120,260 Shares in Maplebear Inc. $CART Purchased by Hsbc Holdings PLC

Hsbc Holdings PLC purchased a new stake in shares of Maplebear Inc. (NASDAQ:CART) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 120,260 shares of the company’s stock, valued at approximately $5,751,000. Hsbc Holdings PLC owned approximately 0.05% of Maplebear at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. Canada Pension Plan Investment Board acquired a new stake in shares of Maplebear during the 2nd quarter worth approximately $2,609,000. Legal & General Group Plc acquired a new position in shares of Maplebear in the 2nd quarter valued at $10,482,000. The Manufacturers Life Insurance Company purchased a new stake in Maplebear during the second quarter worth $6,117,000. Goodnow Investment Group LLC purchased a new stake in Maplebear during the second quarter worth $69,898,000. Finally, Wolf Hill Capital Management LP purchased a new stake in Maplebear during the second quarter worth $31,091,431. 63.09% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Maplebear news, insider Morgan Fong sold 18,390 shares of the stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $49.96, for a total transaction of $918,764.40. Following the completion of the transaction, the insider owned 529,911 shares of the company’s stock, valued at $26,474,353.56. This represents a 3.35% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, 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 value of $7,591,500.00. Following the completion of the transaction, the director owned 591,523 shares in the company, valued at approximately $29,936,979.03. This trade represents a 20.23% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 349,390 shares of company stock worth $16,023,574. 24.00% of the stock is currently owned by insiders.

Maplebear Stock Up 0.1%

CART opened at $50.54 on Friday. The company has a market cap of $11.70 billion, a price-to-earnings ratio of 27.62, a PEG ratio of 0.74 and a beta of 0.78. Maplebear Inc. has a 52-week low of $32.73 and a 52-week high of $52.05. The firm’s fifty day simple moving average is $47.35 and its two-hundred day simple moving average is $42.19.

Maplebear (NASDAQ:CART) last announced its earnings results 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 quarter last year, the business earned $0.41 EPS. The firm’s revenue for the quarter was up 14.1% compared to the same quarter last year. On average, research analysts forecast that Maplebear Inc. will post 2.33 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms have weighed in on CART. JPMorgan Chase & Co. lifted their price objective on shares of Maplebear from $55.00 to $62.00 and gave the company an “overweight” rating in a report on Friday, August 7th. Oppenheimer increased their target price on shares of Maplebear from $60.00 to $65.00 and gave the stock an “outperform” rating in a research note on Friday, August 7th. Citizens Jmp restated a “market outperform” rating and set a $60.00 target price on shares of Maplebear in a research report on Monday, June 15th. BNP Paribas Exane upgraded Maplebear from an “underperform” rating to a “neutral” rating and set a $56.00 price target for the company in a research note on Friday, August 7th. Finally, Benchmark upped their price target on Maplebear from $55.00 to $63.00 and gave the stock a “buy” rating in a report on Friday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and eight have given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $55.90.

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.