468,134 Shares in Maplebear Inc. $CART Acquired by Valueworks LLC

Valueworks LLC bought a new position in shares of Maplebear Inc. (NASDAQ:CART) in the second quarter, Holdings Channel reports. The fund bought 468,134 shares of the company’s stock, valued at approximately $22,166,000. Maplebear makes up approximately 4.6% of Valueworks LLC’s investment portfolio, making the stock its 5th biggest holding.

Several other hedge funds have also recently added to or reduced their stakes in the business. Pinnacle Bancorp Inc. bought a new position in shares of Maplebear in the first quarter valued at $25,000. PenderFund Capital Management Ltd. acquired a new position in shares of Maplebear in the 4th quarter worth $27,000. Allworth Financial LP raised its position in shares of Maplebear by 35.7% during the third quarter. Allworth Financial LP now owns 928 shares of the company’s stock worth $34,000 after purchasing an additional 244 shares during the period. IFP Advisors Inc lifted its holdings in shares of Maplebear by 761.3% during the fourth quarter. IFP Advisors Inc now owns 956 shares of the company’s stock valued at $43,000 after purchasing an additional 845 shares during the last quarter. Finally, Sunbelt Securities Inc. boosted its position in shares of Maplebear by 212.7% in the 3rd quarter. Sunbelt Securities Inc. now owns 1,157 shares of the company’s stock valued at $43,000 after purchasing an additional 787 shares during the period. Institutional investors and hedge funds own 63.09% of the company’s stock.

Insider Buying and Selling at Maplebear

In other Maplebear news, Director Ravi Gupta sold 181,000 shares of the stock in a transaction 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 completion of the sale, the director directly owned 741,523 shares of the company’s stock, 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. Also, insider Morgan Fong sold 18,390 shares of the business’s stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $49.96, for a total transaction of $918,764.40. Following the transaction, the insider owned 529,911 shares in the company, valued at approximately $26,474,353.56. The trade was a 3.35% 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 quarter, insiders have sold 349,390 shares of company stock valued at $16,023,574. Corporate insiders own 24.00% of the company’s stock.

Maplebear Stock Performance

Maplebear stock opened at $50.48 on Friday. Maplebear Inc. has a 52 week low of $32.73 and a 52 week high of $52.05. The firm has a market capitalization of $11.69 billion, a PE ratio of 27.58, a PEG ratio of 0.75 and a beta of 0.78. The business’s 50-day simple moving average is $47.23 and its 200-day simple moving average is $42.13.

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

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Barclays boosted their price objective on Maplebear from $69.00 to $77.00 and gave the stock an “overweight” rating in a report on Friday, August 7th. BNP Paribas Exane upgraded shares of Maplebear from an “underperform” rating to a “neutral” rating and set a $56.00 price target on the stock in a report on Friday, August 7th. Needham & Company LLC raised their price objective on shares of Maplebear from $55.00 to $63.00 and gave the stock a “buy” rating in a research note on Friday, August 7th. Wedbush started coverage on shares of Maplebear in a research note on Thursday, July 16th. They set an “outperform” rating and a $59.00 target price on the stock. Finally, Cantor Fitzgerald raised their target price on Maplebear from $56.00 to $63.00 and gave the stock an “overweight” rating in a research report on Friday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $55.90.

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.