Machina Capital S.A.S. Takes Position in Maplebear Inc. $CART

Machina Capital S.A.S. purchased a new position in Maplebear Inc. (NASDAQ:CART) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 4,431 shares of the company’s stock, valued at approximately $200,000.

A number of other institutional investors have also recently made changes to their positions in CART. William Blair Investment Management LLC acquired a new stake in shares of Maplebear in the second quarter worth approximately $151,364,000. Victory Capital Management Inc. grew its holdings in shares of Maplebear by 62.8% during the first quarter. Victory Capital Management Inc. now owns 7,368,232 shares of the company’s stock worth $293,919,000 after buying an additional 2,841,559 shares in the last quarter. Champlain Investment Partners LLC purchased a new stake in shares of Maplebear during the first quarter worth $52,333,000. Westfield Capital Management Co. LP purchased a new stake in shares of Maplebear during the first quarter worth $48,639,000. Finally, Invesco Ltd. grew its holdings in shares of Maplebear by 82.5% during the first quarter. Invesco Ltd. now owns 2,575,624 shares of the company’s stock worth $102,742,000 after buying an additional 1,164,702 shares in the last quarter. 63.09% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Chris Rogers sold 9,259 shares of the company’s stock in a transaction on Monday, September 22nd. The stock was sold at an average price of $42.37, for a total value of $392,303.83. Following the transaction, the chief executive officer owned 739,880 shares of the company’s stock, valued at $31,348,715.60. This represents a 1.24% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, General Counsel Morgan Fong sold 3,546 shares of the company’s stock in a transaction on Monday, October 20th. The shares were sold at an average price of $38.85, for a total value of $137,762.10. Following the completion of the transaction, the general counsel directly owned 427,523 shares in the company, valued at approximately $16,609,268.55. This trade represents a 0.82% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 27,556 shares of company stock valued at $1,179,482 in the last quarter. Insiders own 26.00% of the company’s stock.

Maplebear Stock Down 2.6%

Shares of Maplebear stock opened at $36.47 on Wednesday. Maplebear Inc. has a 52 week low of $34.87 and a 52 week high of $53.50. The business’s fifty day simple moving average is $41.07 and its 200-day simple moving average is $44.12. The firm has a market cap of $9.61 billion, a PE ratio of 21.08, a price-to-earnings-growth ratio of 1.15 and a beta of 1.10.

Maplebear (NASDAQ:CART) last announced its quarterly earnings results on Thursday, August 7th. The company reported $0.41 EPS for the quarter, beating the consensus estimate of $0.39 by $0.02. Maplebear had a return on equity of 15.69% and a net margin of 13.76%.The business had revenue of $914.00 million for the quarter, compared to analyst estimates of $896.55 million. During the same quarter in the prior year, the company posted $0.20 EPS. The company’s quarterly revenue was up 11.1% on a year-over-year basis. As a group, equities analysts expect that Maplebear Inc. will post 1.43 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Jefferies Financial Group dropped their target price on shares of Maplebear from $55.00 to $43.00 and set a “hold” rating for the company in a report on Friday, October 17th. Barclays upped their target price on shares of Maplebear from $61.00 to $65.00 and gave the stock an “overweight” rating in a report on Friday, August 8th. Wedbush reissued an “underperform” rating and set a $42.00 price objective (down previously from $55.00) on shares of Maplebear in a research note on Thursday, August 21st. Stifel Nicolaus lowered their price objective on Maplebear from $56.00 to $49.00 and set a “buy” rating on the stock in a research note on Friday, October 24th. Finally, BTIG Research reissued a “neutral” rating and set a $55.00 price objective on shares of Maplebear in a research note on Tuesday, September 30th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $52.12.

Maplebear Company Profile

Maplebear Inc, doing business as Instacart, engages in the provision of online grocery shopping services to households in North America. It sells and delivers grocery products, as well as pickup services through a mobile application and website. It also operates virtual convenience stores; and provides software-as-a-service solutions to retailers.