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

Stifel Financial Corp lifted its holdings in Maplebear Inc. (NASDAQ:CART) by 10.3% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 25,561 shares of the company’s stock after purchasing an additional 2,386 shares during the period. Stifel Financial Corp’s holdings in Maplebear were worth $1,041,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in CART. CIBC Asset Management Inc boosted its holdings in Maplebear by 3.7% in the 3rd quarter. CIBC Asset Management Inc now owns 8,114 shares of the company’s stock valued at $331,000 after purchasing an additional 286 shares during the period. Oppenheimer & Co. Inc. lifted its stake in shares of Maplebear by 5.1% in the third quarter. Oppenheimer & Co. Inc. now owns 12,090 shares of the company’s stock valued at $493,000 after buying an additional 584 shares during the period. Creative Planning grew its position in Maplebear by 9.5% during the second quarter. Creative Planning now owns 9,566 shares of the company’s stock worth $307,000 after buying an additional 831 shares in the last quarter. Huntington National Bank acquired a new stake in Maplebear during the third quarter worth about $54,000. Finally, nVerses Capital LLC increased its stake in Maplebear by 1,600.0% during the second quarter. nVerses Capital LLC now owns 1,700 shares of the company’s stock valued at $55,000 after acquiring an additional 1,600 shares during the period. Institutional investors and hedge funds own 63.09% of the company’s stock.

Maplebear Price Performance

CART stock opened at $42.20 on Tuesday. The company has a 50 day moving average price of $43.70 and a 200 day moving average price of $38.29. Maplebear Inc. has a fifty-two week low of $22.13 and a fifty-two week high of $50.01. The stock has a market capitalization of $10.84 billion, a PE ratio of 28.32, a price-to-earnings-growth ratio of 1.08 and a beta of 0.94.

Maplebear (NASDAQ:CART) last released 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. The company had revenue of $852.00 million during the quarter, compared to the consensus estimate of $844.03 million. Maplebear had a return on equity of 13.78% and a net margin of 13.37%. The firm’s quarterly revenue was up 11.5% on a year-over-year basis. During the same quarter in the previous year, the company posted ($20.86) earnings per share. As a group, equities analysts expect that Maplebear Inc. will post 1.4 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on CART shares. JMP Securities lifted their price objective on Maplebear from $42.00 to $51.00 and gave the stock a “market outperform” rating in a report on Wednesday, November 13th. Morgan Stanley decreased their price target on shares of Maplebear from $45.00 to $41.00 and set an “equal weight” rating on the stock in a research note on Tuesday, September 24th. Stifel Nicolaus increased their price objective on shares of Maplebear from $52.00 to $55.00 and gave the company a “buy” rating in a research note on Monday, October 28th. Loop Capital lifted their target price on shares of Maplebear from $49.00 to $56.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Finally, Macquarie upped their target price on shares of Maplebear from $50.00 to $52.00 and gave the company an “outperform” rating in a research note on Thursday, November 14th. Thirteen investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $47.14.

Insider Buying and Selling at Maplebear

In related news, CAO Alan Ramsay sold 2,247 shares of Maplebear stock in a transaction on Friday, December 20th. The stock was sold at an average price of $42.14, for a total transaction of $94,688.58. Following the completion of the sale, the chief accounting officer now directly owns 87,735 shares of the company’s stock, valued at $3,697,152.90. The trade was a 2.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Morgan Fong sold 29,253 shares of the stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $48.03, for a total value of $1,405,021.59. Following the completion of the transaction, the general counsel now directly owns 258,406 shares in the company, valued at $12,411,240.18. The trade was a 10.17 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 112,128 shares of company stock worth $4,980,404. Company insiders own 36.00% of the company’s stock.

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.