Jupiter Topco LLC Acquires New Shares in Maplebear Inc. $CART

Jupiter Topco LLC acquired a new position in Maplebear Inc. (NASDAQ:CART) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 72,789 shares of the company’s stock, valued at approximately $3,446,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CART. Royal Bank of Canada lifted its position in shares of Maplebear by 51.2% in the 1st quarter. Royal Bank of Canada now owns 131,789 shares of the company’s stock worth $5,256,000 after purchasing an additional 44,642 shares during the period. NewEdge Advisors LLC increased its holdings in Maplebear by 71.6% during the first quarter. NewEdge Advisors LLC now owns 1,673 shares of the company’s stock valued at $67,000 after buying an additional 698 shares during the period. Jones Financial Companies Lllp raised its stake in Maplebear by 358.5% in the first quarter. Jones Financial Companies Lllp now owns 3,200 shares of the company’s stock worth $128,000 after buying an additional 2,502 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in Maplebear by 17.4% in the first quarter. Goldman Sachs Group Inc. now owns 390,711 shares of the company’s stock worth $15,585,000 after buying an additional 57,879 shares in the last quarter. Finally, Empowered Funds LLC purchased a new stake in Maplebear during the first quarter worth $268,000. 63.09% of the stock is currently owned by institutional investors.

Maplebear Price Performance

Shares of CART opened at $50.05 on Wednesday. The company’s fifty day moving average price is $47.55 and its 200-day moving average price is $42.48. Maplebear Inc. has a 1-year low of $32.73 and a 1-year high of $52.05. The firm has a market capitalization of $11.59 billion, a PE ratio of 27.35, a price-to-earnings-growth ratio of 0.98 and a beta of 0.78.

Maplebear (NASDAQ:CART) last issued its earnings results on Thursday, August 6th. The company reported $0.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.09). Maplebear had a return on equity of 20.19% and a net margin of 11.97%.The firm had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.03 billion. During the same quarter last year, the business earned $0.41 EPS. The business’s revenue was up 14.1% on a year-over-year basis. As a group, research analysts anticipate that Maplebear Inc. will post 2.33 EPS for the current fiscal year.

Insider Transactions at Maplebear

In related news, Director Ravi Gupta sold 150,000 shares of Maplebear stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $50.61, for a total transaction of $7,591,500.00. Following the completion of the sale, the director owned 591,523 shares of the company’s stock, valued at $29,936,979.03. The trade was a 20.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Morgan Fong sold 18,390 shares of the company’s stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $49.96, for a total value of $918,764.40. Following the completion of the sale, the insider owned 529,911 shares in the company, valued at approximately $26,474,353.56. This represents a 3.35% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 24.00% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

CART has been the subject of several recent research reports. Barclays boosted their price target on Maplebear from $69.00 to $77.00 and gave the stock an “overweight” rating in a research report on Friday, August 7th. Wedbush initiated coverage on Maplebear in a research note on Thursday, July 16th. They issued an “outperform” rating and a $59.00 target price on the stock. Citigroup boosted their target price on shares of Maplebear from $50.00 to $58.00 and gave the stock a “buy” rating in a report on Monday, August 10th. Wells Fargo & Company lifted their price objective on shares of Maplebear from $47.00 to $54.00 and gave the stock an “equal weight” rating in a research report on Friday, August 7th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Maplebear in a report on Friday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and nine have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Maplebear has a consensus rating of “Moderate Buy” and a consensus price target of $55.86.

Maplebear 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.