Maplebear Inc. $CART Stock Position Lifted by Goodnow Investment Group LLC

Goodnow Investment Group LLC raised its holdings in Maplebear Inc. (NASDAQ:CART) by 10.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,377,881 shares of the company’s stock after purchasing an additional 131,723 shares during the quarter. Maplebear accounts for 5.8% of Goodnow Investment Group LLC’s investment portfolio, making the stock its 5th largest position. Goodnow Investment Group LLC owned approximately 0.52% of Maplebear worth $61,977,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. JPMorgan Chase & Co. grew its holdings in Maplebear by 27.8% during 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. raised its stake in shares of Maplebear by 40.6% in the third quarter. Kingdon Capital Management L.L.C. now owns 450,000 shares of the company’s stock valued at $16,542,000 after buying an additional 130,000 shares during the period. US Bancorp DE lifted its position in shares of Maplebear by 17.0% during the 4th quarter. US Bancorp DE now owns 437,658 shares of the company’s stock valued at $19,686,000 after buying an additional 63,666 shares during the last quarter. Ruffer LLP purchased a new position in shares of Maplebear during the 4th quarter valued at $2,567,000. Finally, Counterpoint Mutual Funds LLC bought a new position in shares of Maplebear during the 3rd quarter worth $2,239,000. 63.09% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on CART shares. Argus upgraded Maplebear to a “strong-buy” rating in a research note on Thursday, March 5th. Weiss Ratings upgraded shares of Maplebear from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, May 11th. Needham & Company LLC reissued a “buy” rating and issued a $55.00 price target on shares of Maplebear in a research report on Thursday, May 7th. Raymond James Financial upgraded shares of Maplebear from a “hold” rating to a “moderate buy” rating in a research note on Thursday, April 9th. Finally, Wells Fargo & Company lifted their price objective on shares of Maplebear from $45.00 to $47.00 and gave the company an “equal weight” rating in a research note on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $51.09.

Maplebear Stock Up 2.3%

CART stock opened at $42.18 on Tuesday. The stock has a 50-day simple moving average of $41.05 and a two-hundred day simple moving average of $40.27. Maplebear Inc. has a twelve month low of $32.73 and a twelve month high of $53.50. The firm has a market capitalization of $9.91 billion, a PE ratio of 23.56, a PEG ratio of 0.57 and a beta of 0.88.

Maplebear (NASDAQ:CART) last released 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). The firm had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.01 billion. Maplebear had a net margin of 12.50% and a return on equity of 18.67%. Maplebear’s revenue was up 13.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.37 earnings per share. On average, equities research analysts anticipate that Maplebear Inc. will post 2.45 EPS for the current fiscal year.

Insider Buying and Selling at Maplebear

In other news, Director Ravi Gupta sold 181,000 shares of the company’s stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $41.51, for a total value 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Lisa Blackwood-Kapral sold 9,390 shares of the stock in a transaction on Wednesday, April 15th. The stock was sold at an average price of $40.25, for a total value of $377,947.50. Following the completion of the sale, the chief accounting officer owned 58,971 shares in the company, valued at $2,373,582.75. This trade represents a 13.74% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 24.00% of the stock is owned by company insiders.

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.