Paragon Capital Management Ltd Purchases 3,185 Shares of Maplebear Inc. (NASDAQ:CART)

Paragon Capital Management Ltd boosted its position in shares of Maplebear Inc. (NASDAQ:CART) by 33.3% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 12,740 shares of the company’s stock after buying an additional 3,185 shares during the quarter. Paragon Capital Management Ltd’s holdings in Maplebear were worth $528,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CART. Wilmington Savings Fund Society FSB purchased a new position in Maplebear during the 3rd quarter valued at $33,000. Huntington National Bank purchased a new position in Maplebear during the 3rd quarter valued at $54,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in Maplebear during the 3rd quarter valued at $74,000. Quarry LP grew its position in shares of Maplebear by 269.5% in the 2nd quarter. Quarry LP now owns 3,928 shares of the company’s stock worth $126,000 after buying an additional 2,865 shares during the period. Finally, Vinva Investment Management Ltd purchased a new stake in shares of Maplebear in the 3rd quarter worth about $212,000. 63.09% of the stock is currently owned by institutional investors.

Maplebear Trading Down 2.9 %

NASDAQ CART opened at $45.11 on Thursday. Maplebear Inc. has a 12 month low of $22.70 and a 12 month high of $50.01. The stock has a market cap of $11.59 billion, a price-to-earnings ratio of 30.28, a PEG ratio of 1.00 and a beta of 1.04. The company’s 50 day moving average is $43.61 and its two-hundred day moving average is $39.57.

Maplebear (NASDAQ:CART) last released its earnings results on Tuesday, November 12th. The company reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $0.20. Maplebear had a net margin of 13.37% and a return on equity of 13.78%. The company had revenue of $852.00 million for the quarter, compared to analysts’ expectations of $844.03 million. During the same quarter last year, the business earned ($20.86) EPS. The firm’s revenue was up 11.5% compared to the same quarter last year. Sell-side analysts forecast that Maplebear Inc. will post 1.4 EPS for the current year.

Insiders Place Their Bets

In other Maplebear news, General Counsel Morgan Fong sold 29,253 shares of the stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $48.03, for a total transaction of $1,405,021.59. Following the completion of the sale, the general counsel now directly owns 258,406 shares of the company’s stock, valued at $12,411,240.18. This trade represents a 10.17 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Alan Ramsay sold 2,247 shares of the stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $42.14, for a total transaction of $94,688.58. Following the sale, the chief accounting officer now directly owns 87,735 shares of the company’s stock, valued at approximately $3,697,152.90. This trade represents a 2.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 112,128 shares of company stock worth $4,980,404. Company insiders own 36.00% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Needham & Company LLC raised shares of Maplebear from a “hold” rating to a “buy” rating and set a $56.00 target price on the stock in a research report on Monday. JMP Securities upped their target price on shares of Maplebear from $42.00 to $51.00 and gave the stock a “market outperform” rating in a research report on Wednesday, November 13th. Mizuho initiated coverage on shares of Maplebear in a research report on Tuesday. They issued an “outperform” rating and a $55.00 target price on the stock. Raymond James initiated coverage on shares of Maplebear in a research report on Tuesday, September 24th. They set a “market perform” rating on the stock. Finally, Stifel Nicolaus increased their price objective on shares of Maplebear from $52.00 to $55.00 and gave the company a “buy” rating in a research report on Monday, October 28th. Thirteen research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $48.31.

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.