D1 Capital Partners L.P. lessened its holdings in Maplebear Inc. (NASDAQ:CART – Free Report) by 22.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,551,414 shares of the company’s stock after selling 6,359,608 shares during the period. Maplebear comprises 17.7% of D1 Capital Partners L.P.’s investment portfolio, making the stock its biggest holding. D1 Capital Partners L.P. owned 8.65% of Maplebear worth $918,745,000 as of its most recent SEC filing.
Several other large investors have also added to or reduced their stakes in the business. Pacer Advisors Inc. bought a new position in shares of Maplebear during the third quarter valued at about $158,701,000. Sculptor Capital LP purchased a new position in shares of Maplebear in the 2nd quarter worth approximately $77,361,000. Federated Hermes Inc. grew its holdings in shares of Maplebear by 102.2% in the second quarter. Federated Hermes Inc. now owns 1,734,264 shares of the company’s stock valued at $55,739,000 after acquiring an additional 876,439 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Maplebear by 5,191.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,489,655 shares of the company’s stock valued at $60,689,000 after acquiring an additional 1,461,501 shares during the last quarter. Finally, Industry Ventures L.L.C. lifted its holdings in Maplebear by 3.3% during the second quarter. Industry Ventures L.L.C. now owns 980,458 shares of the company’s stock worth $31,512,000 after acquiring an additional 31,175 shares during the period. Institutional investors own 63.09% of the company’s stock.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently commented on CART shares. Jefferies Financial Group assumed coverage on Maplebear in a research note on Wednesday, October 16th. They set a “hold” rating and a $43.00 target price on the stock. JMP Securities boosted their target price on shares of Maplebear from $42.00 to $51.00 and gave the company a “market outperform” rating in a research note on Wednesday, November 13th. Morgan Stanley decreased their price target on shares of Maplebear from $45.00 to $41.00 and set an “equal weight” rating for the company in a research note on Tuesday, September 24th. Robert W. Baird upped their price objective on Maplebear from $44.00 to $51.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Finally, Raymond James started coverage on Maplebear in a research note on Tuesday, September 24th. They issued a “market perform” rating on the stock. Twelve research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $47.29.
Maplebear Price Performance
Shares of NASDAQ CART opened at $43.44 on Friday. Maplebear Inc. has a one year low of $22.13 and a one year high of $50.01. The firm’s 50 day simple moving average is $43.17 and its two-hundred day simple moving average is $37.03. The stock has a market capitalization of $11.16 billion, a P/E ratio of 29.15, a PEG ratio of 1.12 and a beta of 1.12.
Maplebear (NASDAQ:CART – Get Free Report) last announced its quarterly earnings data on Tuesday, November 12th. The company reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.20. Maplebear had a return on equity of 13.78% and a net margin of 13.37%. The firm had revenue of $852.00 million during the quarter, compared to the consensus estimate of $844.03 million. During the same quarter in the previous year, the company posted ($20.86) earnings per share. The business’s revenue was up 11.5% on a year-over-year basis. As a group, equities analysts expect that Maplebear Inc. will post 1.4 earnings per share for the current fiscal year.
Insider Activity
In other news, CAO Alan Ramsay sold 2,486 shares of the business’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $41.39, for a total transaction of $102,895.54. Following the transaction, the chief accounting officer now directly owns 99,225 shares of the company’s stock, valued at approximately $4,106,922.75. The trade was a 2.44 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Morgan Fong sold 8,345 shares of Maplebear stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $40.00, for a total transaction of $333,800.00. Following the completion of the sale, the general counsel now owns 330,886 shares in the company, valued at approximately $13,235,440. This trade represents a 2.46 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 110,954 shares of company stock valued at $4,890,405. Insiders own 36.00% of the company’s stock.
Maplebear Company Profile
Maplebear Inc, doing business as Instacart, engages in the provision of online grocery shopping services to households in North America. It sells and delivers grocery products, as well as pickup services through a mobile application and website. It also operates virtual convenience stores; and provides software-as-a-service solutions to retailers.
See Also
- Five stocks we like better than Maplebear
- Compound Interest and Why It Matters When Investing
- Zeta Global Holdings Insiders Buy Stock After Short-Report
- Stock Market Upgrades: What Are They?
- 3 Stocks That Never Lived Up to the Hype
- Investing in the High PE Growth Stocks
- 3 Stocks to Ride the Manufacturing Sector’s Big Comeback
Want to see what other hedge funds are holding CART? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Maplebear Inc. (NASDAQ:CART – Free Report).
Receive News & Ratings for Maplebear Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Maplebear and related companies with MarketBeat.com's FREE daily email newsletter.