SC US Ttgp LTD. Has $1.05 Billion Holdings in Maplebear Inc. $CART

SC US Ttgp LTD. cut its position in Maplebear Inc. (NASDAQ:CART) by 0.2% in the 1st quarter, Holdings Channel reports. The institutional investor owned 27,928,385 shares of the company’s stock after selling 66,882 shares during the quarter. Maplebear accounts for approximately 11.3% of SC US Ttgp LTD.’s investment portfolio, making the stock its 2nd biggest holding. SC US Ttgp LTD. owned about 0.12% of Maplebear worth $1,046,197,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. State Street Corp grew its holdings in shares of Maplebear by 1.0% during the fourth quarter. State Street Corp now owns 5,461,637 shares of the company’s stock valued at $245,664,000 after buying an additional 54,872 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Maplebear by 31.4% during the first quarter. Dimensional Fund Advisors LP now owns 4,981,960 shares of the company’s stock valued at $186,618,000 after acquiring an additional 1,189,287 shares in the last quarter. Viking Global Investors LP purchased a new position in Maplebear in the 2nd quarter worth approximately $169,782,000. Geode Capital Management LLC lifted its position in Maplebear by 1.6% in the 4th quarter. Geode Capital Management LLC now owns 3,526,124 shares of the company’s stock valued at $158,640,000 after acquiring an additional 54,010 shares in the last quarter. Finally, Federated Hermes Inc. lifted its position in Maplebear by 3.2% in the 4th quarter. Federated Hermes Inc. now owns 3,287,952 shares of the company’s stock valued at $147,892,000 after acquiring an additional 101,278 shares in the last quarter. Institutional investors own 63.09% of the company’s stock.

Insider Activity at Maplebear

In other news, Director Ravi Gupta sold 181,000 shares of the stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $41.51, for a total value of $7,513,310.00. Following the transaction, the director owned 741,523 shares in the company, valued at $30,780,619.73. This represents a 19.62% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 24.00% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research firms have commented on CART. Citizens Jmp reissued a “market outperform” rating and issued a $60.00 target price on shares of Maplebear in a report on Monday, June 15th. Needham & Company LLC reaffirmed a “buy” rating and set a $55.00 price target on shares of Maplebear in a report on Thursday, May 7th. Barclays increased their price objective on Maplebear from $65.00 to $69.00 and gave the company an “overweight” rating in a research report on Thursday, May 7th. Weiss Ratings raised Maplebear from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, May 11th. Finally, Wells Fargo & Company upped their target price on shares of Maplebear from $45.00 to $47.00 and gave the company an “equal weight” rating in a research note on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $51.48.

Maplebear Trading Down 0.8%

Shares of CART opened at $42.21 on Friday. The firm has a market cap of $9.92 billion, a PE ratio of 23.58, a P/E/G ratio of 0.58 and a beta of 0.75. The firm has a fifty day simple moving average of $43.98 and a two-hundred day simple moving average of $40.64. Maplebear Inc. has a 1-year low of $32.73 and a 1-year high of $53.50.

Maplebear (NASDAQ:CART) last released its quarterly earnings results on Wednesday, May 6th. The company reported $0.57 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.01). The firm had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1.01 billion. Maplebear had a return on equity of 18.67% and a net margin of 12.50%.The business’s quarterly revenue was up 13.6% on a year-over-year basis. During the same quarter last year, the business earned $0.37 earnings per share. As a group, research analysts forecast that Maplebear Inc. will post 2.46 EPS for the current fiscal year.

About Maplebear

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.