Deltec Asset Management LLC Makes New Investment in Maplebear Inc. $CART

Deltec Asset Management LLC acquired a new position in shares of Maplebear Inc. (NASDAQ:CART) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 50,000 shares of the company’s stock, valued at approximately $1,838,000.

Other institutional investors have also added to or reduced their stakes in the company. Forum Financial Management LP grew its holdings in shares of Maplebear by 8.1% during the third quarter. Forum Financial Management LP now owns 6,431 shares of the company’s stock valued at $236,000 after buying an additional 480 shares during the last quarter. Oregon Public Employees Retirement Fund lifted its position in Maplebear by 10.4% in the 3rd quarter. Oregon Public Employees Retirement Fund now owns 37,100 shares of the company’s stock valued at $1,364,000 after acquiring an additional 3,500 shares in the last quarter. State of Alaska Department of Revenue boosted its stake in Maplebear by 8.2% during the 3rd quarter. State of Alaska Department of Revenue now owns 19,949 shares of the company’s stock valued at $733,000 after purchasing an additional 1,514 shares during the last quarter. HS Management Partners LLC increased its holdings in shares of Maplebear by 78.5% in the 3rd quarter. HS Management Partners LLC now owns 618,900 shares of the company’s stock worth $22,751,000 after purchasing an additional 272,100 shares in the last quarter. Finally, SG Americas Securities LLC raised its stake in shares of Maplebear by 268.8% in the third quarter. SG Americas Securities LLC now owns 23,244 shares of the company’s stock worth $854,000 after purchasing an additional 16,942 shares during the last quarter. Institutional investors own 63.09% of the company’s stock.

Maplebear Stock Performance

Shares of CART opened at $41.17 on Friday. The stock has a market capitalization of $10.81 billion, a PE ratio of 22.62, a P/E/G ratio of 1.05 and a beta of 0.97. The company’s fifty day moving average is $42.50 and its 200 day moving average is $43.55. Maplebear Inc. has a fifty-two week low of $34.78 and a fifty-two week high of $53.50.

Maplebear (NASDAQ:CART) last posted its quarterly earnings data on Monday, November 10th. The company reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.01. The business had revenue of $939.00 million during the quarter, compared to analyst estimates of $933.76 million. Maplebear had a return on equity of 15.72% and a net margin of 14.09%.The company’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same period last year, the company earned $0.42 EPS. As a group, research analysts forecast that Maplebear Inc. will post 1.43 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Argus assumed coverage on shares of Maplebear in a research report on Wednesday. They set a “buy” rating and a $52.00 price objective for the company. Fox Advisors lowered Maplebear from a “strong-buy” rating to a “hold” rating in a report on Thursday, December 18th. Guggenheim started coverage on Maplebear in a research note on Wednesday, October 15th. They issued a “neutral” rating and a $40.00 price objective on the stock. Needham & Company LLC cut their price objective on Maplebear from $66.00 to $50.00 and set a “buy” rating for the company in a research note on Tuesday, November 11th. Finally, Robert W. Baird reduced their target price on shares of Maplebear from $60.00 to $50.00 and set an “outperform” rating for the company in a report on Wednesday, October 1st. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $52.16.

Insider Buying and Selling at Maplebear

In other Maplebear news, Director Fidji Simo sold 3,051 shares of the business’s stock in a transaction on Wednesday, October 15th. The shares were sold at an average price of $39.60, for a total transaction of $120,819.60. Following the transaction, the director owned 570,756 shares in the company, valued at $22,601,937.60. The trade was a 0.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, General Counsel Morgan Fong sold 4,914 shares of the stock in a transaction on Monday, December 22nd. The shares were sold at an average price of $45.21, for a total transaction of $222,161.94. Following the completion of the sale, the general counsel directly owned 404,940 shares in the company, valued at approximately $18,307,337.40. This represents a 1.20% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 12,525 shares of company stock valued at $521,304 over the last ninety days. 26.00% of the stock is owned by insiders.

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.