Counterpoint Mutual Funds LLC Takes $2.24 Million Position in Maplebear Inc. $CART

Counterpoint Mutual Funds LLC bought a new position in shares of Maplebear Inc. (NASDAQ:CART) during the third quarter, according to its most recent filing with the SEC. The fund bought 60,907 shares of the company’s stock, valued at approximately $2,239,000.

Other institutional investors also recently added to or reduced their stakes in the company. Royal Bank of Canada raised its position in Maplebear by 51.2% in the first quarter. Royal Bank of Canada now owns 131,789 shares of the company’s stock worth $5,256,000 after acquiring an additional 44,642 shares during the period. NewEdge Advisors LLC grew its position in shares of Maplebear by 71.6% during the 1st quarter. NewEdge Advisors LLC now owns 1,673 shares of the company’s stock valued at $67,000 after acquiring an additional 698 shares during the period. Jones Financial Companies Lllp increased its stake in shares of Maplebear by 358.5% during the 1st quarter. Jones Financial Companies Lllp now owns 3,200 shares of the company’s stock worth $128,000 after purchasing an additional 2,502 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Maplebear by 17.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 390,711 shares of the company’s stock worth $15,585,000 after purchasing an additional 57,879 shares during the period. Finally, Empowered Funds LLC bought a new stake in shares of Maplebear in the 1st quarter worth approximately $268,000. Institutional investors own 63.09% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on CART. BNP Paribas Exane initiated coverage on Maplebear in a report on Wednesday, January 14th. They set an “underperform” rating and a $41.00 price objective for the company. Needham & Company LLC increased their price target on Maplebear from $50.00 to $55.00 and gave the stock a “buy” rating in a research note on Friday, February 13th. Fox Advisors lowered Maplebear from a “strong-buy” rating to a “hold” rating in a report on Thursday, December 18th. Wall Street Zen raised shares of Maplebear from a “hold” rating to a “buy” rating in a report on Saturday, February 14th. Finally, Cantor Fitzgerald increased their target price on shares of Maplebear from $45.00 to $54.00 and gave the stock an “overweight” rating in a research report on Thursday, January 8th. Fifteen equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $51.38.

Maplebear Trading Down 0.2%

Maplebear stock opened at $36.16 on Tuesday. Maplebear Inc. has a 1-year low of $32.73 and a 1-year high of $53.50. The firm has a market capitalization of $9.49 billion, a PE ratio of 22.74, a price-to-earnings-growth ratio of 0.55 and a beta of 1.00. The firm’s 50 day simple moving average is $40.15 and its 200 day simple moving average is $41.27.

Insider Buying and Selling at Maplebear

In other news, General Counsel Morgan Fong sold 4,914 shares of the company’s stock in a transaction on Monday, December 22nd. The shares were sold at an average price of $45.21, for a total value of $222,161.94. Following the transaction, the general counsel owned 404,940 shares of the company’s stock, valued at approximately $18,307,337.40. This represents a 1.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 26.00% of the company’s stock.

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.