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

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

Other large investors have also modified their holdings of the company. JPMorgan Chase & Co. raised its holdings in shares of Maplebear by 7.5% during the second quarter. JPMorgan Chase & Co. now owns 1,040,129 shares of the company’s stock worth $47,055,000 after purchasing an additional 72,643 shares during the last quarter. Champlain Investment Partners LLC boosted its holdings in Maplebear by 64.4% in the second quarter. Champlain Investment Partners LLC now owns 2,157,010 shares of the company’s stock valued at $97,583,000 after purchasing an additional 845,070 shares during the last quarter. Sentry Investment Management LLC acquired a new stake in Maplebear during the 2nd quarter worth about $391,000. Mitsubishi UFJ Trust & Banking Corp raised its stake in shares of Maplebear by 261.8% during the 2nd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 99,868 shares of the company’s stock valued at $4,518,000 after buying an additional 72,265 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of Maplebear during the 2nd quarter valued at about $97,351,000. Hedge funds and other institutional investors own 63.09% of the company’s stock.

Maplebear Price Performance

Shares of CART stock opened at $39.41 on Friday. Maplebear Inc. has a 1-year low of $34.78 and a 1-year high of $53.50. The company has a market cap of $10.35 billion, a price-to-earnings ratio of 21.65, a PEG ratio of 1.02 and a beta of 0.97. The stock has a 50 day simple moving average of $42.92 and a 200-day simple moving average of $43.42.

Maplebear (NASDAQ:CART) last released its quarterly earnings results on Monday, November 10th. The company reported $0.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.50 by $0.01. The firm had revenue of $939.00 million for the quarter, compared to analysts’ expectations of $933.76 million. Maplebear had a net margin of 14.09% and a return on equity of 15.72%. The firm’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.42 EPS. Analysts anticipate that Maplebear Inc. will post 1.43 earnings per share for the current fiscal year.

Insider Activity

In other news, General Counsel Morgan Fong sold 4,914 shares of the business’s stock in a transaction dated Monday, December 22nd. The shares were 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 owned 404,940 shares of the company’s stock, valued at $18,307,337.40. The trade was a 1.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 26.00% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have recently commented on CART shares. Needham & Company LLC lowered their target price on Maplebear from $66.00 to $50.00 and set a “buy” rating on the stock in a research note on Tuesday, November 11th. Mizuho began coverage on Maplebear in a research report on Tuesday, September 30th. They issued a “neutral” rating and a $45.00 price objective on the stock. Jefferies Financial Group raised their price objective on shares of Maplebear from $41.00 to $48.00 and gave the stock a “hold” rating in a research note on Thursday, December 11th. Guggenheim assumed coverage on shares of Maplebear in a research note on Wednesday, October 15th. They issued a “neutral” rating and a $40.00 target price for the company. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Maplebear in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eleven have given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $51.73.

Maplebear Company 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.