Corient Private Wealth LLC Purchases Shares of 20,422 Maplebear Inc. $CART

Corient Private Wealth LLC acquired a new position in shares of Maplebear Inc. (NASDAQ:CART) in the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 20,422 shares of the company’s stock, valued at approximately $912,000.

Several other institutional investors and hedge funds have also recently modified their holdings of CART. PenderFund Capital Management Ltd. bought a new position in Maplebear during the 4th quarter valued at $27,000. Allworth Financial LP raised its holdings in shares of Maplebear by 35.7% in the third quarter. Allworth Financial LP now owns 928 shares of the company’s stock valued at $34,000 after purchasing an additional 244 shares during the last quarter. IFP Advisors Inc raised its holdings in shares of Maplebear by 761.3% in 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. Sunbelt Securities Inc. boosted its stake in shares of Maplebear by 212.7% in the 3rd quarter. Sunbelt Securities Inc. now owns 1,157 shares of the company’s stock worth $43,000 after buying an additional 787 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB grew its holdings in shares of Maplebear by 49.2% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 1,462 shares of the company’s stock valued at $66,000 after acquiring an additional 482 shares in the last quarter. 63.09% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Maplebear

In other Maplebear news, Director Ravi Gupta sold 181,000 shares of the firm’s 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 transaction, the director directly owned 741,523 shares of the company’s stock, valued at $30,780,619.73. This trade 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, CAO Lisa Blackwood-Kapral sold 9,390 shares of the stock in a transaction on Wednesday, April 15th. The stock was sold at an average price of $40.25, for a total value of $377,947.50. Following the completion of the sale, the chief accounting officer owned 58,971 shares in the company, valued at $2,373,582.75. This trade represents a 13.74% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 24.00% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on CART. Argus raised Maplebear to a “strong-buy” rating in a research report on Thursday, March 5th. Needham & Company LLC reiterated a “buy” rating and issued a $55.00 target price on shares of Maplebear in a research note on Thursday, May 7th. Weiss Ratings upgraded Maplebear from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, May 11th. Raymond James Financial raised Maplebear from a “hold” rating to a “moderate buy” rating in a report on Thursday, April 9th. Finally, Jefferies Financial Group raised Maplebear from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $38.00 to $45.00 in a report on Monday, March 30th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, Maplebear currently has an average rating of “Moderate Buy” and an average price target of $51.09.

Maplebear Stock Up 2.1%

Shares of NASDAQ CART opened at $45.78 on Friday. The company has a market cap of $10.76 billion, a P/E ratio of 25.58, a P/E/G ratio of 0.61 and a beta of 0.75. Maplebear Inc. has a 52 week low of $32.73 and a 52 week high of $53.50. The business has a 50-day simple moving average of $42.28 and a two-hundred day simple moving average of $40.46.

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

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.