78,458 Shares in Maplebear Inc. (NASDAQ:CART) Purchased by Portman Ltd

Portman Ltd bought a new stake in Maplebear Inc. (NASDAQ:CART) during the third quarter, HoldingsChannel.com reports. The fund bought 78,458 shares of the company’s stock, valued at approximately $3,196,000. Maplebear accounts for approximately 8.0% of Portman Ltd’s holdings, making the stock its 3rd largest holding.

Several other hedge funds also recently modified their holdings of CART. Huntington National Bank acquired a new stake in shares of Maplebear during the third quarter worth $54,000. nVerses Capital LLC lifted its position in Maplebear by 1,600.0% during the second quarter. nVerses Capital LLC now owns 1,700 shares of the company’s stock worth $55,000 after buying an additional 1,600 shares during the period. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Maplebear in the 3rd quarter worth about $74,000. Quarry LP grew its holdings in Maplebear by 269.5% in the 2nd quarter. Quarry LP now owns 3,928 shares of the company’s stock valued at $126,000 after buying an additional 2,865 shares during the period. Finally, Watts Gwilliam & Co. LLC acquired a new position in shares of Maplebear during the 3rd quarter valued at about $231,000. 63.09% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on CART shares. Stifel Nicolaus boosted their target price on shares of Maplebear from $52.00 to $55.00 and gave the company a “buy” rating in a report on Monday, October 28th. Morgan Stanley dropped their price objective on Maplebear from $45.00 to $41.00 and set an “equal weight” rating for the company in a report on Tuesday, September 24th. Robert W. Baird lifted their target price on Maplebear from $44.00 to $51.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Raymond James started coverage on Maplebear in a research note on Tuesday, September 24th. They set a “market perform” rating for the company. Finally, Wedbush lifted their price objective on Maplebear from $35.00 to $38.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. Twelve analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $47.29.

Insider Activity at Maplebear

In other Maplebear news, General Counsel Morgan Fong sold 8,345 shares of the company’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $40.00, for a total transaction of $333,800.00. Following the sale, the general counsel now owns 330,886 shares in the company, valued at $13,235,440. This represents a 2.46 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Fidji Simo sold 33,000 shares of Maplebear stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $35.27, for a total value of $1,163,910.00. Following the completion of the transaction, the chief executive officer now owns 1,844,778 shares of the company’s stock, valued at approximately $65,065,320.06. The trade was a 1.76 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 123,204 shares of company stock valued at $5,162,688 over the last ninety days. Corporate insiders own 36.00% of the company’s stock.

Maplebear Stock Performance

Shares of NASDAQ CART opened at $43.22 on Friday. Maplebear Inc. has a 1 year low of $22.13 and a 1 year high of $50.01. The stock’s 50-day simple moving average is $42.82 and its 200-day simple moving average is $36.83. The firm has a market cap of $11.10 billion, a price-to-earnings ratio of 29.01, a PEG ratio of 1.12 and a beta of 1.12.

Maplebear (NASDAQ:CART) last posted its quarterly earnings data on Tuesday, November 12th. The company reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.20. The company had revenue of $852.00 million for the quarter, compared to the consensus estimate of $844.03 million. Maplebear had a return on equity of 13.78% and a net margin of 13.37%. Maplebear’s revenue for the quarter was up 11.5% compared to the same quarter last year. During the same period in the previous year, the business earned ($20.86) EPS. As a group, research analysts predict that Maplebear Inc. will post 1.4 EPS for the current year.

About Maplebear

Maplebear Inc, doing business as Instacart, engages in the provision of online grocery shopping services to households in North America. It sells and delivers grocery products, as well as pickup services through a mobile application and website. It also operates virtual convenience stores; and provides software-as-a-service solutions to retailers.