Maplebear Inc. $CART Shares Purchased by Loftus Peak Pty Ltd

Loftus Peak Pty Ltd boosted its position in shares of Maplebear Inc. (NASDAQ:CART) by 7.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 390,084 shares of the company’s stock after acquiring an additional 27,817 shares during the quarter. Maplebear accounts for approximately 1.9% of Loftus Peak Pty Ltd’s investment portfolio, making the stock its 18th biggest holding. Loftus Peak Pty Ltd owned approximately 0.17% of Maplebear worth $16,820,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. BlackRock Inc. bought a new position in shares of Maplebear in the 2nd quarter valued at about $750,477,000. William Blair Investment Management LLC bought a new stake in shares of Maplebear in the 2nd quarter valued at about $86,462,000. Deutsche Bank AG bought a new stake in shares of Maplebear in the 2nd quarter valued at about $73,801,000. Goodnow Investment Group LLC bought a new stake in shares of Maplebear in the 2nd quarter valued at about $69,898,000. Finally, Bank of America Corp DE acquired a new stake in Maplebear in the 2nd quarter valued at about $57,392,000. Institutional investors and hedge funds own 63.09% of the company’s stock.

Maplebear Trading Down 0.5%

Shares of Maplebear stock opened at $49.40 on Thursday. The company has a 50 day moving average of $47.85 and a 200-day moving average of $44.57. The company has a market cap of $11.44 billion, a PE ratio of 26.99, a price-to-earnings-growth ratio of 0.96 and a beta of 0.87. Maplebear Inc. has a 1-year low of $32.73 and a 1-year high of $52.68.

Maplebear (NASDAQ:CART) last announced its quarterly earnings data on Thursday, August 6th. The company reported $0.45 EPS for the quarter, missing the consensus estimate of $0.54 by ($0.09). The firm had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.03 billion. Maplebear had a net margin of 11.97% and a return on equity of 20.19%. The firm’s revenue for the quarter was up 14.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.41 earnings per share. Research analysts forecast that Maplebear Inc. will post 2.33 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Wedbush began coverage on Maplebear in a report on Thursday, July 16th. They set an “outperform” rating and a $59.00 price target for the company. Citigroup lifted their price objective on shares of Maplebear from $50.00 to $58.00 and gave the stock a “buy” rating in a research report on Monday, August 10th. BNP Paribas Exane upgraded shares of Maplebear from an “underperform” rating to a “neutral” rating and set a $56.00 price objective on the stock in a report on Friday, August 7th. Guggenheim increased their price objective on shares of Maplebear from $44.00 to $46.00 and gave the company a “neutral” rating in a research report on Friday, August 7th. Finally, Needham & Company LLC increased their price objective on shares of Maplebear from $55.00 to $63.00 and gave the company a “buy” rating in a research report on Friday, August 7th. Fourteen investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, Maplebear has a consensus rating of “Moderate Buy” and a consensus target price of $58.24.

Insider Transactions at Maplebear

In other news, insider Morgan Fong sold 18,390 shares of the business’s stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $49.96, for a total transaction of $918,764.40. Following the sale, the insider directly owned 529,911 shares in the company, valued at approximately $26,474,353.56. The trade was a 3.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Lisa Blackwood-Kapral sold 3,017 shares of the business’s stock in a transaction dated Tuesday, September 15th. The stock was sold at an average price of $47.08, for a total value of $142,040.36. Following the sale, the chief accounting officer owned 37,715 shares in the company, valued at approximately $1,775,622.20. This trade represents a 7.41% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 189,797 shares of company stock worth $9,479,487. Corporate insiders own 24.00% of the company’s stock.

About Maplebear

Maplebear Inc, doing business as Instacart, operates an online grocery technology and delivery marketplace. Its platform connects consumers with retailers and independent personal shoppers, allowing customers to order groceries and other household products for delivery or pickup through Instacart’s website and mobile applications.

Instacart offers retailers digital storefronts, order fulfillment tools, customer engagement capabilities and other technology designed to support online grocery operations.