Wolf Hill Capital Management LP Sells 58,635 Shares of Maplebear Inc. $CART

Wolf Hill Capital Management LP decreased its holdings in shares of Maplebear Inc. (NASDAQ:CART) by 23.3% in the fourth quarter, HoldingsChannel reports. The firm owned 193,177 shares of the company’s stock after selling 58,635 shares during the quarter. Maplebear makes up 1.0% of Wolf Hill Capital Management LP’s investment portfolio, making the stock its 17th biggest position. Wolf Hill Capital Management LP’s holdings in Maplebear were worth $8,689,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. State Street Corp raised its position in Maplebear by 1.0% during the 4th quarter. State Street Corp now owns 5,461,637 shares of the company’s stock valued at $245,664,000 after purchasing an additional 54,872 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Maplebear by 114.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,792,673 shares of the company’s stock worth $170,594,000 after acquiring an additional 2,026,567 shares in the last quarter. Viking Global Investors LP bought a new position in shares of Maplebear in the 2nd quarter worth approximately $169,782,000. Geode Capital Management LLC raised its position in shares of Maplebear by 1.6% in the 4th quarter. Geode Capital Management LLC now owns 3,526,124 shares of the company’s stock worth $158,640,000 after acquiring an additional 54,010 shares in the last quarter. Finally, Federated Hermes Inc. raised its position in shares of Maplebear by 3.2% in the 4th quarter. Federated Hermes Inc. now owns 3,287,952 shares of the company’s stock worth $147,892,000 after acquiring an additional 101,278 shares in the last quarter. Institutional investors own 63.09% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on CART shares. Weiss Ratings raised Maplebear from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, May 11th. Barclays upped their price target on Maplebear from $65.00 to $69.00 and gave the stock an “overweight” rating in a research note on Thursday, May 7th. Needham & Company LLC restated a “buy” rating and issued a $55.00 price target on shares of Maplebear in a research note on Thursday, May 7th. Argus upgraded Maplebear to a “strong-buy” rating in a research note on Thursday, March 5th. Finally, Jefferies Financial Group upgraded Maplebear from a “hold” rating to a “buy” rating and upped their price target for the stock from $38.00 to $45.00 in a research note on Monday, March 30th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, nine have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $51.09.

Insiders Place Their Bets

In other news, Director Ravi Gupta sold 181,000 shares of the firm’s stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $41.51, for a total value of $7,513,310.00. Following the transaction, the director directly owned 741,523 shares in the company, valued at $30,780,619.73. This trade represents a 19.62% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CAO Lisa Blackwood-Kapral sold 9,390 shares of the firm’s stock in a transaction on Wednesday, April 15th. The stock was sold at an average price of $40.25, for a total value of $377,947.50. Following the completion of the transaction, the chief accounting officer owned 58,971 shares in the company, valued at approximately $2,373,582.75. This trade represents a 13.74% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 24.00% of the company’s stock.

Maplebear Trading Down 0.0%

Shares of CART opened at $41.24 on Monday. The business’s fifty day simple moving average is $40.98 and its two-hundred day simple moving average is $40.27. Maplebear Inc. has a 12 month low of $32.73 and a 12 month high of $53.50. The company has a market cap of $9.69 billion, a price-to-earnings ratio of 23.04, a P/E/G ratio of 0.57 and a beta of 0.88.

Maplebear (NASDAQ:CART) last released its quarterly earnings results on Wednesday, May 6th. The company reported $0.57 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.01). The firm had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1.01 billion. Maplebear had a return on equity of 18.67% and a net margin of 12.50%.The business’s quarterly revenue was up 13.6% on a year-over-year basis. During the same quarter last year, the business earned $0.37 earnings per share. As a group, research analysts forecast that Maplebear Inc. will post 2.45 EPS for the current year.

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.