Renaissance Technologies LLC Has $58.70 Million Stake in Maplebear Inc. $CART

Renaissance Technologies LLC lifted its position in Maplebear Inc. (NASDAQ:CART) by 10.0% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,567,054 shares of the company’s stock after buying an additional 142,600 shares during the quarter. Renaissance Technologies LLC’s holdings in Maplebear were worth $58,702,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Allworth Financial LP lifted its stake in 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 acquiring an additional 244 shares during the last quarter. Smartleaf Asset Management LLC raised its holdings in shares of Maplebear by 9.6% during the 2nd quarter. Smartleaf Asset Management LLC now owns 2,978 shares of the company’s stock valued at $134,000 after purchasing an additional 261 shares in the last quarter. Rafferty Asset Management LLC lifted its stake in shares of Maplebear by 2.5% in the 2nd quarter. Rafferty Asset Management LLC now owns 11,000 shares of the company’s stock valued at $498,000 after purchasing an additional 273 shares during the last quarter. Crossmark Global Holdings Inc. lifted its stake in shares of Maplebear by 5.0% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 6,423 shares of the company’s stock valued at $236,000 after purchasing an additional 304 shares during the last quarter. Finally, Aviva PLC boosted its holdings in Maplebear by 3.9% in the fourth quarter. Aviva PLC now owns 11,279 shares of the company’s stock worth $507,000 after purchasing an additional 424 shares in the last quarter. Institutional investors and hedge funds own 63.09% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on CART. Citizens Jmp restated a “market outperform” rating and set a $60.00 target price on shares of Maplebear in a report on Monday, June 15th. Raymond James Financial upgraded Maplebear from a “hold” rating to a “moderate buy” rating in a research note on Thursday, April 9th. Wells Fargo & Company raised their price objective on Maplebear from $45.00 to $47.00 and gave the company an “equal weight” rating in a research note on Thursday, May 7th. Jefferies Financial Group upgraded Maplebear from a “hold” rating to a “buy” rating and boosted their target price for the stock from $38.00 to $45.00 in a report on Monday, March 30th. Finally, Wall Street Zen upgraded Maplebear from a “hold” rating to a “buy” rating in a report on Saturday, July 18th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $51.48.

Maplebear Price Performance

CART stock opened at $42.21 on Monday. The stock has a market capitalization of $9.92 billion, a price-to-earnings ratio of 23.58, a price-to-earnings-growth ratio of 0.58 and a beta of 0.75. The company has a 50-day moving average of $43.98 and a two-hundred day moving average of $40.61. Maplebear Inc. has a 52-week low of $32.73 and a 52-week high of $53.50.

Maplebear (NASDAQ:CART) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $0.57 EPS 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 business had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.01 billion. During the same quarter in the previous year, the firm posted $0.37 earnings per share. The company’s revenue for the quarter was up 13.6% on a year-over-year basis. Equities analysts expect that Maplebear Inc. will post 2.46 EPS for the current fiscal year.

Insider Transactions at Maplebear

In other Maplebear news, Director Ravi Gupta sold 181,000 shares of Maplebear stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $41.51, for a total value of $7,513,310.00. Following the transaction, the director directly owned 741,523 shares of the company’s stock, valued at $30,780,619.73. The trade was a 19.62% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 24.00% of the stock is owned by company insiders.

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.