Farther Finance Advisors LLC Has $648,000 Stake in Maplebear Inc. (NASDAQ:CART)

Farther Finance Advisors LLC grew its holdings in shares of Maplebear Inc. (NASDAQ:CART) by 13.7% during the fourth quarter, HoldingsChannel.com reports. The firm owned 15,642 shares of the company’s stock after acquiring an additional 1,885 shares during the quarter. Farther Finance Advisors LLC’s holdings in Maplebear were worth $648,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in CART. Jones Financial Companies Lllp grew its position in Maplebear by 46.6% during the fourth quarter. Jones Financial Companies Lllp now owns 698 shares of the company’s stock worth $29,000 after buying an additional 222 shares in the last quarter. CIBC Asset Management Inc grew its holdings in shares of Maplebear by 3.7% during the 3rd quarter. CIBC Asset Management Inc now owns 8,114 shares of the company’s stock worth $331,000 after purchasing an additional 286 shares in the last quarter. Allworth Financial LP increased its position in shares of Maplebear by 101.4% in the fourth quarter. Allworth Financial LP now owns 834 shares of the company’s stock worth $37,000 after purchasing an additional 420 shares during the period. Coldstream Capital Management Inc. raised its stake in Maplebear by 1.6% in the third quarter. Coldstream Capital Management Inc. now owns 31,745 shares of the company’s stock valued at $1,294,000 after purchasing an additional 490 shares in the last quarter. Finally, Oppenheimer & Co. Inc. lifted its position in Maplebear by 5.1% during the third quarter. Oppenheimer & Co. Inc. now owns 12,090 shares of the company’s stock worth $493,000 after purchasing an additional 584 shares during the period. 63.09% of the stock is owned by institutional investors.

Maplebear Stock Performance

Shares of NASDAQ CART opened at $38.57 on Friday. Maplebear Inc. has a 52-week low of $29.84 and a 52-week high of $53.44. The company’s 50 day moving average price is $45.55 and its 200-day moving average price is $43.12. The company has a market capitalization of $10.21 billion, a P/E ratio of 25.89, a price-to-earnings-growth ratio of 1.19 and a beta of 1.34.

Maplebear (NASDAQ:CART) last issued its quarterly earnings results on Tuesday, February 25th. The company reported $0.53 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.16. Maplebear had a net margin of 13.37% and a return on equity of 13.78%. The business had revenue of $883.00 million for the quarter, compared to analysts’ expectations of $889.98 million. Analysts forecast that Maplebear Inc. will post 1.43 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on CART. Benchmark restated a “hold” rating on shares of Maplebear in a research report on Wednesday, February 26th. Oppenheimer cut their target price on Maplebear from $65.00 to $60.00 and set an “outperform” rating for the company in a research note on Wednesday, February 26th. Morgan Stanley lifted their price target on Maplebear from $44.00 to $45.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 26th. Seaport Res Ptn upgraded Maplebear to a “strong-buy” rating in a research report on Wednesday, February 12th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $55.00 target price on shares of Maplebear in a research report on Wednesday, February 26th. Thirteen equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $50.52.

Insider Activity at Maplebear

In related news, CAO Alan Ramsay sold 2,247 shares of the business’s stock in a transaction 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 transaction, the chief accounting officer now owns 87,735 shares in the company, valued at $3,697,152.90. The trade was a 2.50 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Fidji Simo sold 20,750 shares of the firm’s stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $42.74, for a total transaction of $886,855.00. Following the completion of the sale, the chief executive officer now owns 1,771,993 shares of the company’s stock, valued at $75,734,980.82. The trade was a 1.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 46,061 shares of company stock worth $1,987,318 in the last 90 days. Corporate insiders own 36.00% of the company’s stock.

Maplebear Company 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.