HS Management Partners LLC Purchases New Holdings in Maplebear Inc. $CART

HS Management Partners LLC acquired a new position in shares of Maplebear Inc. (NASDAQ:CART) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor acquired 171,434 shares of the company’s stock, valued at approximately $8,117,000. Maplebear accounts for approximately 2.8% of HS Management Partners LLC’s holdings, making the stock its 20th biggest holding.

Several other hedge funds and other institutional investors have also modified their holdings of CART. US Bancorp DE boosted its position in Maplebear by 17.0% during the 4th quarter. US Bancorp DE now owns 437,658 shares of the company’s stock worth $19,686,000 after acquiring an additional 63,666 shares during the period. Ruffer LLP acquired a new position in shares of Maplebear in the 4th quarter valued at about $2,567,000. Bank of America Corp DE lifted its position in shares of Maplebear by 16.5% in the first quarter. Bank of America Corp DE now owns 1,562,097 shares of the company’s stock worth $58,516,000 after purchasing an additional 221,036 shares in the last quarter. CWM LLC lifted its position in shares of Maplebear by 1,741.4% in the fourth quarter. CWM LLC now owns 30,088 shares of the company’s stock worth $1,353,000 after purchasing an additional 28,454 shares in the last quarter. Finally, Horizon Investments LLC boosted its holdings in shares of Maplebear by 263,556.8% during the fourth quarter. Horizon Investments LLC now owns 116,009 shares of the company’s stock worth $5,218,000 after purchasing an additional 115,965 shares during the period. Institutional investors and hedge funds own 63.09% of the company’s stock.

Insider Activity

In other news, 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 transaction, the director owned 741,523 shares of the company’s stock, valued at approximately $30,780,619.73. This represents a 19.62% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 24.00% of the company’s stock.

Maplebear Trading Up 0.1%

CART stock opened at $48.93 on Wednesday. The firm has a market cap of $11.33 billion, a PE ratio of 26.74, a PEG ratio of 0.72 and a beta of 0.78. Maplebear Inc. has a 1 year low of $32.73 and a 1 year high of $51.06. The company has a fifty day simple moving average of $46.07 and a 200 day simple moving average of $41.41.

Maplebear (NASDAQ:CART) last posted its earnings results on Thursday, August 6th. The company reported $0.45 EPS for the quarter, missing the consensus estimate of $0.54 by ($0.09). Maplebear had a return on equity of 20.19% and a net margin of 11.97%.The business had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same period in the previous year, the company earned $0.41 earnings per share. The company’s quarterly revenue was up 14.1% compared to the same quarter last year. As a group, analysts forecast that Maplebear Inc. will post 2.33 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have weighed in on CART. Wall Street Zen lowered shares of Maplebear from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Citizens Jmp restated a “market outperform” rating and set a $60.00 price target on shares of Maplebear in a report on Monday, June 15th. Barclays boosted their target price on Maplebear from $69.00 to $77.00 and gave the company an “overweight” rating in a research note on Friday, August 7th. Guggenheim upped their target price on Maplebear from $44.00 to $46.00 and gave the stock a “neutral” rating in a research report on Friday, August 7th. Finally, Oppenheimer raised their price target on Maplebear from $60.00 to $65.00 and gave the stock an “outperform” rating in a research note on Friday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat.com, Maplebear presently has an average rating of “Moderate Buy” and an average price target of $55.90.

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.