Delta Global Management LP Has $6.20 Million Stock Holdings in Maplebear Inc. $CART

Delta Global Management LP decreased its position in Maplebear Inc. (NASDAQ:CART) by 76.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 168,609 shares of the company’s stock after selling 539,317 shares during the period. Delta Global Management LP owned 0.06% of Maplebear worth $6,198,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Hantz Financial Services Inc. boosted its stake in shares of Maplebear by 78.6% in the 3rd quarter. Hantz Financial Services Inc. now owns 884 shares of the company’s stock valued at $32,000 after purchasing an additional 389 shares during the last quarter. Abich Financial Wealth Management LLC acquired a new position in Maplebear in the third quarter valued at approximately $43,000. Elevation Point Wealth Partners LLC acquired a new position in Maplebear in the second quarter valued at approximately $53,000. CWM LLC boosted its stake in Maplebear by 42.2% in the third quarter. CWM LLC now owns 1,634 shares of the company’s stock valued at $60,000 after acquiring an additional 485 shares during the last quarter. Finally, NewEdge Advisors LLC grew its holdings in Maplebear by 71.6% during the 1st quarter. NewEdge Advisors LLC now owns 1,673 shares of the company’s stock worth $67,000 after acquiring an additional 698 shares during the period. 63.09% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Maplebear

In other Maplebear 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 value of $4,676,418.47. Following the completion of the sale, the general counsel directly owned 386,643 shares in the company, valued at $14,340,588.87. This represents a 24.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 26.00% of the company’s stock.

Maplebear Stock Up 1.4%

CART opened at $38.23 on Monday. Maplebear Inc. has a 12 month low of $32.73 and a 12 month high of $53.50. The company has a fifty day simple moving average of $38.00 and a 200 day simple moving average of $40.45. The stock has a market cap of $9.20 billion, a P/E ratio of 24.04, a P/E/G ratio of 0.58 and a beta of 0.98.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Benchmark cut their price target on Maplebear from $60.00 to $53.00 and set a “buy” rating on the stock in a research note on Tuesday, February 10th. Wells Fargo & Company decreased their price objective on Maplebear from $47.00 to $43.00 and set an “equal weight” rating for the company in a research note on Friday, February 13th. Argus upgraded Maplebear to a “strong-buy” rating in a report on Thursday, March 5th. BNP Paribas Exane started coverage on Maplebear in a research note on Wednesday, January 14th. They issued an “underperform” rating and a $41.00 target price on the stock. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Maplebear in a research report on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, eleven have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $51.04.

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.