Corient Private Wealth LP Makes New $1.23 Million Investment in Maplebear Inc. $CART

Corient Private Wealth LP bought a new position in shares of Maplebear Inc. (NASDAQ:CART) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor bought 25,918 shares of the company’s stock, valued at approximately $1,227,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Pinnacle Bancorp Inc. acquired a new position in Maplebear in the 1st quarter worth approximately $25,000. PenderFund Capital Management Ltd. acquired a new stake in Maplebear during the 4th quarter valued at $27,000. Allworth Financial LP lifted 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 in the last quarter. IFP Advisors Inc boosted its position in shares of Maplebear by 761.3% in the fourth quarter. IFP Advisors Inc now owns 956 shares of the company’s stock worth $43,000 after buying an additional 845 shares during the period. Finally, Sunbelt Securities Inc. boosted its position in shares of Maplebear by 212.7% in the third 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 period. Institutional investors and hedge funds own 63.09% of the company’s stock.

Insider Activity at Maplebear

In other Maplebear news, insider Morgan Fong sold 18,390 shares of the business’s stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $49.96, for a total transaction of $918,764.40. Following the completion of the transaction, the insider directly owned 529,911 shares in the company, valued at $26,474,353.56. The trade was a 3.35% decrease in their ownership of the stock. The sale was disclosed in a document filed 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, Director Ravi Gupta sold 150,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $50.61, for a total transaction of $7,591,500.00. Following the transaction, the director owned 591,523 shares of the company’s stock, valued at approximately $29,936,979.03. This represents a 20.23% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 24.00% of the stock is currently owned by corporate insiders.

Maplebear Trading Down 1.3%

Shares of CART opened at $51.07 on Friday. The stock has a market cap of $11.82 billion, a P/E ratio of 27.91, a price-to-earnings-growth ratio of 1.01 and a beta of 0.80. Maplebear Inc. has a 1 year low of $32.73 and a 1 year high of $52.68. The stock’s 50-day moving average price is $47.82 and its two-hundred day moving average price is $42.77.

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

Analyst Upgrades and Downgrades

CART has been the topic of a number of research reports. Benchmark upped their target price on Maplebear from $55.00 to $63.00 and gave the company a “buy” rating in a report on Friday, August 7th. Weiss Ratings reissued a “hold (c)” rating on shares of Maplebear in a research note on Friday, August 7th. Wall Street Zen lowered Maplebear from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. Citizens Jmp reissued a “market outperform” rating and issued a $60.00 price target on shares of Maplebear in a report on Monday, June 15th. Finally, Argus lifted their target price on shares of Maplebear from $50.00 to $58.00 and gave the company a “buy” rating in a research note on Wednesday. Fifteen investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat, Maplebear has an average rating of “Moderate Buy” and a consensus target price of $56.14.

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.