University of Texas Texas AM Investment Management Co. Acquires New Stake in Maplebear Inc. $CART

University of Texas Texas AM Investment Management Co. acquired a new stake in Maplebear Inc. (NASDAQ:CART) in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 32,004 shares of the company’s stock, valued at approximately $1,380,000.

Several other large investors have also recently added to or reduced their stakes in the business. Brighton Jones LLC grew its stake in shares of Maplebear by 3.2% in the third quarter. Brighton Jones LLC now owns 8,286 shares of the company’s stock worth $357,000 after acquiring an additional 254 shares in the last quarter. Kestra Advisory Services LLC increased its position in shares of Maplebear by 57.7% during the third quarter. Kestra Advisory Services LLC now owns 13,027 shares of the company’s stock worth $562,000 after acquiring an additional 4,767 shares during the period. Chicago Partners Investment Group LLC acquired a new stake in shares of Maplebear in the third quarter valued at $223,000. Sumitomo Mitsui Trust Group Inc. acquired a new stake in shares of Maplebear in the third quarter valued at $601,000. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Maplebear in the third quarter valued at $87,000. 63.09% of the stock is owned by hedge funds and other institutional investors.

Maplebear Stock Performance

Shares of CART opened at $58.12 on Monday. The firm has a market capitalization of $13.75 billion, a price-to-earnings ratio of 30.27, a PEG ratio of 1.16 and a beta of 0.68. The firm’s fifty day simple moving average is $49.78 and its 200-day simple moving average is $43.76. Maplebear Inc. has a twelve month low of $32.73 and a twelve month high of $62.00.

Maplebear (NASDAQ:CART) last issued its earnings results on Thursday, October 29th. The company reported $0.60 EPS for the quarter, missing analysts’ consensus estimates of $0.63 by ($0.03). The firm had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.07 billion. Maplebear had a return on equity of 22.14% and a net margin of 11.59%. The business’s revenue for the quarter was up 16.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.42 EPS. On average, analysts predict that Maplebear Inc. will post 2.28 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts recently commented on CART shares. BNP Paribas Exane raised Maplebear from an “underperform” rating to a “neutral” rating and set a $56.00 target price for the company in a research note on Friday, August 7th. Oppenheimer increased their price target on Maplebear from $60.00 to $65.00 and gave the company an “outperform” rating in a research report on Friday, August 7th. Weiss Ratings raised Maplebear from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, October 15th. Raymond James Financial cut Maplebear from a “moderate buy” rating to a “hold” rating in a research note on Thursday, October 29th. Finally, Jefferies Financial Group downgraded Maplebear from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 30th. Seven equities research analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the stock. Based on data from MarketBeat, Maplebear has a consensus rating of “Hold” and an average price target of $59.06.

Insider Buying and Selling

In other Maplebear news, CAO Lisa Blackwood-Kapral sold 3,016 shares of Maplebear stock in a transaction dated Thursday, October 15th. The stock was sold at an average price of $49.58, for a total transaction of $149,533.28. Following the completion of the sale, the chief accounting officer directly owned 34,699 shares of the company’s stock, valued at $1,720,376.42. The trade was a 8.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Chris Rogers sold 24,665 shares of the company’s stock in a transaction dated Monday, October 26th. The stock was sold at an average price of $60.00, for a total value of $1,479,900.00. Following the transaction, the chief executive officer directly owned 867,911 shares of the company’s stock, valued at approximately $52,074,660. This represents a 2.76% 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. Insiders sold 309,928 shares of company stock valued at $16,121,073 over the last 90 days. 24.00% of the stock is currently owned by corporate insiders.

Maplebear Profile

Maplebear Inc, which operates as Instacart, provides an online grocery and retail marketplace in the United States and Canada. Its platform connects customers with local grocery stores and other retailers, enabling them to order products for delivery or pickup.

In addition to its consumer app and website, Instacart offers retailers technology and services for online ordering, fulfillment and digital advertising. The company was founded in 2012 and is led by CEO Fidji Simo.