Motley Fool Asset Management LLC Purchases 863 Shares of Maplebear Inc. $CART

Motley Fool Asset Management LLC grew its position in shares of Maplebear Inc. (NASDAQ:CART) by 11.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,396 shares of the company’s stock after buying an additional 863 shares during the period. Motley Fool Asset Management LLC’s holdings in Maplebear were worth $380,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Teacher Retirement System of Texas increased its position in Maplebear by 14.4% during the 2nd quarter. Teacher Retirement System of Texas now owns 50,604 shares of the company’s stock worth $2,289,000 after buying an additional 6,373 shares during the period. Y Intercept Hong Kong Ltd increased its position in Maplebear by 89.5% during the 2nd quarter. Y Intercept Hong Kong Ltd now owns 22,948 shares of the company’s stock worth $1,038,000 after buying an additional 10,840 shares during the period. Envestnet Asset Management Inc. increased its position in Maplebear by 11.5% during the 2nd quarter. Envestnet Asset Management Inc. now owns 178,763 shares of the company’s stock worth $8,087,000 after buying an additional 18,436 shares during the period. Shaker Investments LLC OH bought a new position in Maplebear during the 2nd quarter worth $1,854,000. Finally, State of New Jersey Common Pension Fund D increased its position in Maplebear by 10.2% during the 2nd quarter. State of New Jersey Common Pension Fund D now owns 57,717 shares of the company’s stock worth $2,611,000 after buying an additional 5,324 shares during the period. Institutional investors own 63.09% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on CART. Robert W. Baird lowered their price objective on Maplebear from $60.00 to $50.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 1st. Needham & Company LLC increased their target price on Maplebear from $56.00 to $66.00 and gave the stock a “buy” rating in a report on Friday, August 8th. Wedbush reissued an “underperform” rating and set a $42.00 target price (down from $55.00) on shares of Maplebear in a report on Thursday, August 21st. Bank of America increased their target price on Maplebear from $53.00 to $58.00 and gave the stock a “neutral” rating in a report on Friday, August 8th. Finally, Wells Fargo & Company reduced their target price on Maplebear from $57.00 to $47.00 and set an “equal weight” rating on the stock in a report on Friday, October 3rd. Two research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $52.12.

Maplebear Stock Performance

CART opened at $37.82 on Wednesday. The business’s fifty day moving average is $41.75 and its 200-day moving average is $44.28. The firm has a market cap of $9.96 billion, a P/E ratio of 21.86, a price-to-earnings-growth ratio of 1.18 and a beta of 1.10. Maplebear Inc. has a 52-week low of $34.87 and a 52-week high of $53.50.

Maplebear (NASDAQ:CART) last released its quarterly earnings data on Thursday, August 7th. The company reported $0.41 earnings per share for the quarter, beating the consensus estimate 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%.Maplebear’s revenue was up 11.1% compared to the same quarter last year. During the same period last year, the firm posted $0.20 earnings per share. On average, research analysts predict that Maplebear Inc. will post 1.43 earnings per share for the current fiscal year.

Insider Activity at Maplebear

In related news, CEO Chris Rogers sold 9,259 shares of the firm’s 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 sale, the chief executive officer directly owned 739,880 shares of the company’s stock, valued at $31,348,715.60. This trade represents a 1.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Fidji Simo sold 1,014 shares of the firm’s stock in a transaction dated Thursday, October 16th. The shares were sold at an average price of $40.00, for a total value of $40,560.00. Following the completion of the sale, the director directly owned 569,742 shares in the company, valued at $22,789,680. This trade represents a 0.18% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 27,556 shares of company stock valued at $1,179,482 over the last ninety days. 26.00% of the stock is owned by corporate insiders.

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.