Alpine Woods Capital Investors LLC Raises Stock Holdings in Maplebear Inc. $CART

Alpine Woods Capital Investors LLC increased its stake in shares of Maplebear Inc. (NASDAQ:CART) by 132.3% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 47,932 shares of the company’s stock after purchasing an additional 27,297 shares during the quarter. Alpine Woods Capital Investors LLC’s holdings in Maplebear were worth $2,168,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Principal Financial Group Inc. lifted its stake in shares of Maplebear by 4,154.7% during the 1st quarter. Principal Financial Group Inc. now owns 372,581 shares of the company’s stock worth $14,862,000 after purchasing an additional 363,824 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Maplebear by 18.6% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,056 shares of the company’s stock worth $82,000 after purchasing an additional 322 shares during the last quarter. Cambridge Investment Research Advisors Inc. lifted its stake in shares of Maplebear by 7.6% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 6,166 shares of the company’s stock worth $246,000 after purchasing an additional 433 shares during the last quarter. Golden State Wealth Management LLC lifted its stake in shares of Maplebear by 100.0% during the 1st quarter. Golden State Wealth Management LLC now owns 1,066 shares of the company’s stock worth $43,000 after purchasing an additional 533 shares during the last quarter. Finally, New York State Teachers Retirement System raised its stake in Maplebear by 542.8% in the first quarter. New York State Teachers Retirement System now owns 101,720 shares of the company’s stock valued at $4,058,000 after buying an additional 85,896 shares during the last quarter. 63.09% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Fox Advisors upgraded Maplebear from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 3rd. Morgan Stanley increased their price target on Maplebear from $45.00 to $48.00 and gave the company an “equal weight” rating in a research note on Friday, August 15th. JMP Securities increased their price target on Maplebear from $55.00 to $60.00 and gave the company a “market outperform” rating in a research note on Friday, August 8th. Barclays increased their price target on Maplebear from $61.00 to $65.00 and gave the company an “overweight” rating in a research note on Friday, August 8th. Finally, Piper Sandler cut Maplebear from an “overweight” rating to a “neutral” rating and set a $41.00 price target for the company. in a research note on Friday, October 3rd. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $53.42.

Insiders Place Their Bets

In other news, CEO Chris Rogers sold 9,259 shares of the stock in a transaction dated Monday, September 22nd. The stock was 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 of the company’s stock, valued at approximately $31,348,715.60. This represents a 1.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Morgan Fong sold 4,680 shares of the firm’s stock in a transaction dated Monday, July 21st. The stock was sold at an average price of $49.16, for a total value of $230,068.80. Following the sale, the general counsel directly owned 452,000 shares in the company, valued at approximately $22,220,320. This trade represents a 1.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 4,972,134 shares of company stock valued at $237,530,070. Insiders own 26.00% of the company’s stock.

Maplebear Stock Performance

Shares of CART stock opened at $38.73 on Tuesday. The stock’s 50-day simple moving average is $43.67 and its 200-day simple moving average is $44.27. The firm has a market capitalization of $10.20 billion, a PE ratio of 22.39, a P/E/G ratio of 1.18 and a beta of 1.10. Maplebear Inc. has a fifty-two week low of $34.87 and a fifty-two week high of $53.50.

Maplebear (NASDAQ:CART) last announced its quarterly earnings data on Thursday, August 7th. The company reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.39 by $0.02. The business had revenue of $914.00 million for the quarter, compared to analyst estimates of $896.55 million. Maplebear had a return on equity of 15.69% and a net margin of 13.76%.The company’s revenue was up 11.1% on a year-over-year basis. During the same period in the prior year, the company earned $0.20 earnings per share. Sell-side analysts forecast that Maplebear Inc. will post 1.43 earnings per share for the current year.

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.