New Age Alpha Advisors LLC Purchases 69,066 Shares of Maplebear Inc. $CART

New Age Alpha Advisors LLC raised its position in Maplebear Inc. (NASDAQ:CART) by 89.1% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 146,599 shares of the company’s stock after acquiring an additional 69,066 shares during the period. New Age Alpha Advisors LLC’s holdings in Maplebear were worth $6,594,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Hantz Financial Services Inc. lifted its stake in Maplebear by 78.6% in the 3rd quarter. Hantz Financial Services Inc. now owns 884 shares of the company’s stock valued at $32,000 after acquiring an additional 389 shares in the last quarter. Allworth Financial LP lifted its stake in Maplebear by 35.7% in the 3rd quarter. Allworth Financial LP now owns 928 shares of the company’s stock valued at $34,000 after acquiring an additional 244 shares in the last quarter. IFP Advisors Inc lifted its stake in Maplebear by 761.3% in the 4th quarter. IFP Advisors Inc now owns 956 shares of the company’s stock valued at $43,000 after acquiring an additional 845 shares in the last quarter. Sunbelt Securities Inc. lifted its stake in Maplebear by 212.7% in the 3rd quarter. Sunbelt Securities Inc. now owns 1,157 shares of the company’s stock valued at $43,000 after acquiring an additional 787 shares in the last quarter. Finally, Abich Financial Wealth Management LLC bought a new stake in Maplebear in the 3rd quarter valued at approximately $43,000. Institutional investors own 63.09% of the company’s stock.

Insider Buying and Selling

In related news, General Counsel Morgan Fong sold 126,083 shares of the stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of $37.09, for a total value of $4,676,418.47. Following the sale, the general counsel owned 386,643 shares in the company, valued at approximately $14,340,588.87. This represents a 24.59% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Lisa Blackwood-Kapral sold 9,390 shares of the stock in a transaction on Wednesday, April 15th. The shares were sold at an average price of $40.25, for a total value of $377,947.50. Following the completion of the sale, the chief accounting officer owned 58,971 shares in the company, valued at approximately $2,373,582.75. This trade represents a 13.74% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 144,863 shares of company stock worth $5,418,135. Company insiders own 24.00% of the company’s stock.

Maplebear Price Performance

Shares of Maplebear stock opened at $41.22 on Monday. Maplebear Inc. has a 12-month low of $32.73 and a 12-month high of $53.50. The stock has a market cap of $9.69 billion, a P/E ratio of 23.03, a P/E/G ratio of 0.57 and a beta of 0.96. The business’s 50 day moving average is $39.85 and its 200-day moving average is $40.05.

Maplebear (NASDAQ:CART) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $0.57 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.01). Maplebear had a return on equity of 18.67% and a net margin of 12.50%.The company had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.01 billion. During the same quarter in the prior year, the company earned $0.37 EPS. The company’s revenue for the quarter was up 13.6% on a year-over-year basis. On average, sell-side analysts expect that Maplebear Inc. will post 2.43 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have commented on CART shares. Benchmark cut their target price on Maplebear from $60.00 to $53.00 and set a “buy” rating on the stock in a research note on Tuesday, February 10th. Needham & Company LLC restated a “buy” rating and issued a $55.00 target price on shares of Maplebear in a research note on Thursday, May 7th. Weiss Ratings upgraded Maplebear from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, May 11th. Jefferies Financial Group upgraded Maplebear from a “hold” rating to a “buy” rating and upped their price objective for the stock from $38.00 to $45.00 in a research note on Monday, March 30th. Finally, Stifel Nicolaus dropped their price objective on Maplebear from $49.00 to $46.00 and set a “buy” rating on the stock in a research note on Tuesday, January 27th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $51.09.

About Maplebear

Maplebear, Inc, doing business as Instacart, operates a leading online grocery and essentials marketplace that connects consumers, retail partners and personal shoppers through its digital platform. The company enables customers to order groceries, household items and specialty products for same-day or scheduled delivery, as well as in-store pickup. By integrating its technology with retailers’ existing inventory and point-of-sale systems, Maplebear streamlines the shopping experience and provides real-time availability and pricing.

Founded in 2012 and headquartered in San Francisco, Maplebear has grown from a regional startup to a publicly traded company listed on NASDAQ under the ticker CART.