Quantinno Capital Management LP Buys 41,213 Shares of Maplebear Inc. $CART

Quantinno Capital Management LP increased its stake in Maplebear Inc. (NASDAQ:CART) by 27.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 190,090 shares of the company’s stock after buying an additional 41,213 shares during the quarter. Quantinno Capital Management LP owned approximately 0.08% of Maplebear worth $7,121,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in CART. Royal Bank of Canada raised its position in Maplebear by 51.2% during the first quarter. Royal Bank of Canada now owns 131,789 shares of the company’s stock worth $5,256,000 after acquiring an additional 44,642 shares in the last quarter. NewEdge Advisors LLC grew its position in shares of Maplebear by 71.6% in the 1st quarter. NewEdge Advisors LLC now owns 1,673 shares of the company’s stock valued at $67,000 after acquiring an additional 698 shares during the period. Jones Financial Companies Lllp grew its position in shares of Maplebear by 358.5% in the 1st quarter. Jones Financial Companies Lllp now owns 3,200 shares of the company’s stock valued at $128,000 after acquiring an additional 2,502 shares during the period. Goldman Sachs Group Inc. increased its stake in shares of Maplebear by 17.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 390,711 shares of the company’s stock worth $15,585,000 after purchasing an additional 57,879 shares during the last quarter. Finally, Empowered Funds LLC acquired a new position in shares of Maplebear during the 1st quarter worth about $268,000. 63.09% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on CART shares. Citizens Jmp reiterated a “market outperform” rating and issued a $60.00 target price on shares of Maplebear in a research note on Monday, June 15th. Barclays boosted their price target on Maplebear from $65.00 to $69.00 and gave the stock an “overweight” rating in a research report on Thursday, May 7th. Raymond James Financial upgraded Maplebear from a “hold” rating to a “moderate buy” rating in a research note on Thursday, April 9th. Guggenheim raised their price objective on Maplebear from $40.00 to $44.00 and gave the company a “neutral” rating in a research report on Wednesday, July 29th. Finally, Wells Fargo & Company lifted their target price on Maplebear from $45.00 to $47.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $51.67.

Maplebear Stock Performance

NASDAQ CART opened at $45.35 on Thursday. The firm has a 50-day moving average of $44.66 and a 200-day moving average of $40.78. The stock has a market cap of $10.66 billion, a PE ratio of 25.34, a P/E/G ratio of 0.62 and a beta of 0.78. Maplebear Inc. has a 52-week low of $32.73 and a 52-week high of $53.50.

Maplebear (NASDAQ:CART) last announced its quarterly earnings results on Wednesday, May 6th. The company reported $0.57 EPS for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.01). The company had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.01 billion. Maplebear had a net margin of 12.50% and a return on equity of 18.67%. The firm’s quarterly revenue was up 13.6% on a year-over-year basis. During the same quarter last year, the company posted $0.37 EPS. As a group, analysts predict that Maplebear Inc. will post 2.47 EPS for the current fiscal year.

Insider Transactions at Maplebear

In other news, 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 completion of the sale, the director owned 741,523 shares in the company, valued at $30,780,619.73. The trade was a 19.62% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 24.00% of the stock is owned by company 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.