Delta Global Management LP Grows Stake in Maplebear Inc. $CART

Delta Global Management LP increased its holdings in shares of Maplebear Inc. (NASDAQ:CART) by 13.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 192,085 shares of the company’s stock after purchasing an additional 23,476 shares during the quarter. Delta Global Management LP’s holdings in Maplebear were worth $8,640,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Allworth Financial LP grew its position in shares of Maplebear by 35.7% during the third quarter. Allworth Financial LP now owns 928 shares of the company’s stock worth $34,000 after purchasing an additional 244 shares in the last quarter. IFP Advisors Inc grew its position in shares of Maplebear by 761.3% during the fourth quarter. IFP Advisors Inc now owns 956 shares of the company’s stock worth $43,000 after purchasing an additional 845 shares in the last quarter. Sunbelt Securities Inc. grew its position in shares of Maplebear by 212.7% during the third quarter. Sunbelt Securities Inc. now owns 1,157 shares of the company’s stock worth $43,000 after purchasing an additional 787 shares in the last quarter. Abich Financial Wealth Management LLC purchased a new stake in shares of Maplebear during the third quarter worth about $43,000. Finally, Wilmington Savings Fund Society FSB grew its position in shares of Maplebear by 49.2% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 1,462 shares of the company’s stock worth $66,000 after purchasing an additional 482 shares in the last quarter. Hedge funds and other institutional investors own 63.09% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on CART shares. Raymond James Financial upgraded Maplebear from a “hold” rating to a “moderate buy” rating in a research report on Thursday, April 9th. Argus upgraded Maplebear to a “strong-buy” rating in a report on Thursday, March 5th. Wells Fargo & Company raised their price target on Maplebear from $45.00 to $47.00 and gave the company an “equal weight” rating in a report on Thursday, May 7th. Barclays raised their price target on Maplebear from $65.00 to $69.00 and gave the company an “overweight” rating in a report on Thursday, May 7th. Finally, Wall Street Zen cut Maplebear from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $51.09.

Maplebear Price Performance

NASDAQ CART opened at $42.18 on Tuesday. The stock has a market capitalization of $9.91 billion, a PE ratio of 23.56, a P/E/G ratio of 0.57 and a beta of 0.88. The business 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 1-year low of $32.73 and a 1-year high of $53.50.

Maplebear (NASDAQ:CART) last released its quarterly earnings results on Wednesday, May 6th. The company reported $0.57 earnings per share for the quarter, missing the consensus estimate of $0.58 by ($0.01). The firm had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $1.01 billion. Maplebear had a net margin of 12.50% and a return on equity of 18.67%. The business’s quarterly revenue was up 13.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.37 EPS. On average, analysts anticipate that Maplebear Inc. will post 2.45 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Ravi Gupta sold 181,000 shares of Maplebear stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $41.51, for a total value of $7,513,310.00. Following the completion of the transaction, the director owned 741,523 shares in the company, valued at approximately $30,780,619.73. The trade was a 19.62% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Lisa Blackwood-Kapral sold 9,390 shares of Maplebear stock in a transaction that occurred 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 transaction, the chief accounting officer owned 58,971 shares of the company’s stock, valued at approximately $2,373,582.75. This trade represents a 13.74% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 24.00% of the stock is currently owned by insiders.

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.