Fieldview Capital Management LLC Takes Position in Maplebear Inc. $CART

Fieldview Capital Management LLC acquired a new stake in Maplebear Inc. (NASDAQ:CART) in the 4th quarter, HoldingsChannel reports. The fund acquired 23,740 shares of the company’s stock, valued at approximately $1,068,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. JPMorgan Chase & Co. boosted its stake in shares of Maplebear by 27.8% in the third quarter. JPMorgan Chase & Co. now owns 1,328,968 shares of the company’s stock valued at $48,853,000 after purchasing an additional 288,839 shares during the period. Kingdon Capital Management L.L.C. lifted its stake in Maplebear by 40.6% in the third quarter. Kingdon Capital Management L.L.C. now owns 450,000 shares of the company’s stock worth $16,542,000 after acquiring an additional 130,000 shares during the last quarter. US Bancorp DE lifted its stake in Maplebear by 17.0% in the fourth 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 last quarter. Ruffer LLP purchased a new position in Maplebear in the fourth quarter worth approximately $2,567,000. Finally, Counterpoint Mutual Funds LLC purchased a new position in Maplebear in the third quarter worth approximately $2,239,000. Hedge funds and other institutional investors own 63.09% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on CART shares. Weiss Ratings upgraded shares of Maplebear from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, May 11th. Wells Fargo & Company lifted their price target on shares of Maplebear from $45.00 to $47.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 7th. Wall Street Zen downgraded shares of Maplebear from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Argus upgraded shares of Maplebear to a “strong-buy” rating in a research note on Thursday, March 5th. Finally, Raymond James Financial upgraded shares of Maplebear from a “hold” rating to a “moderate buy” rating in a research note on Thursday, April 9th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, Maplebear presently has an average rating of “Moderate Buy” and a consensus target price of $51.09.

Maplebear Stock Down 0.0%

Shares of Maplebear stock opened at $41.24 on Monday. The company has a market capitalization of $9.69 billion, a P/E ratio of 23.04, a P/E/G ratio of 0.57 and a beta of 0.88. Maplebear Inc. has a 52-week low of $32.73 and a 52-week high of $53.50. The company has a 50 day moving average of $40.98 and a 200 day moving average of $40.27.

Maplebear (NASDAQ:CART) last issued 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 company had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $1.01 billion. Maplebear had a return on equity of 18.67% and a net margin of 12.50%.The firm’s quarterly revenue was up 13.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.37 EPS. As a group, research analysts anticipate that Maplebear Inc. will post 2.45 earnings per share for the current fiscal year.

Insider Activity at Maplebear

In other news, CAO Lisa Blackwood-Kapral sold 9,390 shares of the business’s stock in a transaction that occurred on Wednesday, April 15th. The shares were sold at an average price of $40.25, for a total transaction of $377,947.50. Following the completion of the sale, the chief accounting officer owned 58,971 shares in the company, valued at approximately $2,373,582.75. The trade was a 13.74% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ravi Gupta sold 181,000 shares of the business’s stock in a transaction that occurred on 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 sale, the director owned 741,523 shares of the company’s stock, valued at $30,780,619.73. This represents a 19.62% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 24.00% of the stock is currently owned by 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.