Flatrock Wealth Partners LLC Invests $601,000 in Maplebear Inc. $CART

Flatrock Wealth Partners LLC bought a new stake in Maplebear Inc. (NASDAQ:CART) in the first quarter, HoldingsChannel.com reports. The firm bought 16,043 shares of the company’s stock, valued at approximately $601,000.

A number of other hedge funds have also bought and sold shares of the business. Y Intercept Hong Kong Ltd acquired a new stake in Maplebear in the 1st quarter worth about $1,210,000. Impact Partnership Wealth LLC acquired a new position in shares of Maplebear during the 1st quarter worth approximately $549,000. Lansforsakringar Fondforvaltning AB publ bought a new position in shares of Maplebear during the first quarter worth approximately $659,000. Pinnacle Bancorp Inc. bought a new position in shares of Maplebear during the first quarter worth approximately $25,000. Finally, Janney Montgomery Scott LLC raised its position in shares of Maplebear by 2.2% in the first quarter. Janney Montgomery Scott LLC now owns 29,359 shares of the company’s stock valued at $1,100,000 after buying an additional 626 shares in the last quarter. 63.09% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on CART. Wall Street Zen cut Maplebear from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Wells Fargo & Company lifted their price objective on Maplebear from $45.00 to $47.00 and gave the company an “equal weight” rating in a report on Thursday, May 7th. Raymond James Financial upgraded Maplebear from a “hold” rating to a “moderate buy” rating in a research report on Thursday, April 9th. Jefferies Financial Group raised Maplebear from a “hold” rating to a “buy” rating and increased their target price for the stock from $38.00 to $45.00 in a report on Monday, March 30th. Finally, Citizens Jmp restated a “market outperform” rating and issued a $60.00 price target on shares of Maplebear in a research report on Monday, June 15th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, nine have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $51.09.

Maplebear Stock Performance

Shares of CART stock opened at $48.08 on Wednesday. Maplebear Inc. has a fifty-two week low of $32.73 and a fifty-two week high of $53.50. The stock’s fifty day moving average price is $42.54 and its two-hundred day moving average price is $40.50. The company has a market cap of $11.30 billion, a PE ratio of 26.86, a P/E/G ratio of 0.65 and a beta of 0.75.

Maplebear (NASDAQ:CART) last announced its quarterly earnings data 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). The business had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.01 billion. Maplebear had a return on equity of 18.67% and a net margin of 12.50%.Maplebear’s quarterly revenue was up 13.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.37 earnings per share. On average, equities analysts predict that Maplebear Inc. will post 2.45 EPS for the current fiscal year.

Insider Transactions at Maplebear

In related news, Director Ravi Gupta sold 181,000 shares of Maplebear stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $41.51, for a total transaction of $7,513,310.00. Following the sale, the director directly owned 741,523 shares of the company’s stock, valued at approximately $30,780,619.73. The trade was a 19.62% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Lisa Blackwood-Kapral sold 9,390 shares of the company’s stock in a transaction that occurred on Wednesday, April 15th. The stock was sold at an average price of $40.25, for a total transaction of $377,947.50. Following the transaction, the chief accounting officer owned 58,971 shares of the company’s stock, valued at approximately $2,373,582.75. This represents a 13.74% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 24.00% of the stock is currently owned by corporate insiders.

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.