GSA Capital Partners LLP Invests $672,000 in Maplebear Inc. $CART

GSA Capital Partners LLP bought a new stake in Maplebear Inc. (NASDAQ:CART) in the 2nd quarter, Holdings Channel reports. The institutional investor bought 14,195 shares of the company’s stock, valued at approximately $672,000.

A number of other large investors also recently made changes to their positions in CART. US Bancorp DE lifted its position in Maplebear by 17.0% during the fourth quarter. US Bancorp DE now owns 437,658 shares of the company’s stock worth $19,686,000 after buying an additional 63,666 shares during the period. Ruffer LLP purchased a new stake in Maplebear during the fourth quarter worth approximately $2,567,000. Bank of America Corp DE increased its holdings in Maplebear by 16.5% in the 1st quarter. Bank of America Corp DE now owns 1,562,097 shares of the company’s stock valued at $58,516,000 after purchasing an additional 221,036 shares in the last quarter. CWM LLC grew its stake in shares of Maplebear by 1,741.4% in the fourth quarter. CWM LLC now owns 30,088 shares of the company’s stock valued at $1,353,000 after buying an additional 28,454 shares in the last quarter. Finally, Horizon Investments LLC raised its stake in shares of Maplebear by 263,556.8% during the fourth quarter. Horizon Investments LLC now owns 116,009 shares of the company’s stock valued at $5,218,000 after purchasing an additional 115,965 shares during the period. Hedge funds and other institutional investors own 63.09% of the company’s stock.

Maplebear Trading Up 3.6%

NASDAQ CART opened at $50.67 on Thursday. Maplebear Inc. has a 1-year low of $32.73 and a 1-year high of $51.06. The firm’s fifty day simple moving average is $46.26 and its 200-day simple moving average is $41.51. The company has a market capitalization of $11.73 billion, a PE ratio of 27.69, a price-to-earnings-growth ratio of 0.72 and a beta of 0.78.

Maplebear (NASDAQ:CART) last announced its quarterly 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). The firm had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.03 billion. Maplebear had a net margin of 11.97% and a return on equity of 20.19%. The firm’s quarterly revenue was up 14.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.41 earnings per share. As a group, analysts predict that Maplebear Inc. will post 2.33 EPS for the current year.

Insider Buying and Selling at Maplebear

In other Maplebear news, Director Ravi Gupta sold 181,000 shares of the business’s stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $41.51, for a total value of $7,513,310.00. Following the completion of the sale, the director owned 741,523 shares of the company’s stock, valued at $30,780,619.73. The trade was a 19.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 24.00% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CART. Wall Street Zen lowered Maplebear from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. Citigroup raised their price target on shares of Maplebear from $50.00 to $58.00 and gave the stock a “buy” rating in a research report on Monday, August 10th. Guggenheim boosted their price objective on Maplebear from $44.00 to $46.00 and gave the company a “neutral” rating in a research report on Friday, August 7th. Needham & Company LLC upped their target price on shares of Maplebear from $55.00 to $63.00 and gave the stock a “buy” rating in a research report on Friday, August 7th. Finally, Wedbush began coverage on Maplebear in a report on Thursday, July 16th. They set an “outperform” rating and a $59.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $55.90.

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.