WCG Wealth Advisors LLC Purchases Shares of 13,346 Maplebear Inc. (NASDAQ:CART)

WCG Wealth Advisors LLC purchased a new stake in Maplebear Inc. (NASDAQ:CART) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 13,346 shares of the company’s stock, valued at approximately $429,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Norges Bank purchased a new stake in Maplebear in the 4th quarter valued at about $78,674,000. Federated Hermes Inc. grew its holdings in Maplebear by 102.2% in the 2nd quarter. Federated Hermes Inc. now owns 1,734,264 shares of the company’s stock valued at $55,739,000 after buying an additional 876,439 shares during the period. Industry Ventures L.L.C. grew its holdings in Maplebear by 3.3% in the 2nd quarter. Industry Ventures L.L.C. now owns 980,458 shares of the company’s stock valued at $31,512,000 after buying an additional 31,175 shares during the period. SG Americas Securities LLC purchased a new stake in Maplebear in the 1st quarter valued at about $31,109,000. Finally, Lord Abbett & CO. LLC purchased a new stake in Maplebear in the 1st quarter valued at about $28,674,000. Hedge funds and other institutional investors own 63.09% of the company’s stock.

Insider Buying and Selling at Maplebear

In other Maplebear news, CEO Fidji Simo sold 8,500 shares of the company’s stock in a transaction that occurred on Wednesday, June 26th. The stock was sold at an average price of $33.04, for a total value of $280,840.00. Following the transaction, the chief executive officer now directly owns 1,984,167 shares of the company’s stock, valued at approximately $65,556,877.68. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CEO Fidji Simo sold 8,500 shares of the business’s stock in a transaction that occurred on Wednesday, June 26th. The stock was sold at an average price of $33.04, for a total value of $280,840.00. Following the completion of the sale, the chief executive officer now directly owns 1,984,167 shares in the company, valued at approximately $65,556,877.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Morgan Fong sold 9,506 shares of the business’s stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $35.02, for a total value of $332,900.12. Following the completion of the sale, the general counsel now owns 372,335 shares of the company’s stock, valued at $13,039,171.70. The disclosure for this sale can be found here. Insiders have sold a total of 54,332 shares of company stock valued at $1,894,120 in the last three months. Corporate insiders own 36.00% of the company’s stock.

Maplebear Stock Up 4.9 %

Shares of CART opened at $41.83 on Friday. The business’s 50 day moving average is $34.60 and its two-hundred day moving average is $34.64. Maplebear Inc. has a 52-week low of $22.13 and a 52-week high of $41.86.

Maplebear (NASDAQ:CART) last announced its earnings results on Tuesday, August 6th. The company reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.13 by $0.07. Maplebear had a negative return on equity of 49.98% and a negative net margin of 52.21%. The company had revenue of $823.00 million for the quarter, compared to analyst estimates of $806.35 million. Maplebear’s revenue was up 14.9% on a year-over-year basis. Equities analysts forecast that Maplebear Inc. will post 1.12 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have commented on CART shares. Morgan Stanley lifted their price target on Maplebear from $43.00 to $45.00 and gave the company an “equal weight” rating in a report on Tuesday, July 23rd. Cantor Fitzgerald started coverage on Maplebear in a research note on Thursday, September 5th. They issued an “overweight” rating and a $45.00 price objective on the stock. Wedbush lifted their price objective on Maplebear from $35.00 to $38.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. Wolfe Research started coverage on Maplebear in a research note on Tuesday, July 16th. They issued a “peer perform” rating on the stock. Finally, Macquarie lifted their price objective on Maplebear from $44.00 to $45.00 and gave the company an “outperform” rating in a research note on Thursday, August 8th. Eleven research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $42.81.

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.