Delta Global Management LP Grows Stake in Maplebear Inc. $CART

Delta Global Management LP raised its stake in Maplebear Inc. (NASDAQ:CART) by 13.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 192,085 shares of the company’s stock after acquiring an additional 23,476 shares during the period. Delta Global Management LP owned approximately 0.07% of Maplebear worth $8,640,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of CART. Allworth Financial LP boosted its position in shares of Maplebear by 35.7% during the third quarter. Allworth Financial LP now owns 928 shares of the company’s stock valued at $34,000 after buying an additional 244 shares during the last quarter. Abich Financial Wealth Management LLC purchased a new stake in shares of Maplebear during the third quarter valued at $43,000. IFP Advisors Inc boosted its position in shares of Maplebear by 761.3% during the fourth quarter. IFP Advisors Inc now owns 956 shares of the company’s stock valued at $43,000 after buying an additional 845 shares during the last quarter. Sunbelt Securities Inc. boosted its position in shares of Maplebear by 212.7% during the third quarter. Sunbelt Securities Inc. now owns 1,157 shares of the company’s stock valued at $43,000 after buying an additional 787 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB boosted its position in shares of Maplebear by 49.2% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 1,462 shares of the company’s stock valued at $66,000 after buying an additional 482 shares during the last quarter. 63.09% of the stock is owned by hedge funds and other institutional investors.

Maplebear Stock Performance

CART stock opened at $42.18 on Tuesday. Maplebear Inc. has a fifty-two week low of $32.73 and a fifty-two week high of $53.50. The business’s 50-day moving average is $41.05 and its two-hundred day moving average is $40.27. The company has a market cap of $9.91 billion, a price-to-earnings ratio of 23.56, a P/E/G ratio of 0.57 and a beta of 0.88.

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

Insider Activity

In other news, Director Ravi Gupta sold 181,000 shares of the firm’s stock in a transaction dated 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 owned 741,523 shares of the company’s stock, valued at $30,780,619.73. This trade represents a 19.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Lisa Blackwood-Kapral sold 9,390 shares of the firm’s stock in a transaction dated 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 directly owned 58,971 shares in the company, valued at $2,373,582.75. This trade represents a 13.74% decrease in their position. 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. 24.00% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Argus raised Maplebear to a “strong-buy” rating in a research report on Thursday, March 5th. Raymond James Financial raised Maplebear from a “hold” rating to a “moderate buy” rating in a research report on Thursday, April 9th. Wall Street Zen downgraded Maplebear from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. Jefferies Financial Group raised Maplebear from a “hold” rating to a “buy” rating and increased their target price for the company from $38.00 to $45.00 in a report on Monday, March 30th. Finally, Barclays increased their target price on Maplebear from $65.00 to $69.00 and gave the company an “overweight” rating in a report on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $51.09.

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.