Capital Impact Advisors LLC Grows Holdings in Maplebear Inc. $CART

Capital Impact Advisors LLC grew its stake in shares of Maplebear Inc. (NASDAQ:CART) by 601.0% during the fourth quarter, Holdings Channel reports. The institutional investor owned 1,359,107 shares of the company’s stock after acquiring an additional 1,165,221 shares during the period. Maplebear makes up about 4.8% of Capital Impact Advisors LLC’s holdings, making the stock its 3rd largest position. Capital Impact Advisors LLC’s holdings in Maplebear were worth $61,133,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CART. Viking Global Investors LP bought a new stake in shares of Maplebear during the 2nd quarter worth about $169,782,000. Marshall Wace LLP bought a new stake in shares of Maplebear during the 4th quarter worth about $126,206,000. Holocene Advisors LP bought a new stake in shares of Maplebear during the 3rd quarter worth about $90,167,000. Norges Bank bought a new stake in shares of Maplebear during the 4th quarter worth about $97,221,000. Finally, Dimensional Fund Advisors LP raised its position in shares of Maplebear by 114.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,792,673 shares of the company’s stock worth $170,594,000 after buying an additional 2,026,567 shares in the last quarter. 63.09% of the stock is currently owned by institutional investors.

Insider Activity at Maplebear

In other news, Director Ravi Gupta sold 181,000 shares of Maplebear stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $41.51, for a total value of $7,513,310.00. Following the transaction, the director directly owned 741,523 shares of the company’s stock, valued at $30,780,619.73. This trade represents a 19.62% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Lisa Blackwood-Kapral sold 9,390 shares of the business’s stock in a transaction that occurred on Wednesday, April 15th. The shares were sold at an average price of $40.25, for a total transaction of $377,947.50. Following the transaction, the chief accounting officer directly owned 58,971 shares in the company, valued at $2,373,582.75. The trade was 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. Company insiders own 24.00% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on the stock. Needham & Company LLC restated a “buy” rating and set a $55.00 price target on shares of Maplebear in a research report on Thursday, May 7th. Wall Street Zen downgraded shares of Maplebear from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Citizens Jmp reiterated a “market outperform” rating and issued a $60.00 target price on shares of Maplebear in a report on Monday. Jefferies Financial Group upgraded shares of Maplebear from a “hold” rating to a “buy” rating and boosted their target price for the stock from $38.00 to $45.00 in a report on Monday, March 30th. Finally, Argus upgraded shares of Maplebear to a “strong-buy” rating in a report on Thursday, March 5th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $51.09.

Maplebear Price Performance

Maplebear stock opened at $42.82 on Thursday. The firm’s 50 day simple moving average is $41.19 and its 200-day simple moving average is $40.28. The company has a market cap of $10.06 billion, a P/E ratio of 23.92, a price-to-earnings-growth ratio of 0.61 and a beta of 0.88. Maplebear Inc. has a fifty-two week low of $32.73 and a fifty-two week high of $53.50.

Maplebear (NASDAQ:CART) last released its 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). The firm had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1.01 billion. Maplebear had a return on equity of 18.67% and a net margin of 12.50%.The business’s revenue was up 13.6% on a year-over-year basis. During the same period last year, the business earned $0.37 earnings per share. On average, analysts expect that Maplebear Inc. will post 2.45 EPS for the current fiscal year.

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.