Maplebear Inc. $CART Stock: Loftus Peak Pty Ltd Grows Stake

Loftus Peak Pty Ltd boosted its holdings in Maplebear Inc. (NASDAQ:CART) by 7.7% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 390,084 shares of the company’s stock after acquiring an additional 27,817 shares during the quarter. Maplebear accounts for approximately 1.9% of Loftus Peak Pty Ltd’s investment portfolio, making the stock its 18th biggest holding. Loftus Peak Pty Ltd’s holdings in Maplebear were worth $16,820,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. BlackRock Inc. bought a new stake in shares of Maplebear in the 2nd quarter worth $750,477,000. Dimensional Fund Advisors LP lifted 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 valued at $186,618,000 after purchasing an additional 1,189,287 shares in the last quarter. William Blair Investment Management LLC bought a new position in shares of Maplebear during the second quarter valued at about $86,462,000. Deutsche Bank AG purchased a new position in Maplebear during the second quarter worth about $73,801,000. Finally, Goodnow Investment Group LLC purchased a new position in Maplebear during the second quarter worth about $69,898,000. 63.09% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of Maplebear in a research report on Friday, August 7th. Argus increased their price target on Maplebear from $50.00 to $58.00 and gave the company a “buy” rating in a research report on Wednesday, September 2nd. Benchmark increased their price target on Maplebear from $55.00 to $63.00 and gave the company a “buy” rating in a research report on Friday, August 7th. Wedbush started coverage on Maplebear in a report on Thursday, July 16th. They set an “outperform” rating and a $59.00 price target on the stock. Finally, Wells Fargo & Company boosted their price objective on Maplebear from $54.00 to $56.00 and gave the stock an “equal weight” rating in a research report on Monday, October 5th. Fourteen analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $58.24.

Insider Transactions at Maplebear

In other news, Director Ravi Gupta sold 150,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $50.61, for a total value of $7,591,500.00. Following the completion of the sale, the director directly owned 591,523 shares in the company, valued at approximately $29,936,979.03. The trade was a 20.23% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Lisa Blackwood-Kapral sold 3,017 shares of the business’s stock in a transaction on Tuesday, September 15th. The stock was sold at an average price of $47.08, for a total transaction of $142,040.36. Following the completion of the sale, the chief accounting officer directly owned 37,715 shares of the company’s stock, valued at $1,775,622.20. This represents a 7.41% decrease in their ownership of the stock. 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. Insiders have sold 189,797 shares of company stock valued at $9,479,487 in the last quarter. Insiders own 24.00% of the company’s stock.

Maplebear Stock Performance

NASDAQ CART opened at $49.40 on Thursday. The company has a 50-day simple moving average of $47.85 and a 200 day simple moving average of $44.57. Maplebear Inc. has a 52-week low of $32.73 and a 52-week high of $52.68. The company has a market capitalization of $11.44 billion, a PE ratio of 26.99, a price-to-earnings-growth ratio of 0.96 and a beta of 0.87.

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

Maplebear Company Profile

Maplebear Inc, doing business as Instacart, operates an online grocery technology and delivery marketplace. Its platform connects consumers with retailers and independent personal shoppers, allowing customers to order groceries and other household products for delivery or pickup through Instacart’s website and mobile applications.

Instacart offers retailers digital storefronts, order fulfillment tools, customer engagement capabilities and other technology designed to support online grocery operations.