Jefferies Financial Group Inc. Makes New $3.17 Million Investment in Maplebear Inc. $CART

Jefferies Financial Group Inc. acquired a new stake in Maplebear Inc. (NASDAQ:CART) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 70,000 shares of the company’s stock, valued at approximately $3,167,000.

A number of other hedge funds have also made changes to their positions in CART. Brooklyn Investment Group bought a new stake in Maplebear during the first quarter worth approximately $40,000. CWM LLC boosted its stake in Maplebear by 35.1% during the 1st quarter. CWM LLC now owns 1,058 shares of the company’s stock valued at $42,000 after purchasing an additional 275 shares in the last quarter. Fifth Third Bancorp increased its position in shares of Maplebear by 123.7% during the 2nd quarter. Fifth Third Bancorp now owns 1,190 shares of the company’s stock valued at $54,000 after purchasing an additional 658 shares during the period. SRH Advisors LLC bought a new stake in shares of Maplebear in the 2nd quarter worth $61,000. Finally, Huntington National Bank raised its stake in shares of Maplebear by 2,288.5% in the 2nd quarter. Huntington National Bank now owns 1,457 shares of the company’s stock worth $66,000 after buying an additional 1,396 shares in the last quarter. Institutional investors and hedge funds own 63.09% of the company’s stock.

Insiders Place Their Bets

In other news, Director Fidji Simo sold 7,140 shares of Maplebear stock in a transaction on Monday, September 15th. The stock was sold at an average price of $47.30, for a total transaction of $337,722.00. Following the transaction, the director owned 573,807 shares in the company, valued at approximately $27,141,071.10. The trade was a 1.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Chris Rogers sold 9,259 shares of the company’s stock in a transaction on Monday, September 22nd. The shares were sold at an average price of $42.37, for a total value of $392,303.83. Following the transaction, the chief executive officer directly owned 739,880 shares in the company, valued at $31,348,715.60. The trade was a 1.24% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 27,556 shares of company stock worth $1,179,482. Corporate insiders own 26.00% of the company’s stock.

Wall Street Analysts Forecast Growth

CART has been the subject of several research reports. JPMorgan Chase & Co. decreased their target price on Maplebear from $65.00 to $55.00 and set an “overweight” rating for the company in a research note on Tuesday, November 11th. Citigroup cut their price target on shares of Maplebear from $65.00 to $50.00 and set a “buy” rating for the company in a report on Tuesday, November 11th. Needham & Company LLC reduced their price objective on shares of Maplebear from $66.00 to $50.00 and set a “buy” rating for the company in a research report on Tuesday, November 11th. Benchmark lowered their price objective on shares of Maplebear from $67.00 to $60.00 and set a “buy” rating on the stock in a research note on Tuesday, November 11th. Finally, JMP Securities increased their target price on shares of Maplebear from $55.00 to $60.00 and gave the company a “market outperform” rating in a research note on Friday, August 8th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $51.40.

Maplebear Price Performance

Shares of CART opened at $42.19 on Wednesday. Maplebear Inc. has a one year low of $34.78 and a one year high of $53.50. The company has a 50-day moving average of $39.42 and a two-hundred day moving average of $43.78. The stock has a market cap of $11.08 billion, a price-to-earnings ratio of 23.18, a PEG ratio of 1.32 and a beta of 1.10.

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 business had revenue of $939.00 million for the quarter, compared to analyst estimates of $933.76 million. Maplebear had a net margin of 14.09% and a return on equity of 15.72%. The firm’s revenue was up 10.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.42 earnings per share. Analysts anticipate that Maplebear Inc. will post 1.43 earnings per share for the current year.

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.