Versor Investments LP Raises Holdings in Maplebear Inc. $CART

Versor Investments LP grew its position in shares of Maplebear Inc. (NASDAQ:CART) by 101.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 44,006 shares of the company’s stock after buying an additional 22,118 shares during the period. Versor Investments LP’s holdings in Maplebear were worth $1,979,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in CART. Royal Bank of Canada lifted its position in shares of Maplebear by 51.2% during the 1st quarter. Royal Bank of Canada now owns 131,789 shares of the company’s stock valued at $5,256,000 after buying an additional 44,642 shares during the last quarter. NewEdge Advisors LLC raised its stake in shares of Maplebear by 71.6% during the 1st quarter. NewEdge Advisors LLC now owns 1,673 shares of the company’s stock valued at $67,000 after purchasing an additional 698 shares during the period. Jones Financial Companies Lllp raised its stake in shares of Maplebear by 358.5% during the 1st quarter. Jones Financial Companies Lllp now owns 3,200 shares of the company’s stock valued at $128,000 after purchasing an additional 2,502 shares during the period. Goldman Sachs Group Inc. raised its stake in shares of Maplebear by 17.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 390,711 shares of the company’s stock valued at $15,585,000 after purchasing an additional 57,879 shares during the period. Finally, Empowered Funds LLC bought a new stake in shares of Maplebear during the 1st quarter valued at $268,000. Hedge funds and other institutional investors own 63.09% of the company’s stock.

Insider Activity

In other news, General Counsel Morgan Fong sold 126,083 shares of the stock in a transaction dated Wednesday, March 11th. The stock was sold at an average price of $37.09, for a total transaction of $4,676,418.47. Following the transaction, the general counsel directly owned 386,643 shares in the company, valued at approximately $14,340,588.87. This represents a 24.59% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Lisa Blackwood-Kapral sold 9,390 shares of the stock in a transaction dated Wednesday, April 15th. The shares were sold at an average price of $40.25, for a total value of $377,947.50. Following the transaction, the chief accounting officer owned 58,971 shares in the company, valued at $2,373,582.75. This trade represents a 13.74% 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. Insiders have sold a total of 144,863 shares of company stock worth $5,418,135 over the last quarter. Corporate insiders own 24.00% of the company’s stock.

Maplebear Stock Up 0.1%

Shares of NASDAQ CART opened at $40.41 on Tuesday. The firm has a market capitalization of $9.50 billion, a P/E ratio of 22.58, a P/E/G ratio of 0.56 and a beta of 0.96. The stock’s 50-day simple moving average is $39.37 and its two-hundred day simple moving average is $39.92. Maplebear Inc. has a twelve month low of $32.73 and a twelve month high of $53.50.

Maplebear (NASDAQ:CART) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $0.57 EPS 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 the consensus estimate of $1.01 billion. Maplebear had a net margin of 12.50% and a return on equity of 18.67%. Maplebear’s revenue for the quarter was up 13.6% compared to the same quarter last year. During the same quarter last year, the company posted $0.37 earnings per share. As a group, research analysts anticipate that Maplebear Inc. will post 2.42 EPS for the current fiscal year.

Analyst Ratings Changes

CART has been the topic of a number of analyst reports. Argus upgraded Maplebear to a “strong-buy” rating in a research note on Thursday, March 5th. Stifel Nicolaus decreased their price objective on Maplebear from $49.00 to $46.00 and set a “buy” rating on the stock in a research note on Tuesday, January 27th. Raymond James Financial upgraded Maplebear from a “hold” rating to a “moderate buy” rating in a research note on Thursday, April 9th. BNP Paribas Exane initiated coverage on Maplebear in a research note on Wednesday, January 14th. They set an “underperform” rating and a $41.00 price objective on the stock. Finally, Wells Fargo & Company boosted their price objective on Maplebear from $45.00 to $47.00 and gave the company an “equal weight” rating in a research note on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Maplebear has a consensus rating of “Moderate Buy” and a consensus target price of $51.39.

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.