Creative Planning Increases Stock Holdings in Maplebear Inc. (NASDAQ:CART)

Creative Planning grew its position in Maplebear Inc. (NASDAQ:CART) by 1,141.9% in the third quarter, HoldingsChannel reports. The institutional investor owned 118,802 shares of the company’s stock after purchasing an additional 109,236 shares during the period. Creative Planning’s holdings in Maplebear were worth $4,840,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in CART. Hodges Capital Management Inc. purchased a new stake in Maplebear during the 1st quarter worth about $6,211,000. Ironwood Financial llc purchased a new stake in Maplebear during the 1st quarter worth about $337,000. Udine Wealth Management Inc. purchased a new stake in Maplebear during the 1st quarter worth about $2,109,000. Sivia Capital Partners LLC purchased a new stake in Maplebear during the 1st quarter worth about $369,000. Finally, Capstone Investment Advisors LLC increased its position in Maplebear by 37.7% during the 1st quarter. Capstone Investment Advisors LLC now owns 172,134 shares of the company’s stock worth $6,419,000 after purchasing an additional 47,134 shares in the last quarter. Hedge funds and other institutional investors own 63.09% of the company’s stock.

Insider Activity

In other news, CAO Alan Ramsay sold 2,486 shares of the business’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 value of $102,895.54. Following the completion of the sale, the chief accounting officer now directly owns 99,225 shares in the company, valued at approximately $4,106,922.75. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CAO Alan Ramsay sold 2,486 shares of the business’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 value of $102,895.54. Following the completion of the sale, the chief accounting officer now directly owns 99,225 shares in the company, valued at approximately $4,106,922.75. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Fidji Simo sold 33,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $35.27, for a total value of $1,163,910.00. Following the transaction, the chief executive officer now owns 1,844,778 shares of the company’s stock, valued at $65,065,320.06. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 68,707 shares of company stock worth $2,652,050. 36.00% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Macquarie lifted their price objective on Maplebear from $44.00 to $45.00 and gave the stock an “outperform” rating in a research report on Thursday, August 8th. Benchmark reissued a “hold” rating on shares of Maplebear in a research note on Wednesday, August 7th. BMO Capital Markets raised their price target on Maplebear from $36.00 to $39.00 and gave the stock a “market perform” rating in a research note on Wednesday, August 7th. Citigroup lifted their price objective on Maplebear from $44.00 to $47.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $45.00 price objective on shares of Maplebear in a research note on Monday, October 7th. Twelve equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $43.10.

Maplebear Stock Down 0.1 %

CART stock opened at $43.78 on Friday. Maplebear Inc. has a 52-week low of $22.13 and a 52-week high of $45.13. The stock’s 50 day moving average is $38.51 and its two-hundred day moving average is $35.55. The company has a market capitalization of $11.59 billion and a PE ratio of -2.21.

Maplebear (NASDAQ:CART) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $0.20 earnings per share 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 business had revenue of $823.00 million during the quarter, compared to the consensus estimate of $806.35 million. The firm’s revenue for the quarter was up 14.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Maplebear Inc. will post 1.14 EPS for the current year.

Maplebear 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.