securities raised their price objective on shares of Maplebear from $42.00 to $51.00 and gave the stock a “market outperform” rating in a report on Wednesday, November 13th. Robert W. Baird boosted their price target on Maplebear from $44.00 to $51.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Deutsche Bank Aktiengesellschaft started coverage on Maplebear in a report on Tuesday, December 3rd. They set a “hold” rating and a $37.00 price objective for the company. Loop Capital boosted their target price on Maplebear from $49.00 to $56.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Finally, Barclays raised their price target on shares of Maplebear from $48.00 to $56.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. Thirteen analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $47.14.

Maplebear Price Performance

Shares of CART opened at $42.20 on Tuesday. The firm has a market capitalization of $10.84 billion, a PE ratio of 28.32, a PEG ratio of 1.08 and a beta of 0.94. The company’s 50-day moving average is $43.70 and its 200-day moving average is $38.29. Maplebear Inc. has a fifty-two week low of $22.13 and a fifty-two week high of $50.01.

Maplebear (NASDAQ:CART) last issued its quarterly earnings data on Tuesday, November 12th. The company reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.20. Maplebear had a net margin of 13.37% and a return on equity of 13.78%. The firm had revenue of $852.00 million during the quarter, compared to the consensus estimate of $844.03 million. During the same period last year, the business posted ($20.86) earnings per share. The business’s revenue for the quarter was up 11.5% compared to the same quarter last year. Analysts predict that Maplebear Inc. will post 1.4 earnings per share for the current fiscal year.

Insider Activity at Maplebear

In other news, CAO Alan Ramsay sold 2,559 shares of the firm’s stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $42.97, for a total transaction of $109,960.23. Following the transaction, the chief accounting officer now directly owns 96,666 shares of the company’s stock, valued at approximately $4,153,738.02. This trade represents a 2.58 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Morgan Fong sold 11,325 shares of the business’s stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $42.97, for a total value of $486,635.25. Following the completion of the sale, the general counsel now owns 287,659 shares of the company’s stock, valued at approximately $12,360,707.23. This trade represents a 3.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 112,128 shares of company stock worth $4,980,404 in the last ninety days. 36.00% of the stock is owned by company insiders.

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.