UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Lowers Position in Maplebear Inc. $CART

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC cut its position in shares of Maplebear Inc. (NASDAQ:CART) by 4.3% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 347,020 shares of the company’s stock after selling 15,531 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.15% of Maplebear worth $16,431,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Allworth Financial LP lifted 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 buying an additional 244 shares during the period. Smartleaf Asset Management LLC increased its stake in shares of Maplebear by 9.6% in the 2nd quarter. Smartleaf Asset Management LLC now owns 2,978 shares of the company’s stock worth $134,000 after acquiring an additional 261 shares in the last quarter. Rafferty Asset Management LLC increased its stake in shares of Maplebear by 2.5% in the 2nd quarter. Rafferty Asset Management LLC now owns 11,000 shares of the company’s stock worth $498,000 after acquiring an additional 273 shares in the last quarter. Crossmark Global Holdings Inc. lifted its position in Maplebear by 5.0% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 6,423 shares of the company’s stock valued at $236,000 after acquiring an additional 304 shares during the period. Finally, Aviva PLC boosted its stake in Maplebear by 3.9% during the fourth quarter. Aviva PLC now owns 11,279 shares of the company’s stock worth $507,000 after acquiring an additional 424 shares in the last quarter. Institutional investors own 63.09% of the company’s stock.

Maplebear Stock Performance

Shares of Maplebear stock opened at $51.07 on Friday. The company has a 50-day simple moving average of $47.82 and a two-hundred day simple moving average of $42.77. The stock has a market capitalization of $11.82 billion, a PE ratio of 27.91, a price-to-earnings-growth ratio of 1.00 and a beta of 0.80. Maplebear Inc. has a 52-week low of $32.73 and a 52-week high of $52.68.

Maplebear (NASDAQ:CART) last posted its quarterly earnings results on Thursday, August 6th. The company reported $0.45 EPS for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.09). The firm had revenue of $1.04 billion for 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 company’s quarterly revenue was up 14.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.41 EPS. As a group, equities research analysts forecast that Maplebear Inc. will post 2.33 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on CART. Wall Street Zen downgraded shares of Maplebear from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Guggenheim boosted their price target on Maplebear from $44.00 to $46.00 and gave the stock a “neutral” rating in a research report on Friday, August 7th. Argus upped their price target on Maplebear from $50.00 to $58.00 and gave the stock a “buy” rating in a research note on Wednesday. Wells Fargo & Company raised their price objective on Maplebear from $47.00 to $54.00 and gave the company an “equal weight” rating in a research report on Friday, August 7th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Maplebear in a research note on Friday, August 7th. Fifteen equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $56.14.

Insider Buying and Selling at Maplebear

In other news, insider Morgan Fong sold 18,390 shares of the business’s stock in a transaction on Monday, August 24th. The stock was sold at an average price of $49.96, for a total value of $918,764.40. Following the completion of the transaction, the insider owned 529,911 shares in the company, valued at $26,474,353.56. The trade was a 3.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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 shares were sold at an average price of $50.61, for a total value of $7,591,500.00. Following the transaction, 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 24.00% of the company’s stock.

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.