Stifel Financial Corp Has $1.14 Million Holdings in Maplebear Inc. (NASDAQ:CART)

Stifel Financial Corp lifted its position in Maplebear Inc. (NASDAQ:CART) by 8.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 27,602 shares of the company’s stock after purchasing an additional 2,041 shares during the quarter. Stifel Financial Corp’s holdings in Maplebear were worth $1,143,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in CART. Janney Montgomery Scott LLC lifted its holdings in shares of Maplebear by 212.1% during the fourth quarter. Janney Montgomery Scott LLC now owns 23,938 shares of the company’s stock valued at $992,000 after acquiring an additional 16,267 shares during the period. Cherry Creek Investment Advisors Inc. acquired a new stake in shares of Maplebear during the 4th quarter worth approximately $235,000. US Bancorp DE raised its position in shares of Maplebear by 22.3% during the 4th quarter. US Bancorp DE now owns 13,077 shares of the company’s stock valued at $542,000 after acquiring an additional 2,387 shares during the last quarter. Nordea Investment Management AB acquired a new position in Maplebear in the fourth quarter valued at about $2,078,000. Finally, Commonwealth Equity Services LLC acquired a new stake in shares of Maplebear in the 4th quarter valued at approximately $234,000. Institutional investors and hedge funds own 63.09% of the company’s stock.

Maplebear Trading Down 6.0 %

Shares of NASDAQ CART opened at $42.97 on Friday. The company has a market cap of $11.28 billion, a price-to-earnings ratio of 28.84, a PEG ratio of 1.19 and a beta of 1.19. The stock has a 50-day moving average price of $40.45 and a two-hundred day moving average price of $43.53. Maplebear Inc. has a 12 month low of $29.84 and a 12 month high of $53.44.

Maplebear (NASDAQ:CART) last issued its earnings results on Thursday, May 1st. The company reported $0.37 earnings per share (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 return on equity of 13.78% and a net margin of 13.37%. Maplebear’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.43 EPS. On average, sell-side analysts predict that Maplebear Inc. will post 1.43 earnings per share for the current year.

Insider Activity at Maplebear

In other news, General Counsel Morgan Fong sold 5,249 shares of the company’s stock in a transaction dated Monday, April 21st. The shares were sold at an average price of $42.57, for a total transaction of $223,449.93. Following the transaction, the general counsel now owns 484,292 shares in the company, valued at approximately $20,616,310.44. This represents a 1.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Fidji Simo sold 20,750 shares of the stock in a transaction that occurred on Wednesday, February 26th. The stock was 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 approximately $72,011,190.52. The trade was a 1.23 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 36,165 shares of company stock worth $1,541,785 over the last three months. Company insiders own 26.00% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on CART shares. Barclays increased their price target on Maplebear from $58.00 to $61.00 and gave the stock an “overweight” rating in a report on Friday, May 2nd. Wells Fargo & Company lowered their price target on shares of Maplebear from $47.00 to $44.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 3rd. JMP Securities reiterated a “market outperform” rating and set a $55.00 price objective on shares of Maplebear in a research note on Friday, April 11th. Oppenheimer cut their target price on shares of Maplebear from $65.00 to $60.00 and set an “outperform” rating for the company in a research note on Wednesday, February 26th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Maplebear from $50.00 to $44.00 and set an “overweight” rating for the company in a research report on Tuesday, April 8th. Twelve 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 presently has an average rating of “Moderate Buy” and an average target price of $50.61.

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.