Westfield Capital Management Co. LP Has $1.89 Million Stock Position in Maplebear Inc. $CART

Westfield Capital Management Co. LP lessened its holdings in shares of Maplebear Inc. (NASDAQ:CART) by 96.5% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 51,381 shares of the company’s stock after selling 1,430,847 shares during the quarter. Westfield Capital Management Co. LP’s holdings in Maplebear were worth $1,889,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of CART. US Bancorp DE increased its holdings in shares of Maplebear by 3,456.4% in the third quarter. US Bancorp DE now owns 373,992 shares of the company’s stock valued at $13,748,000 after purchasing an additional 363,476 shares in the last quarter. MAI Capital Management lifted its holdings in shares of Maplebear by 72.5% during the third quarter. MAI Capital Management now owns 12,444 shares of the company’s stock worth $457,000 after purchasing an additional 5,232 shares during the period. TD Asset Management Inc lifted its stake in shares of Maplebear by 95.5% in the 3rd quarter. TD Asset Management Inc now owns 847,595 shares of the company’s stock valued at $31,158,000 after purchasing an additional 413,995 shares during the period. Counterpoint Mutual Funds LLC bought a new stake in Maplebear in the 3rd quarter valued at about $2,239,000. Finally, AXQ Capital LP bought a new stake in shares of Maplebear during the third quarter worth about $861,000. 63.09% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on CART shares. Stifel Nicolaus cut their target price on Maplebear from $49.00 to $46.00 and set a “buy” rating on the stock in a research note on Tuesday, January 27th. Benchmark reduced their price objective on Maplebear from $60.00 to $53.00 and set a “buy” rating on the stock in a research report on Tuesday, February 10th. BNP Paribas Exane assumed coverage on shares of Maplebear in a report on Wednesday, January 14th. They issued an “underperform” rating and a $41.00 price objective on the stock. Fox Advisors lowered shares of Maplebear from a “strong-buy” rating to a “hold” rating in a research report on Thursday, December 18th. Finally, Wall Street Zen upgraded Maplebear from a “hold” rating to a “buy” rating in a research note on Saturday, February 14th. Fourteen analysts have rated the stock with a Buy rating, eleven have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $51.04.

Maplebear Stock Performance

NASDAQ CART opened at $37.51 on Friday. The company has a market cap of $9.85 billion, a PE ratio of 23.59, a P/E/G ratio of 0.59 and a beta of 1.00. The firm’s 50 day moving average price is $39.48 and its 200-day moving average price is $41.02. Maplebear Inc. has a 52-week low of $32.73 and a 52-week high of $53.50.

Insider Buying and Selling at Maplebear

In related news, General Counsel Morgan Fong sold 4,914 shares of the company’s stock in a transaction dated Monday, December 22nd. The stock was sold at an average price of $45.21, for a total transaction of $222,161.94. Following the transaction, the general counsel directly owned 404,940 shares of the company’s stock, valued at $18,307,337.40. This represents a 1.20% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 26.00% of the stock is owned by insiders.

About Maplebear

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.