Northern Trust Corp Acquires 78,931 Shares of Maplebear Inc. (NASDAQ:CART)

Northern Trust Corp raised its holdings in Maplebear Inc. (NASDAQ:CART) by 11.2% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 786,296 shares of the company’s stock after purchasing an additional 78,931 shares during the period. Northern Trust Corp owned approximately 0.31% of Maplebear worth $32,568,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Jones Financial Companies Lllp boosted its stake in shares of Maplebear by 46.6% in the fourth quarter. Jones Financial Companies Lllp now owns 698 shares of the company’s stock valued at $29,000 after buying an additional 222 shares during the period. Wilmington Savings Fund Society FSB bought a new stake in shares of Maplebear during the 3rd quarter valued at $33,000. Allworth Financial LP grew its holdings in shares of Maplebear by 101.4% during the 4th quarter. Allworth Financial LP now owns 834 shares of the company’s stock worth $37,000 after purchasing an additional 420 shares in the last quarter. NewEdge Advisors LLC increased its position in shares of Maplebear by 277.9% in the fourth quarter. NewEdge Advisors LLC now owns 975 shares of the company’s stock worth $40,000 after purchasing an additional 717 shares during the period. 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

CART has been the topic of a number of analyst reports. Wedbush reduced their price objective on shares of Maplebear from $48.00 to $46.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 26th. JMP Securities restated a “market outperform” rating and set a $55.00 price objective on shares of Maplebear in a research report on Friday, April 11th. JPMorgan Chase & Co. dropped their price target on shares of Maplebear from $50.00 to $44.00 and set an “overweight” rating for the company in a research note on Tuesday, April 8th. BTIG Research raised shares of Maplebear from a “neutral” rating to a “buy” rating and set a $58.00 price objective on the stock in a research note on Tuesday, January 14th. Finally, Macquarie reaffirmed an “outperform” rating and set a $55.00 target price on shares of Maplebear in a research report on Tuesday, May 6th. Twelve analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Maplebear has an average rating of “Moderate Buy” and a consensus price target of $50.61.

Maplebear Price Performance

CART stock opened at $43.76 on Friday. Maplebear Inc. has a 1 year low of $29.84 and a 1 year high of $53.44. The stock has a market capitalization of $11.49 billion, a PE ratio of 29.37, a price-to-earnings-growth ratio of 1.19 and a beta of 1.19. The company’s 50-day moving average is $40.56 and its 200-day moving average is $43.53.

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

Insider Activity at Maplebear

In other Maplebear news, General Counsel Morgan Fong sold 5,249 shares of the business’s stock in a transaction that occurred on Monday, April 21st. The stock was sold at an average price of $42.57, for a total transaction of $223,449.93. Following the completion of the sale, the general counsel now directly owns 484,292 shares of the company’s stock, valued at approximately $20,616,310.44. The trade was a 1.07 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Fidji Simo sold 20,750 shares of the firm’s stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $43.31, for a total value of $898,682.50. Following the completion of the transaction, the chief executive officer now owns 1,662,692 shares in the company, valued at $72,011,190.52. This represents a 1.23 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 36,165 shares of company stock valued at $1,541,785. 26.00% of the stock is owned by company insiders.

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.