Maplebear Inc. (NASDAQ:CART) Shares Purchased by UMB Bank n.a.

UMB Bank n.a. grew its position in shares of Maplebear Inc. (NASDAQ:CART) by 914.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,004 shares of the company’s stock after acquiring an additional 905 shares during the quarter. UMB Bank n.a.’s holdings in Maplebear were worth $40,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Renaissance Capital LLC increased its position in Maplebear by 16.2% during the 1st quarter. Renaissance Capital LLC now owns 178,063 shares of the company’s stock worth $7,103,000 after purchasing an additional 24,874 shares in the last quarter. Gateway Investment Advisers LLC purchased a new stake in Maplebear during the first quarter worth approximately $501,000. Congress Asset Management Co. acquired a new stake in shares of Maplebear in the first quarter worth $11,723,000. Arkfeld Wealth Strategies L.L.C. raised its stake in shares of Maplebear by 2.5% in the 1st quarter. Arkfeld Wealth Strategies L.L.C. now owns 19,098 shares of the company’s stock valued at $746,000 after acquiring an additional 470 shares during the period. Finally, Intellectus Partners LLC lifted its holdings in shares of Maplebear by 4.7% during the 1st quarter. Intellectus Partners LLC now owns 23,552 shares of the company’s stock valued at $939,000 after acquiring an additional 1,052 shares in the last quarter. 63.09% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Maplebear

In other Maplebear news, Director Levien Meredith A. Kopit sold 4,225 shares of Maplebear stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $47.45, for a total transaction of $200,476.25. Following the sale, the director now owns 20,829 shares of the company’s stock, valued at $988,336.05. The trade was a 16.86% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Morgan Fong sold 5,249 shares of Maplebear 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 sale, 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 disclosure for this sale can be found here. Over the last three months, insiders have sold 19,640 shares of company stock worth $843,579. 26.00% of the stock is owned by insiders.

Maplebear Stock Performance

Maplebear stock opened at $43.37 on Friday. Maplebear Inc. has a 1 year low of $29.84 and a 1 year high of $53.44. The firm’s 50-day moving average is $43.76 and its 200-day moving average is $43.74. The company has a market cap of $11.39 billion, a P/E ratio of 29.11, a PEG ratio of 1.19 and a beta of 1.30.

Maplebear (NASDAQ:CART) last announced its quarterly earnings results on Thursday, May 1st. The company reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.01). Maplebear had a return on equity of 13.78% and a net margin of 13.37%. The company had revenue of $897.00 million for the quarter, compared to analyst estimates of $896.86 million. During the same quarter in the previous year, the company posted $0.43 earnings per share. The firm’s revenue for the quarter was up 9.4% compared to the same quarter last year. As a group, sell-side analysts predict that Maplebear Inc. will post 1.43 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have commented on CART. Bank of America raised their price objective on Maplebear from $51.00 to $53.00 and gave the company a “neutral” rating in a research report on Tuesday, February 25th. Cantor Fitzgerald reiterated an “overweight” rating and set a $55.00 target price on shares of Maplebear in a report on Wednesday, February 26th. BMO Capital Markets upped their price target on Maplebear from $48.00 to $49.00 and gave the stock a “market perform” rating in a report on Wednesday, February 26th. Needham & Company LLC reiterated a “buy” rating and set a $56.00 price objective on shares of Maplebear in a research note on Friday, May 2nd. Finally, JMP Securities restated a “market outperform” rating and issued a $55.00 target price on shares of Maplebear in a research note on Thursday. Thirteen investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Maplebear presently has a consensus rating of “Moderate Buy” and a consensus target price of $51.91.

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.