Strategic Global Advisors LLC Makes New Investment in Maplebear Inc. $CART

Strategic Global Advisors LLC purchased a new position in Maplebear Inc. (NASDAQ:CART) in the second quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 115,809 shares of the company’s stock, valued at approximately $5,484,000.

Several other institutional investors and hedge funds have also made changes to their positions in CART. Freestone Grove Partners LP acquired a new position in shares of Maplebear during the second quarter valued at approximately $116,000. Man Group plc bought a new stake in Maplebear during the second quarter worth approximately $4,568,000. Lotus Technology Management LP bought a new stake in Maplebear during the second quarter worth approximately $439,000. Miller Value Partners LLC acquired a new stake in Maplebear in the second quarter worth approximately $2,161,000. Finally, Jupiter Topco LLC acquired a new stake in Maplebear in the second quarter worth approximately $3,446,000. 63.09% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director Ravi Gupta sold 150,000 shares of the company’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 completion of the sale, the director directly owned 591,523 shares of the company’s stock, valued at $29,936,979.03. This 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 at the SEC website. Also, insider Morgan Fong sold 18,390 shares of the company’s stock in a transaction on Monday, August 24th. The shares were sold at an average price of $49.96, for a total value of $918,764.40. Following the sale, the insider directly owned 529,911 shares of the company’s stock, valued at approximately $26,474,353.56. This represents a 3.35% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 349,390 shares of company stock worth $16,023,574 over the last ninety days. 24.00% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of brokerages have issued reports on CART. Needham & Company LLC increased their price target on Maplebear from $55.00 to $63.00 and gave the company a “buy” rating in a research note on Friday, August 7th. Citigroup upped their price objective on Maplebear from $50.00 to $58.00 and gave the company a “buy” rating in a report on Monday, August 10th. Oppenheimer raised their target price on Maplebear from $60.00 to $65.00 and gave the company an “outperform” rating in a research note on Friday, August 7th. Guggenheim lifted their target price on Maplebear from $44.00 to $46.00 and gave the stock a “neutral” rating in a report on Friday, August 7th. Finally, Wall Street Zen cut shares of Maplebear from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat, Maplebear has an average rating of “Moderate Buy” and an average target price of $55.90.

Maplebear Stock Performance

NASDAQ CART opened at $50.77 on Thursday. Maplebear Inc. has a 1 year low of $32.73 and a 1 year high of $52.05. The business’s fifty day moving average is $47.11 and its two-hundred day moving average is $42.02. The stock has a market capitalization of $11.75 billion, a P/E ratio of 27.74, a P/E/G ratio of 0.76 and a beta of 0.78.

Maplebear (NASDAQ:CART) last released its quarterly earnings data on Thursday, August 6th. The company reported $0.45 earnings per share for the quarter, missing the consensus estimate of $0.54 by ($0.09). The company had revenue of $1.04 billion for 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 business’s revenue was up 14.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.41 earnings per share. On average, research analysts forecast that Maplebear Inc. will post 2.33 earnings per share for the current year.

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.