Kestra Investment Management LLC Acquires New Stake in Maplebear Inc. $CART

Kestra Investment Management LLC acquired a new stake in Maplebear Inc. (NASDAQ:CART) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 32,431 shares of the company’s stock, valued at approximately $1,398,000.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. BlackRock Inc. bought a new position in Maplebear during the second quarter worth $750,477,000. William Blair Investment Management LLC acquired a new position in Maplebear during the 2nd quarter valued at $86,462,000. Deutsche Bank AG acquired a new position in Maplebear during the 2nd quarter valued at $73,801,000. Goodnow Investment Group LLC bought a new stake in Maplebear in the 2nd quarter valued at $69,898,000. Finally, Bank of America Corp DE bought a new stake in Maplebear in the 2nd quarter valued at $57,392,000. Institutional investors and hedge funds own 63.09% of the company’s stock.

Insider Transactions at Maplebear

In other Maplebear news, CFO Emily Reuter sold 50,000 shares of the business’s stock in a transaction on Friday, October 23rd. The shares were sold at an average price of $55.00, for a total value of $2,750,000.00. Following the sale, the chief financial officer owned 599,337 shares of the company’s stock, valued at $32,963,535. The trade was a 7.70% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Lisa Blackwood-Kapral sold 3,016 shares of the stock in a transaction on Thursday, October 15th. The shares were sold at an average price of $49.58, for a total transaction of $149,533.28. Following the completion of the transaction, the chief accounting officer owned 34,699 shares of the company’s stock, valued at approximately $1,720,376.42. This represents a 8.00% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 309,928 shares of company stock worth $16,121,073. 24.00% of the stock is currently owned by company insiders.

Maplebear Trading Up 0.0%

CART opened at $58.47 on Wednesday. The stock’s 50 day simple moving average is $50.10 and its 200-day simple moving average is $43.96. The stock has a market cap of $13.84 billion, a PE ratio of 30.45, a P/E/G ratio of 1.16 and a beta of 0.68. Maplebear Inc. has a 1 year low of $32.73 and a 1 year high of $62.00.

Maplebear (NASDAQ:CART) last issued its earnings results on Thursday, October 29th. The company reported $0.60 EPS for the quarter, missing the consensus estimate of $0.63 by ($0.03). Maplebear had a return on equity of 22.14% and a net margin of 11.59%. The firm had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $1.07 billion. During the same period last year, the business earned $0.42 earnings per share. The firm’s revenue for the quarter was up 16.6% compared to the same quarter last year. Equities analysts forecast that Maplebear Inc. will post 2.28 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have issued reports on CART. Oppenheimer raised their price target on shares of Maplebear from $60.00 to $65.00 and gave the stock an “outperform” rating in a research report on Friday, August 7th. Needham & Company LLC lowered shares of Maplebear from a “buy” rating to a “hold” rating in a research report on Friday, October 30th. Citigroup increased their target price on shares of Maplebear from $58.00 to $65.00 and gave the company a “buy” rating in a research note on Monday, November 2nd. Wells Fargo & Company increased their target price on shares of Maplebear from $54.00 to $56.00 and gave the company an “equal weight” rating in a research note on Monday, October 5th. Finally, Guggenheim lifted their target price on Maplebear from $44.00 to $46.00 and gave the stock a “neutral” rating in a research report on Friday, August 7th. Seven equities research analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the stock. According to data from MarketBeat.com, Maplebear presently has a consensus rating of “Hold” and an average target price of $59.12.

Maplebear Company Profile

Maplebear Inc., which operates as Instacart, provides an online grocery and retail marketplace in the United States and Canada. Its platform connects customers with local grocery stores and other retailers, enabling them to order products for delivery or pickup. In addition to its consumer app and website, Instacart offers retailers technology and services for online ordering, fulfillment and digital advertising. The company was founded in 2012 and is led by CEO Fidji Simo.