Goodnow Investment Group LLC Takes Position in Maplebear Inc. $CART

Goodnow Investment Group LLC bought a new stake in Maplebear Inc. (NASDAQ:CART) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 1,476,191 shares of the company’s stock, valued at approximately $69,898,000. Maplebear accounts for 7.3% of Goodnow Investment Group LLC’s investment portfolio, making the stock its 2nd largest holding.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. BlackRock Inc. purchased a new stake in Maplebear during the 2nd quarter worth about $750,477,000. State Street Corp raised its position in Maplebear by 1.0% in the 4th quarter. State Street Corp now owns 5,461,637 shares of the company’s stock valued at $245,664,000 after purchasing an additional 54,872 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Maplebear by 31.4% during the first quarter. Dimensional Fund Advisors LP now owns 4,981,960 shares of the company’s stock worth $186,618,000 after buying an additional 1,189,287 shares in the last quarter. Viking Global Investors LP acquired a new position in shares of Maplebear during the second quarter worth about $169,782,000. Finally, Geode Capital Management LLC grew its position in shares of Maplebear by 1.6% during the fourth quarter. Geode Capital Management LLC now owns 3,526,124 shares of the company’s stock worth $158,640,000 after buying an additional 54,010 shares in the last quarter. 63.09% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Maplebear

In other Maplebear news, Director Ravi Gupta sold 181,000 shares of the stock in a transaction that occurred 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 directly owned 741,523 shares in the company, valued at $30,780,619.73. This represents a 19.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 24.00% of the stock is owned by company insiders.

Maplebear Stock Performance

NASDAQ:CART opened at $51.78 on Tuesday. Maplebear Inc. has a 1 year low of $32.73 and a 1 year high of $51.91. The stock has a market cap of $11.99 billion, a P/E ratio of 28.30, a P/E/G ratio of 0.73 and a beta of 0.78. The stock has a 50-day simple moving average of $46.81 and a 200-day simple moving average of $41.80.

Maplebear (NASDAQ:CART) last issued its earnings results 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 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 last year, the business posted $0.41 EPS. Maplebear’s revenue was up 14.1% on a year-over-year basis. On average, equities research analysts predict that Maplebear Inc. will post 2.33 EPS for the current year.

Analysts Set New Price Targets

Several analysts recently weighed in on CART shares. Wells Fargo & Company raised their target price on shares of Maplebear from $47.00 to $54.00 and gave the company an “equal weight” rating in a report on Friday, August 7th. Oppenheimer boosted their price target on shares of Maplebear from $60.00 to $65.00 and gave the stock an “outperform” rating in a report on Friday, August 7th. Guggenheim boosted their price target on shares of Maplebear from $44.00 to $46.00 and gave the stock a “neutral” rating in a report on Friday, August 7th. Benchmark increased their price objective on shares of Maplebear from $55.00 to $63.00 and gave the company a “buy” rating in a research report on Friday, August 7th. Finally, Barclays raised their price objective on shares of Maplebear from $69.00 to $77.00 and gave the company an “overweight” rating in a report on Friday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $55.90.

About Maplebear

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.