Bokf Na Buys New Stake in Maplebear Inc. (NASDAQ:CART)

Bokf Na bought a new stake in shares of Maplebear Inc. (NASDAQ:CART) in the first quarter, Holdings Channel.com reports. The institutional investor bought 58,799 shares of the company’s stock, valued at approximately $2,167,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Parallel Advisors LLC lifted its position in Maplebear by 139.3% during the fourth quarter. Parallel Advisors LLC now owns 1,065 shares of the company’s stock valued at $25,000 after acquiring an additional 620 shares during the last quarter. Cantor Fitzgerald L. P. lifted its position in Maplebear by 389.5% during the fourth quarter. Cantor Fitzgerald L. P. now owns 1,850 shares of the company’s stock valued at $43,000 after acquiring an additional 2,489 shares during the last quarter. Kapitalo Investimentos Ltda purchased a new stake in Maplebear during the fourth quarter valued at approximately $69,000. Amalgamated Bank purchased a new stake in Maplebear during the fourth quarter valued at approximately $94,000. Finally, International Assets Investment Management LLC purchased a new stake in Maplebear during the fourth quarter valued at approximately $110,000. Hedge funds and other institutional investors own 63.09% of the company’s stock.

Maplebear Stock Up 0.7 %

CART stock traded up $0.23 during midday trading on Friday, hitting $34.32. 1,459,168 shares of the stock traded hands, compared to its average volume of 3,340,990. The stock’s fifty day simple moving average is $33.18 and its 200-day simple moving average is $32.56. Maplebear Inc. has a 1-year low of $22.13 and a 1-year high of $42.95.

Maplebear (NASDAQ:CART) last announced its earnings results on Wednesday, May 8th. The company reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.39. The company had revenue of $820.00 million during the quarter, compared to analyst estimates of $794.08 million. The company’s revenue for the quarter was up 8.0% compared to the same quarter last year. On average, research analysts forecast that Maplebear Inc. will post 1.02 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms have issued reports on CART. Oppenheimer raised their price target on shares of Maplebear from $36.00 to $48.00 and gave the stock an “outperform” rating in a report on Monday, April 29th. JMP Securities raised their price target on shares of Maplebear from $35.00 to $42.00 and gave the stock a “market outperform” rating in a report on Thursday, May 9th. Robert W. Baird raised their price target on shares of Maplebear from $31.00 to $44.00 and gave the stock an “outperform” rating in a report on Monday, April 1st. Piper Sandler reaffirmed an “overweight” rating and issued a $47.00 price target (up previously from $45.00) on shares of Maplebear in a report on Thursday, May 9th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Maplebear in a report on Tuesday, May 7th. Eleven investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, Maplebear currently has an average rating of “Moderate Buy” and a consensus price target of $41.60.

Insider Activity

In other news, CEO Fidji Simo sold 13,206 shares of Maplebear stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $34.93, for a total value of $461,285.58. Following the sale, the chief executive officer now owns 2,132,845 shares in the company, valued at $74,500,275.85. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CEO Fidji Simo sold 13,206 shares of the firm’s stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $34.93, for a total value of $461,285.58. Following the transaction, the chief executive officer now directly owns 2,132,845 shares of the company’s stock, valued at $74,500,275.85. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Alan Ramsay sold 2,550 shares of the firm’s stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $33.21, for a total transaction of $84,685.50. Following the completion of the transaction, the chief accounting officer now directly owns 113,086 shares in the company, valued at $3,755,586.06. The disclosure for this sale can be found here. Insiders have sold a total of 82,008 shares of company stock worth $2,795,362 over the last 90 days. 36.00% of the stock is currently owned by company insiders.

Maplebear Profile

Maplebear Inc, doing business as Instacart, provides online grocery shopping services to households in North America. It sells and delivers grocery products. The company offers its services through a mobile application and website. It also provides software-as-a-service solutions to retailers. The company was incorporated in 2012 and is based in San Francisco, California.