Janney Montgomery Scott LLC Has $1.32 Million Stake in Maplebear Inc. $CART

Janney Montgomery Scott LLC boosted its stake in shares of Maplebear Inc. (NASDAQ:CART) by 3.2% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 29,272 shares of the company’s stock after buying an additional 916 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Maplebear were worth $1,324,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Proathlete Wealth Management LLC bought a new position in shares of Maplebear in the 1st quarter worth about $26,000. UMB Bank n.a. increased its holdings in Maplebear by 914.1% during the 1st quarter. UMB Bank n.a. now owns 1,004 shares of the company’s stock worth $40,000 after purchasing an additional 905 shares in the last quarter. Brooklyn Investment Group bought a new stake in Maplebear during the 1st quarter worth approximately $40,000. Spire Wealth Management purchased a new position in shares of Maplebear in the 1st quarter worth approximately $41,000. Finally, CWM LLC boosted its stake in shares of Maplebear by 35.1% in the 1st quarter. CWM LLC now owns 1,058 shares of the company’s stock worth $42,000 after buying an additional 275 shares during the last quarter. 63.09% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CART has been the topic of several research analyst reports. Wall Street Zen downgraded Maplebear from a “buy” rating to a “hold” rating in a research note on Monday, September 29th. Sanford C. Bernstein increased their target price on Maplebear from $55.00 to $60.00 and gave the stock an “outperform” rating in a research report on Monday, July 21st. Barclays increased their target price on Maplebear from $61.00 to $65.00 and gave the stock an “overweight” rating in a research report on Friday, August 8th. Robert W. Baird dropped their target price on Maplebear from $60.00 to $50.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 1st. Finally, Needham & Company LLC upped their price target on shares of Maplebear from $56.00 to $66.00 and gave the stock a “buy” rating in a report on Friday, August 8th. Two analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Maplebear presently has a consensus rating of “Moderate Buy” and an average target price of $53.42.

Insider Buying and Selling

In related news, CEO Chris Rogers sold 9,259 shares of the firm’s stock in a transaction that occurred on Monday, September 22nd. The shares were sold at an average price of $42.37, for a total value of $392,303.83. Following the sale, the chief executive officer owned 739,880 shares in the company, valued at approximately $31,348,715.60. This trade represents a 1.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Daniel Danker sold 10,037 shares of the business’s stock in a transaction on Friday, July 18th. The shares were sold at an average price of $48.82, for a total transaction of $490,006.34. Following the sale, the insider directly owned 470,190 shares of the company’s stock, valued at approximately $22,954,675.80. The trade was a 2.09% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 4,972,134 shares of company stock valued at $237,530,070 in the last ninety days. Corporate insiders own 26.00% of the company’s stock.

Maplebear Trading Down 2.0%

Maplebear stock opened at $38.31 on Monday. The firm has a 50-day moving average of $43.87 and a 200-day moving average of $44.27. The firm has a market cap of $10.09 billion, a P/E ratio of 22.14, a P/E/G ratio of 1.18 and a beta of 1.10. Maplebear Inc. has a 1-year low of $34.87 and a 1-year high of $53.50.

Maplebear (NASDAQ:CART) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.41 EPS for the quarter, topping the consensus estimate of $0.39 by $0.02. Maplebear had a net margin of 13.76% and a return on equity of 15.69%. The business had revenue of $914.00 million during the quarter, compared to analyst estimates of $896.55 million. During the same period last year, the business posted $0.20 earnings per share. Maplebear’s quarterly revenue was up 11.1% compared to the same quarter last year. Research analysts forecast that Maplebear Inc. will post 1.43 earnings per share for the current fiscal 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.