Caitlin John LLC Takes $644,000 Position in Maplebear Inc. $CART

Caitlin John LLC bought a new stake in shares of Maplebear Inc. (NASDAQ:CART) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 13,598 shares of the company’s stock, valued at approximately $644,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CART. Allworth Financial LP increased its position in Maplebear by 35.7% during the 3rd quarter. Allworth Financial LP now owns 928 shares of the company’s stock valued at $34,000 after purchasing an additional 244 shares during the period. Smartleaf Asset Management LLC lifted its position 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 worth $134,000 after purchasing an additional 261 shares during the period. Rafferty Asset Management LLC lifted its position in shares of Maplebear by 2.5% in the 2nd 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% during 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 boosted its stake in shares of Maplebear by 3.9% during 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 in the last quarter. Hedge funds and other institutional investors own 63.09% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Benchmark increased their price target on shares of Maplebear from $55.00 to $63.00 and gave the stock a “buy” rating in a research note on Friday, August 7th. JPMorgan Chase & Co. lifted their price objective on Maplebear from $55.00 to $62.00 and gave the company an “overweight” rating in a research report on Friday, August 7th. Wedbush assumed coverage on Maplebear in a report on Thursday, July 16th. They set an “outperform” rating and a $59.00 target price on the stock. Cantor Fitzgerald upped their target price on Maplebear from $56.00 to $63.00 and gave the stock an “overweight” rating in a report on Friday, August 7th. Finally, Guggenheim increased their price target on shares of Maplebear from $44.00 to $46.00 and gave the stock a “neutral” rating in a research note on Friday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat.com, Maplebear has an average rating of “Moderate Buy” and an average target price of $55.90.

Insider Activity

In related news, Director Ravi Gupta sold 181,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $41.51, for a total transaction of $7,513,310.00. Following the completion of the sale, the director directly owned 741,523 shares in the company, valued at approximately $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 SEC, which can be accessed through the SEC website. Also, insider Morgan Fong sold 18,390 shares of the business’s stock in a transaction that occurred 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 owned 529,911 shares of the company’s stock, valued at $26,474,353.56. This trade represents a 3.35% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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 over the last three months. Insiders own 24.00% of the company’s stock.

Maplebear Price Performance

CART stock opened at $50.48 on Friday. The stock has a market capitalization of $11.69 billion, a P/E ratio of 27.58, a P/E/G ratio of 0.75 and a beta of 0.78. The business has a fifty day moving average price of $47.23 and a 200-day moving average price of $42.13. Maplebear Inc. has a 1-year low of $32.73 and a 1-year high of $52.05.

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 analysts’ consensus estimates of $0.54 by ($0.09). The company had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $1.03 billion. Maplebear had a net margin of 11.97% and a return on equity of 20.19%. The business’s revenue was up 14.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.41 EPS. As a group, analysts anticipate that Maplebear Inc. will post 2.33 earnings per share for the current year.

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.