Jupiter Topco LLC Buys New Stake in Maplebear Inc. $CART

Jupiter Topco LLC purchased a new stake in Maplebear Inc. (NASDAQ:CART) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor purchased 72,789 shares of the company’s stock, valued at approximately $3,446,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Pinnacle Bancorp Inc. acquired a new position in shares of Maplebear in the 1st quarter valued at about $25,000. PenderFund Capital Management Ltd. purchased a new position in Maplebear during the fourth quarter valued at approximately $27,000. Allworth Financial LP raised its position in Maplebear by 35.7% during the third quarter. Allworth Financial LP now owns 928 shares of the company’s stock valued at $34,000 after acquiring an additional 244 shares in the last quarter. IFP Advisors Inc lifted its holdings in Maplebear by 761.3% in the fourth quarter. IFP Advisors Inc now owns 956 shares of the company’s stock valued at $43,000 after acquiring an additional 845 shares during the period. Finally, Sunbelt Securities Inc. lifted its holdings in Maplebear by 212.7% in the third quarter. Sunbelt Securities Inc. now owns 1,157 shares of the company’s stock valued at $43,000 after acquiring an additional 787 shares during the period. 63.09% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CART has been the topic of several recent research reports. Citigroup upped their price objective on Maplebear from $50.00 to $58.00 and gave the stock a “buy” rating in a research report on Monday, August 10th. Oppenheimer increased 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. JPMorgan Chase & Co. raised their price target on shares of Maplebear from $55.00 to $62.00 and gave the company an “overweight” rating in a research report on Friday, August 7th. Rosenblatt Securities started coverage on shares of Maplebear in a research report on Tuesday. They set a “neutral” rating and a $55.00 price target on the stock. Finally, Guggenheim lifted their price objective on shares of Maplebear from $44.00 to $46.00 and gave the company a “neutral” rating in a report on Friday, August 7th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and nine have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $55.86.

Insiders Place Their Bets

In related news, insider Morgan Fong sold 18,390 shares of the business’s stock in a transaction on Monday, August 24th. The shares were sold at an average price of $49.96, for a total value of $918,764.40. Following the completion of the sale, the insider owned 529,911 shares of the company’s stock, valued at approximately $26,474,353.56. The trade was a 3.35% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ravi Gupta sold 150,000 shares of the company’s stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $50.61, for a total transaction of $7,591,500.00. Following the transaction, the director owned 591,523 shares of the company’s stock, valued at $29,936,979.03. This represents a 20.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 24.00% of the stock is currently owned by company insiders.

Maplebear Trading Down 0.9%

Shares of CART stock opened at $50.05 on Wednesday. Maplebear Inc. has a 12-month low of $32.73 and a 12-month high of $52.05. The business’s 50 day moving average is $47.55 and its two-hundred day moving average is $42.48. The company has a market capitalization of $11.59 billion, a P/E ratio of 27.35, a P/E/G ratio of 0.98 and a beta of 0.78.

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

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.