Bank of Nova Scotia Has $18.31 Million Stock Holdings in Maplebear Inc. (NASDAQ:CART)

Bank of Nova Scotia grew its position in Maplebear Inc. (NASDAQ:CART) by 83.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 441,949 shares of the company’s stock after buying an additional 200,449 shares during the period. Bank of Nova Scotia owned approximately 0.17% of Maplebear worth $18,306,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Jones Financial Companies Lllp raised its holdings in shares of Maplebear by 46.6% in the 4th quarter. Jones Financial Companies Lllp now owns 698 shares of the company’s stock valued at $29,000 after purchasing an additional 222 shares during the period. Allworth Financial LP boosted its position in shares of Maplebear by 101.4% during the 4th quarter. Allworth Financial LP now owns 834 shares of the company’s stock worth $37,000 after acquiring an additional 420 shares in the last quarter. CIBC Asset Management Inc lifted its stake in Maplebear by 5.4% in the 4th quarter. CIBC Asset Management Inc now owns 8,554 shares of the company’s stock valued at $354,000 after purchasing an additional 440 shares during the last quarter. Coldstream Capital Management Inc. lifted its stake in Maplebear by 1.6% in the 3rd 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 during the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new position in shares of Maplebear during the third quarter valued at $33,000. Institutional investors and hedge funds own 63.09% of the company’s stock.

Maplebear Stock Up 5.2 %

NASDAQ:CART opened at $39.06 on Thursday. The stock has a market cap of $10.34 billion, a price-to-earnings ratio of 26.21, a PEG ratio of 1.19 and a beta of 1.20. The company’s 50 day moving average price is $43.02 and its 200-day moving average price is $43.46. Maplebear Inc. has a 52 week low of $29.84 and a 52 week high of $53.44.

Maplebear (NASDAQ:CART) last announced its quarterly earnings data on Tuesday, February 25th. The company reported $0.53 EPS for the quarter, beating the consensus estimate of $0.37 by $0.16. Maplebear had a net margin of 13.37% and a return on equity of 13.78%. The firm had revenue of $883.00 million for the quarter, compared to the consensus estimate of $889.98 million. As a group, sell-side analysts anticipate that Maplebear Inc. will post 1.43 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on CART shares. BMO Capital Markets increased their price objective on shares of Maplebear from $48.00 to $49.00 and gave the stock a “market perform” rating in a research report on Wednesday, February 26th. Barclays lifted their price objective on shares of Maplebear from $56.00 to $58.00 and gave the company an “overweight” rating in a report on Wednesday, February 26th. Bank of America raised their price target on shares of Maplebear from $51.00 to $53.00 and gave the company a “neutral” rating in a research report on Tuesday, February 25th. JPMorgan Chase & Co. lowered their price objective on shares of Maplebear from $50.00 to $44.00 and set an “overweight” rating on the stock in a research report on Tuesday. Finally, Morgan Stanley lifted their price objective on shares of Maplebear from $44.00 to $45.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 26th. Thirteen investment 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 company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $49.88.

Insider Activity at Maplebear

In other Maplebear news, CAO Alan Ramsay sold 2,314 shares of the company’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $46.28, for a total transaction of $107,091.92. Following the completion of the transaction, the chief accounting officer now directly owns 85,421 shares in the company, valued at approximately $3,953,283.88. This represents a 2.64 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Fidji Simo sold 2,033 shares of the company’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $40.00, for a total transaction of $81,320.00. Following the sale, the chief executive officer now directly owns 1,654,559 shares of the company’s stock, valued at $66,182,360. The trade was a 0.12 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 25,097 shares of company stock worth $1,087,094 in the last 90 days. 36.00% of the stock is owned by corporate insiders.

About Maplebear

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.