Atria Wealth Solutions Inc. Purchases 1,738 Shares of Maplebear Inc. (NASDAQ:CART)

Atria Wealth Solutions Inc. increased its position in Maplebear Inc. (NASDAQ:CART) by 10.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,765 shares of the company’s stock after purchasing an additional 1,738 shares during the period. Atria Wealth Solutions Inc.’s holdings in Maplebear were worth $736,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of CART. Pacer Advisors Inc. bought a new position in Maplebear during the 3rd quarter valued at $158,701,000. Geode Capital Management LLC lifted its stake in Maplebear by 151.7% during the 3rd quarter. Geode Capital Management LLC now owns 2,732,738 shares of the company’s stock valued at $111,361,000 after acquiring an additional 1,647,081 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Maplebear by 5,191.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,489,655 shares of the company’s stock valued at $60,689,000 after acquiring an additional 1,461,501 shares in the last quarter. Southpoint Capital Advisors LP raised its stake in shares of Maplebear by 56.3% during the 3rd quarter. Southpoint Capital Advisors LP now owns 2,500,000 shares of the company’s stock worth $101,850,000 after purchasing an additional 900,000 shares during the period. Finally, Simcoe Capital Management LLC raised its stake in shares of Maplebear by 216.5% during the 3rd quarter. Simcoe Capital Management LLC now owns 1,225,690 shares of the company’s stock worth $49,935,000 after purchasing an additional 838,470 shares during the period. 63.09% of the stock is currently owned by institutional investors.

Maplebear Trading Down 1.2 %

Shares of CART opened at $48.78 on Wednesday. The stock has a 50-day moving average price of $46.46 and a 200-day moving average price of $42.68. The company has a market cap of $12.53 billion, a PE ratio of 32.74, a price-to-earnings-growth ratio of 1.19 and a beta of 1.07. Maplebear Inc. has a 12-month low of $29.72 and a 12-month high of $53.44.

Maplebear (NASDAQ:CART) last released its earnings results on Tuesday, February 25th. The company reported $0.53 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.16. The company had revenue of $883.00 million during the quarter, compared to the consensus estimate of $889.98 million. Maplebear had a return on equity of 13.78% and a net margin of 13.37%. As a group, analysts predict that Maplebear Inc. will post 1.43 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Fidji Simo sold 20,750 shares of the business’s stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $42.74, for a total value of $886,855.00. Following the completion of the sale, the chief executive officer now owns 1,771,993 shares in the company, valued at $75,734,980.82. The trade was a 1.16 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Alan Ramsay sold 2,314 shares of the business’s stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $46.28, for a total value of $107,091.92. Following the completion of the sale, the chief accounting officer now owns 85,421 shares of the company’s stock, valued at $3,953,283.88. The trade was a 2.64 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 25,311 shares of company stock worth $1,088,636 in the last quarter. 36.00% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have recently commented on CART shares. Deutsche Bank Aktiengesellschaft started coverage on Maplebear in a research note on Tuesday, December 3rd. They set a “hold” rating and a $37.00 target price on the stock. BMO Capital Markets lifted their target price on Maplebear from $39.00 to $48.00 and gave the stock a “market perform” rating in a research note on Wednesday, November 13th. Barclays lifted their target price on Maplebear from $48.00 to $56.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. Piper Sandler lifted their target price on Maplebear from $50.00 to $58.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. Finally, Morgan Stanley lifted their price objective on Maplebear from $41.00 to $44.00 and gave the stock an “equal weight” rating in a report on Monday, January 13th. Thirteen analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $49.04.

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.