Maplebear Inc. $CART Shares Purchased by Hsbc Holdings PLC

Hsbc Holdings PLC lifted its stake in Maplebear Inc. (NASDAQ:CART) by 518.8% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 120,260 shares of the company’s stock after acquiring an additional 100,827 shares during the period. Hsbc Holdings PLC’s holdings in Maplebear were worth $5,751,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of CART. Pinnacle Bancorp Inc. purchased a new stake in Maplebear during the 1st quarter worth approximately $25,000. PenderFund Capital Management Ltd. purchased a new position in shares of Maplebear in the fourth quarter worth $27,000. Allworth Financial LP raised its holdings in shares of Maplebear by 35.7% in the third quarter. Allworth Financial LP now owns 928 shares of the company’s stock worth $34,000 after buying an additional 244 shares during the last quarter. IFP Advisors Inc lifted its stake 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 buying an additional 845 shares during the period. Finally, Sunbelt Securities Inc. grew its holdings in shares of Maplebear by 212.7% during the third quarter. Sunbelt Securities Inc. now owns 1,157 shares of the company’s stock valued at $43,000 after buying an additional 787 shares during the last quarter. 63.09% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CART has been the topic of several research reports. Barclays upped their target price on Maplebear from $69.00 to $77.00 and gave the company an “overweight” rating in a research report on Friday, August 7th. Benchmark boosted their price target on Maplebear from $55.00 to $63.00 and gave the company a “buy” rating in a research note on Friday, August 7th. Needham & Company LLC increased their price objective on Maplebear from $55.00 to $63.00 and gave the company a “buy” rating in a report on Friday, August 7th. JPMorgan Chase & Co. raised their price objective on Maplebear from $55.00 to $62.00 and gave the stock an “overweight” rating in a research note on Friday, August 7th. Finally, Rosenblatt Securities assumed coverage on Maplebear in a report on Tuesday, September 1st. They set a “neutral” rating and a $55.00 target price for the company. Fifteen 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 has a consensus rating of “Moderate Buy” and an average price target of $56.14.

Maplebear Stock Performance

Shares of CART opened at $46.64 on Thursday. The business’s 50-day moving average is $47.95 and its two-hundred day moving average is $43.08. The company has a market capitalization of $10.80 billion, a P/E ratio of 25.49, a P/E/G ratio of 0.94 and a beta of 0.80. Maplebear Inc. has a fifty-two week low of $32.73 and a fifty-two week high of $52.68.

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

Insider Activity at Maplebear

In other news, Director Ravi Gupta sold 150,000 shares of the firm’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 transaction of $7,591,500.00. Following the sale, the director owned 591,523 shares of the company’s stock, valued at $29,936,979.03. This trade represents a 20.23% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Morgan Fong sold 18,390 shares of Maplebear stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $49.96, for a total transaction of $918,764.40. Following the transaction, the insider directly owned 529,911 shares of the company’s stock, valued at approximately $26,474,353.56. This trade represents a 3.35% 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. 24.00% of the stock is currently owned by company insiders.

Maplebear Profile

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.