Crestwood Capital Management L.P. Trims Position in Maplebear Inc. $CART

Crestwood Capital Management L.P. trimmed its stake in shares of Maplebear Inc. (NASDAQ:CART) by 6.5% during the fourth quarter, HoldingsChannel reports. The fund owned 289,896 shares of the company’s stock after selling 20,000 shares during the quarter. Maplebear comprises approximately 8.3% of Crestwood Capital Management L.P.’s holdings, making the stock its 7th largest position. Crestwood Capital Management L.P.’s holdings in Maplebear were worth $13,040,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Hantz Financial Services Inc. boosted its stake in Maplebear by 78.6% during the 3rd quarter. Hantz Financial Services Inc. now owns 884 shares of the company’s stock valued at $32,000 after acquiring an additional 389 shares during the last quarter. Allworth Financial LP boosted its stake in Maplebear by 35.7% during the 3rd quarter. Allworth Financial LP now owns 928 shares of the company’s stock valued at $34,000 after acquiring an additional 244 shares during the last quarter. Abich Financial Wealth Management LLC bought a new position in Maplebear during the 3rd quarter valued at $43,000. IFP Advisors Inc boosted its stake in Maplebear by 761.3% during the 4th quarter. IFP Advisors Inc now owns 956 shares of the company’s stock valued at $43,000 after acquiring an additional 845 shares during the last quarter. Finally, Sunbelt Securities Inc. boosted its stake in Maplebear by 212.7% during the 3rd quarter. Sunbelt Securities Inc. now owns 1,157 shares of the company’s stock valued at $43,000 after acquiring an additional 787 shares during the last quarter. 63.09% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have commented on CART shares. Wall Street Zen downgraded shares of Maplebear from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Raymond James Financial raised shares of Maplebear from a “hold” rating to a “moderate buy” rating in a report on Thursday, April 9th. Needham & Company LLC reissued a “buy” rating and set a $55.00 target price on shares of Maplebear in a report on Thursday, May 7th. Barclays increased their target price on shares of Maplebear from $65.00 to $69.00 and gave the stock an “overweight” rating in a report on Thursday, May 7th. Finally, Wells Fargo & Company increased their target price on shares of Maplebear from $45.00 to $47.00 and gave the stock an “equal weight” rating in a report on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $51.09.

Maplebear Price Performance

CART stock opened at $41.26 on Monday. Maplebear Inc. has a fifty-two week low of $32.73 and a fifty-two week high of $53.50. The firm’s 50-day simple moving average is $40.51 and its 200 day simple moving average is $40.23. The stock has a market cap of $9.70 billion, a PE ratio of 23.05, a price-to-earnings-growth ratio of 0.57 and a beta of 0.88.

Maplebear (NASDAQ:CART) last released its quarterly earnings data on Wednesday, May 6th. The company reported $0.57 earnings per share for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.01). Maplebear had a return on equity of 18.67% and a net margin of 12.50%.The firm had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.01 billion. During the same period last year, the business earned $0.37 EPS. The firm’s revenue was up 13.6% on a year-over-year basis. Equities analysts forecast that Maplebear Inc. will post 2.45 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CAO Lisa Blackwood-Kapral sold 9,390 shares of the stock in a transaction dated Wednesday, April 15th. The shares were sold at an average price of $40.25, for a total value of $377,947.50. Following the sale, the chief accounting officer owned 58,971 shares of the company’s stock, valued at $2,373,582.75. This trade represents a 13.74% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ravi Gupta sold 181,000 shares of the stock in a transaction dated Tuesday, June 2nd. The stock was 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 in the company, valued at approximately $30,780,619.73. This trade represents a 19.62% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 325,863 shares of company stock valued at $12,931,445 in the last quarter. Company insiders own 24.00% of the company’s stock.

Maplebear Company 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.