19,433 Shares in Maplebear Inc. $CART Acquired by Hsbc Holdings PLC

Hsbc Holdings PLC acquired a new stake in Maplebear Inc. (NASDAQ:CART) in the 1st quarter, HoldingsChannel.com reports. The fund acquired 19,433 shares of the company’s stock, valued at approximately $726,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Pinnacle Bancorp Inc. acquired a new position in shares of Maplebear during the first quarter worth $25,000. PenderFund Capital Management Ltd. acquired a new position in Maplebear in the 4th quarter worth about $27,000. Allworth Financial LP increased its holdings in Maplebear by 35.7% in the 3rd 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 raised its position 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 purchasing an additional 845 shares during the last quarter. Finally, Sunbelt Securities Inc. boosted its stake 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 purchasing an additional 787 shares in the last quarter. Institutional investors and hedge funds own 63.09% of the company’s stock.

Maplebear Trading Down 2.0%

Shares of CART stock opened at $44.75 on Friday. Maplebear Inc. has a 1-year low of $32.73 and a 1-year high of $53.50. The stock has a market cap of $10.52 billion, a price-to-earnings ratio of 25.00, a PEG ratio of 0.62 and a beta of 0.75. The stock has a 50-day moving average of $44.31 and a 200-day moving average of $40.66.

Maplebear (NASDAQ:CART) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $0.57 EPS for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.01). Maplebear had a return on equity of 18.67% and a net margin of 12.50%.The company had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.01 billion. During the same period in the prior year, the firm earned $0.37 earnings per share. Maplebear’s revenue was up 13.6% compared to the same quarter last year. Sell-side analysts forecast that Maplebear Inc. will post 2.46 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on CART. Raymond James Financial raised Maplebear from a “hold” rating to a “moderate buy” rating in a research note on Thursday, April 9th. Needham & Company LLC reissued a “buy” rating and set a $55.00 target price on shares of Maplebear in a report on Thursday, May 7th. Barclays upped their price target on shares of Maplebear from $65.00 to $69.00 and gave the company an “overweight” rating in a research report on Thursday, May 7th. Citizens Jmp reaffirmed a “market outperform” rating and set a $60.00 price target on shares of Maplebear in a research note on Monday, June 15th. Finally, Guggenheim lifted their price target on shares of Maplebear from $40.00 to $44.00 and gave the stock a “neutral” rating in a report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $51.67.

Insider Buying and Selling at Maplebear

In related news, Director Ravi Gupta sold 181,000 shares of the business’s stock in a transaction on 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 transaction, the director owned 741,523 shares in the company, valued at $30,780,619.73. The trade was a 19.62% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 24.00% of the stock is owned by corporate insiders.

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.