TD Private Client Wealth LLC Buys Shares of 14,322 Maplebear Inc. $CART

TD Private Client Wealth LLC bought a new stake in Maplebear Inc. (NASDAQ:CART) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 14,322 shares of the company’s stock, valued at approximately $526,000.

Other institutional investors have also recently made changes to their positions in the company. Securian Asset Management Inc. raised its stake in Maplebear by 2.1% in the 2nd quarter. Securian Asset Management Inc. now owns 12,509 shares of the company’s stock valued at $566,000 after purchasing an additional 252 shares during the last quarter. Smartleaf Asset Management LLC grew its holdings in shares of Maplebear by 9.6% during the second quarter. Smartleaf Asset Management LLC now owns 2,978 shares of the company’s stock worth $134,000 after buying an additional 261 shares in the last quarter. Rafferty Asset Management LLC grew its holdings in shares of Maplebear by 2.5% during the second quarter. Rafferty Asset Management LLC now owns 11,000 shares of the company’s stock worth $498,000 after buying an additional 273 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its position in shares of Maplebear by 0.4% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 75,161 shares of the company’s stock valued at $3,546,000 after buying an additional 315 shares during the last quarter. Finally, ProShare Advisors LLC lifted its stake in shares of Maplebear by 5.7% in the second quarter. ProShare Advisors LLC now owns 7,284 shares of the company’s stock worth $330,000 after buying an additional 390 shares in the last quarter. 63.09% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, General Counsel Morgan Fong sold 4,914 shares of the firm’s stock in a transaction dated Monday, December 22nd. The stock was sold at an average price of $45.21, for a total transaction of $222,161.94. Following the completion of the sale, the general counsel directly owned 404,940 shares of the company’s stock, valued at approximately $18,307,337.40. This trade represents a 1.20% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 26.00% of the company’s stock.

Wall Street Analysts Forecast Growth

CART has been the subject of several research reports. BMO Capital Markets raised shares of Maplebear from a “market perform” rating to an “outperform” rating and set a $58.00 price objective for the company in a research note on Tuesday, November 11th. Piper Sandler lowered Maplebear from an “overweight” rating to a “neutral” rating and set a $41.00 price target for the company. in a research report on Friday, October 3rd. Cantor Fitzgerald increased their price target on Maplebear from $45.00 to $54.00 and gave the company an “overweight” rating in a report on Thursday, January 8th. Needham & Company LLC lowered their price objective on Maplebear from $66.00 to $50.00 and set a “buy” rating on the stock in a research note on Tuesday, November 11th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Maplebear in a report on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eleven have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, Maplebear presently has a consensus rating of “Hold” and an average price target of $51.73.

Maplebear Stock Performance

CART opened at $39.41 on Friday. The stock has a market capitalization of $10.35 billion, a PE ratio of 21.65, a P/E/G ratio of 1.02 and a beta of 0.97. Maplebear Inc. has a one year low of $34.78 and a one year high of $53.50. The business’s 50 day moving average price is $42.92 and its 200 day moving average price is $43.42.

Maplebear (NASDAQ:CART) last posted its earnings results on Monday, November 10th. The company reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.01. Maplebear had a return on equity of 15.72% and a net margin of 14.09%.The company had revenue of $939.00 million during the quarter, compared to analysts’ expectations of $933.76 million. During the same quarter last year, the firm earned $0.42 earnings per share. The firm’s quarterly revenue was up 10.2% compared to the same quarter last year. As a group, equities 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, 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.