Wolf Hill Capital Management LP Invests $31.09 Million in Maplebear Inc. $CART

Wolf Hill Capital Management LP purchased a new position in Maplebear Inc. (NASDAQ:CART) during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 656,630 shares of the company’s stock, valued at approximately $31,091,431. Maplebear accounts for approximately 0.0% of Wolf Hill Capital Management LP’s holdings, making the stock its 13th biggest position. Wolf Hill Capital Management LP owned about 0.28% of Maplebear at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Allworth Financial LP boosted its holdings in shares of Maplebear by 35.7% in the third quarter. Allworth Financial LP now owns 928 shares of the company’s stock valued at $34,000 after acquiring an additional 244 shares in the last quarter. Smartleaf Asset Management LLC increased its holdings in shares of Maplebear by 9.6% in the 2nd quarter. Smartleaf Asset Management LLC now owns 2,978 shares of the company’s stock valued at $134,000 after purchasing an additional 261 shares during the period. Rafferty Asset Management LLC increased its stake in shares of Maplebear by 2.5% in the second quarter. Rafferty Asset Management LLC now owns 11,000 shares of the company’s stock worth $498,000 after purchasing an additional 273 shares during the period. Crossmark Global Holdings Inc. boosted its stake in shares of Maplebear by 5.0% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 6,423 shares of the company’s stock valued at $236,000 after purchasing an additional 304 shares in the last quarter. Finally, Aviva PLC lifted its stake in shares of Maplebear by 3.9% in the 4th quarter. Aviva PLC now owns 11,279 shares of the company’s stock valued at $507,000 after purchasing an additional 424 shares during the period. 63.09% of the stock is owned by hedge funds and other institutional investors.

Maplebear Trading Up 0.3%

Shares of CART traded up $0.17 during midday trading on Friday, reaching $50.65. The stock had a trading volume of 1,156,880 shares, compared to its average volume of 4,511,133. The firm has a 50 day simple moving average of $47.23 and a 200-day simple moving average of $42.13. The firm has a market cap of $11.73 billion, a PE ratio of 27.68, a P/E/G ratio of 0.75 and a beta of 0.78. Maplebear Inc. has a one year low of $32.73 and a one year high of $52.05.

Maplebear (NASDAQ:CART) last posted its quarterly earnings results on Thursday, August 6th. The company reported $0.45 EPS for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.09). The company had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.03 billion. Maplebear had a return on equity of 20.19% and a net margin of 11.97%.The company’s revenue for the quarter was up 14.1% compared to the same quarter last year. During the same period last year, the firm posted $0.41 EPS. As a group, research analysts forecast that Maplebear Inc. will post 2.33 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. JPMorgan Chase & Co. upped their price target on shares of Maplebear from $55.00 to $62.00 and gave the company an “overweight” rating in a research report on Friday, August 7th. Barclays raised their price target on Maplebear from $69.00 to $77.00 and gave the company an “overweight” rating in a report on Friday, August 7th. Guggenheim raised their price objective on Maplebear from $44.00 to $46.00 and gave the stock a “neutral” rating in a research report on Friday, August 7th. Citigroup increased their price target on shares of Maplebear from $50.00 to $58.00 and gave the company a “buy” rating in a research note on Monday, August 10th. Finally, BNP Paribas Exane raised shares of Maplebear from an “underperform” rating to a “neutral” rating and set a $56.00 price target for the company 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 issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $55.90.

Insider Transactions at Maplebear

In related news, Director Ravi Gupta sold 150,000 shares of the firm’s stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $50.61, for a total transaction of $7,591,500.00. Following the transaction, the director directly owned 591,523 shares in the company, valued at $29,936,979.03. This trade represents a 20.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Morgan Fong sold 18,390 shares of Maplebear stock in a transaction on Monday, August 24th. The shares were sold at an average price of $49.96, for a total transaction of $918,764.40. Following the sale, the insider directly owned 529,911 shares of the company’s stock, valued at $26,474,353.56. This trade represents a 3.35% decrease in their position. 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. Insiders sold 349,390 shares of company stock worth $16,023,574 in the last 90 days. Company insiders own 24.00% of the company’s stock.

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.