1,826,026 Shares in Maplebear Inc. $CART Purchased by William Blair Investment Management LLC

William Blair Investment Management LLC purchased a new position in Maplebear Inc. (NASDAQ:CART) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 1,826,026 shares of the company’s stock, valued at approximately $86,462,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new position in shares of Maplebear during the 2nd quarter worth about $750,477,000. State Street Corp boosted its position in shares of Maplebear by 1.0% in the fourth quarter. State Street Corp now owns 5,461,637 shares of the company’s stock worth $245,664,000 after acquiring an additional 54,872 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Maplebear by 31.4% in the first quarter. Dimensional Fund Advisors LP now owns 4,981,960 shares of the company’s stock valued at $186,618,000 after purchasing an additional 1,189,287 shares during the period. Viking Global Investors LP acquired a new position in Maplebear during the second quarter worth approximately $169,782,000. Finally, Geode Capital Management LLC raised its stake in Maplebear by 1.6% during the fourth quarter. Geode Capital Management LLC now owns 3,526,124 shares of the company’s stock worth $158,640,000 after purchasing an additional 54,010 shares during the period. Hedge funds and other institutional investors own 63.09% of the company’s stock.

Maplebear Stock Down 2.4%

CART opened at $49.83 on Friday. Maplebear Inc. has a 52-week low of $32.73 and a 52-week high of $51.81. The company has a 50 day moving average of $46.61 and a two-hundred day moving average of $41.66. The company has a market cap of $11.54 billion, a P/E ratio of 27.23, a P/E/G ratio of 0.75 and a beta of 0.78.

Maplebear (NASDAQ:CART) last issued its earnings results on Thursday, August 6th. The company reported $0.45 EPS for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.09). The business had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.03 billion. Maplebear had a net margin of 11.97% and a return on equity of 20.19%. The business’s revenue was up 14.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.41 EPS. Research analysts anticipate that Maplebear Inc. will post 2.33 earnings per share for the current year.

Analysts Set New Price Targets

CART has been the topic of a number of research analyst reports. Guggenheim lifted their price target on shares of Maplebear from $44.00 to $46.00 and gave the company a “neutral” rating in a report on Friday, August 7th. Wall Street Zen downgraded Maplebear from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. Barclays increased their target price on Maplebear from $69.00 to $77.00 and gave the stock an “overweight” rating in a research report on Friday, August 7th. Citizens Jmp reiterated a “market outperform” rating and issued a $60.00 target price on shares of Maplebear in a report on Monday, June 15th. Finally, Benchmark upped their price target on Maplebear from $55.00 to $63.00 and gave the stock a “buy” rating in a research note on Friday, August 7th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $55.90.

Insider Buying and Selling at Maplebear

In related news, Director Ravi Gupta sold 181,000 shares of the firm’s stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $41.51, for a total transaction of $7,513,310.00. Following the completion of the sale, the director directly owned 741,523 shares of the company’s stock, valued at approximately $30,780,619.73. This trade represents a 19.62% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 24.00% of the company’s stock.

Maplebear Profile

Maplebear, Inc, doing business as Instacart, operates a leading online grocery and essentials marketplace that connects consumers, retail partners and personal shoppers through its digital platform. The company enables customers to order groceries, household items and specialty products for same-day or scheduled delivery, as well as in-store pickup. By integrating its technology with retailers’ existing inventory and point-of-sale systems, Maplebear streamlines the shopping experience and provides real-time availability and pricing.

Founded in 2012 and headquartered in San Francisco, Maplebear has grown from a regional startup to a publicly traded company listed on NASDAQ under the ticker CART.