Epoch Investment Partners Inc. Sells 65,827 Shares of Maplebear Inc. $CART

Epoch Investment Partners Inc. decreased its position in shares of Maplebear Inc. (NASDAQ:CART) by 8.1% during the first quarter, according to its most recent filing with the SEC. The firm owned 746,131 shares of the company’s stock after selling 65,827 shares during the period. Epoch Investment Partners Inc.’s holdings in Maplebear were worth $27,950,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Pinnacle Bancorp Inc. bought a new stake in shares of Maplebear during the first quarter valued at approximately $25,000. PenderFund Capital Management Ltd. purchased a new stake in Maplebear in the fourth quarter worth $27,000. Allworth Financial LP raised its holdings in Maplebear by 35.7% in 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 lifted its position in Maplebear by 761.3% during the fourth quarter. IFP Advisors Inc now owns 956 shares of the company’s stock valued at $43,000 after buying an additional 845 shares during the period. Finally, Sunbelt Securities Inc. lifted its position in 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 period. Hedge funds and other institutional investors own 63.09% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on CART. Raymond James Financial upgraded shares of Maplebear from a “hold” rating to a “moderate buy” rating in a report on Thursday, April 9th. Wall Street Zen raised shares of Maplebear from a “hold” rating to a “buy” rating in a research report on Saturday, July 18th. Wells Fargo & Company boosted their price objective on shares of Maplebear from $45.00 to $47.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 7th. Weiss Ratings raised shares of Maplebear from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, May 11th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $55.00 target price on shares of Maplebear in a research note on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $51.48.

Insider Transactions at Maplebear

In related news, Director Ravi Gupta sold 181,000 shares of the stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $41.51, for a total transaction of $7,513,310.00. Following the sale, the director directly owned 741,523 shares of the company’s stock, valued at approximately $30,780,619.73. This represents a 19.62% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 24.00% of the stock is currently owned by insiders.

Maplebear Trading Down 0.8%

Maplebear stock opened at $42.21 on Friday. The business’s fifty day simple moving average is $43.98 and its two-hundred day simple moving average is $40.64. Maplebear Inc. has a 12 month low of $32.73 and a 12 month high of $53.50. The company has a market capitalization of $9.92 billion, a price-to-earnings ratio of 23.58, a price-to-earnings-growth ratio of 0.58 and a beta of 0.75.

Maplebear (NASDAQ:CART) last issued 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). Maplebear had a net margin of 12.50% and a return on equity of 18.67%. The company had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.01 billion. During the same quarter in the previous year, the business earned $0.37 earnings per share. Maplebear’s revenue was up 13.6% compared to the same quarter last year. On average, equities research analysts predict that Maplebear Inc. will post 2.46 EPS for the current year.

Maplebear Company 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.