Ethic Inc. Has $1.08 Million Stock Holdings in Maplebear Inc. (NASDAQ:CART)

Ethic Inc. increased its position in shares of Maplebear Inc. (NASDAQ:CART) by 145.6% during the 4th quarter, HoldingsChannel reports. The fund owned 26,151 shares of the company’s stock after purchasing an additional 15,505 shares during the quarter. Ethic Inc.’s holdings in Maplebear were worth $1,083,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Jones Financial Companies Lllp lifted its stake in shares of Maplebear by 46.6% during the fourth quarter. Jones Financial Companies Lllp now owns 698 shares of the company’s stock valued at $29,000 after acquiring an additional 222 shares during the period. Allworth Financial LP lifted its stake in Maplebear by 101.4% in the fourth quarter. Allworth Financial LP now owns 834 shares of the company’s stock valued at $37,000 after buying an additional 420 shares during the period. NewEdge Advisors LLC lifted its stake in Maplebear by 277.9% in the fourth quarter. NewEdge Advisors LLC now owns 975 shares of the company’s stock valued at $40,000 after buying an additional 717 shares during the period. Anderson Financial Strategies LLC acquired a new position in Maplebear in the fourth quarter valued at about $46,000. Finally, Cullen Frost Bankers Inc. acquired a new position in Maplebear in the fourth quarter valued at about $62,000. Institutional investors and hedge funds own 63.09% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on CART shares. Stifel Nicolaus cut their target price on Maplebear from $57.00 to $54.00 and set a “buy” rating on the stock in a research note on Wednesday, April 23rd. Oppenheimer decreased their price objective on Maplebear from $65.00 to $60.00 and set an “outperform” rating for the company in a report on Wednesday, February 26th. Wells Fargo & Company decreased their price target on Maplebear from $47.00 to $44.00 and set an “equal weight” rating for the company in a research note on Thursday, April 3rd. Wedbush decreased their price target on Maplebear from $48.00 to $46.00 and set a “neutral” rating for the company in a research note on Wednesday, February 26th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $55.00 price objective on shares of Maplebear in a research report on Wednesday, February 26th. Twelve equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Maplebear has a consensus rating of “Moderate Buy” and an average price target of $51.04.

Insider Buying and Selling

In related news, CEO Fidji Simo sold 2,033 shares of the business’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $40.00, for a total transaction of $81,320.00. Following the sale, the chief executive officer now owns 1,654,559 shares in the company, valued at $66,182,360. The trade was a 0.12% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, General Counsel Morgan Fong sold 5,249 shares of the business’s stock in a transaction on Monday, April 21st. The stock was sold at an average price of $42.57, for a total value of $223,449.93. Following the sale, the general counsel now owns 484,292 shares in the company, valued at $20,616,310.44. This represents a 1.07% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 36,165 shares of company stock worth $1,541,785 in the last 90 days. Insiders own 26.00% of the company’s stock.

Maplebear Stock Performance

Shares of CART opened at $44.31 on Wednesday. Maplebear Inc. has a 52-week low of $29.84 and a 52-week high of $53.44. The business’s fifty day moving average is $40.79 and its 200-day moving average is $43.52. The firm has a market cap of $11.63 billion, a price-to-earnings ratio of 29.74, a PEG ratio of 1.19 and a beta of 1.19.

Maplebear (NASDAQ:CART) last issued its quarterly earnings results on Thursday, May 1st. The company reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.01). Maplebear had a net margin of 13.37% and a return on equity of 13.78%. The business had revenue of $897.00 million during the quarter, compared to the consensus estimate of $896.86 million. During the same quarter in the previous year, the business posted $0.43 EPS. The company’s revenue for the quarter was up 9.4% on a year-over-year basis. As a group, research analysts forecast that Maplebear Inc. will post 1.43 EPS for the current fiscal year.

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.