Arkfeld Wealth Strategies L.L.C. Takes $448,000 Position in Maplebear Inc. (NASDAQ:CART)

Arkfeld Wealth Strategies L.L.C. acquired a new position in shares of Maplebear Inc. (NASDAQ:CART) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 11,645 shares of the company’s stock, valued at approximately $448,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Parallel Advisors LLC grew its holdings in shares of Maplebear by 139.3% in the fourth quarter. Parallel Advisors LLC now owns 1,065 shares of the company’s stock valued at $25,000 after purchasing an additional 620 shares during the period. Cantor Fitzgerald L. P. grew its stake in shares of Maplebear by 389.5% in the 4th quarter. Cantor Fitzgerald L. P. now owns 1,850 shares of the company’s stock valued at $43,000 after buying an additional 2,489 shares during the period. Kapitalo Investimentos Ltda purchased a new stake in shares of Maplebear during the 4th quarter valued at approximately $69,000. Amalgamated Bank acquired a new position in Maplebear in the fourth quarter valued at approximately $94,000. Finally, International Assets Investment Management LLC purchased a new position in Maplebear in the fourth quarter worth approximately $110,000. Institutional investors and hedge funds own 63.09% of the company’s stock.

Maplebear Price Performance

CART traded down $0.78 during trading on Wednesday, reaching $32.10. The company’s stock had a trading volume of 3,538,552 shares, compared to its average volume of 4,273,857. The company’s fifty day moving average price is $33.69 and its 200-day moving average price is $30.96. Maplebear Inc. has a 52-week low of $22.13 and a 52-week high of $42.95.

Maplebear (NASDAQ:CART) last released its quarterly earnings data on Wednesday, May 8th. The company reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.39. The business had revenue of $820.00 million during the quarter, compared to analysts’ expectations of $794.08 million. The company’s revenue for the quarter was up 8.0% compared to the same quarter last year. Research analysts anticipate that Maplebear Inc. will post 1.02 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts recently issued reports on CART shares. Loop Capital raised their price objective on Maplebear from $46.00 to $49.00 and gave the stock a “buy” rating in a research report on Thursday, May 16th. Moffett Nathanson restated a “neutral” rating and set a $37.00 price target (up from $36.00) on shares of Maplebear in a research report on Thursday, April 11th. Needham & Company LLC reiterated a “hold” rating on shares of Maplebear in a report on Tuesday, May 7th. Oppenheimer increased their target price on Maplebear from $36.00 to $48.00 and gave the stock an “outperform” rating in a research note on Monday, April 29th. Finally, Stifel Nicolaus lifted their target price on Maplebear from $44.00 to $45.00 and gave the company a “buy” rating in a research report on Thursday, May 9th. Nine research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $41.25.

Insider Buying and Selling

In related news, General Counsel Morgan Fong sold 18,687 shares of Maplebear stock in a transaction on Monday, April 22nd. The stock was sold at an average price of $34.86, for a total transaction of $651,428.82. Following the completion of the transaction, the general counsel now directly owns 418,973 shares of the company’s stock, valued at $14,605,398.78. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CFO Nick Giovanni sold 10,000 shares of the stock in a transaction that occurred on Wednesday, April 17th. The shares were sold at an average price of $36.97, for a total value of $369,700.00. Following the sale, the chief financial officer now directly owns 576,977 shares in the company, valued at $21,330,839.69. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Morgan Fong sold 18,687 shares of the firm’s stock in a transaction that occurred on Monday, April 22nd. The stock was sold at an average price of $34.86, for a total transaction of $651,428.82. Following the transaction, the general counsel now directly owns 418,973 shares of the company’s stock, valued at $14,605,398.78. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 89,363 shares of company stock valued at $3,086,281. Corporate insiders own 36.00% of the company’s stock.

About Maplebear

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.