173,810 Shares in Maplebear Inc. $CART Purchased by Mitsubishi UFJ Asset Management Co. Ltd.

Key Points

• Mitsubishi UFJ Asset Management acquired 173,810 Maplebear shares worth approximately $8.23 million, while institutional investors collectively owned 63.09% of the company.
• Analysts maintain a generally positive view, with Maplebear receiving a “Moderate Buy” consensus rating and an average price target of $55.90; several firms recently raised targets to $63.
• Maplebear’s latest quarterly revenue rose 14.1% year over year to $1.04 billion, though earnings of $0.45 per share missed estimates of $0.54. Director Ravi Gupta also sold 181,000 shares at an average price of $41.51.

Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in Maplebear Inc. (NASDAQ:CART - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 173,810 shares of the company's stock, valued at approximately $8,230,000. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.07% of Maplebear at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of CART. Pinnacle Bancorp Inc. acquired a new stake in shares of Maplebear in the first quarter valued at approximately $25,000. PenderFund Capital Management Ltd. acquired a new position in Maplebear during the 4th quarter worth $27,000. Allworth Financial LP boosted its position in Maplebear by 35.7% in the 3rd 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. IFP Advisors Inc boosted its position in Maplebear by 761.3% in the 4th 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. Finally, Sunbelt Securities Inc. increased its stake in shares of Maplebear by 212.7% in the 3rd 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 period. 63.09% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on CART. Citizens Jmp reaffirmed a "market outperform" rating and set a $60.00 price target on shares of Maplebear in a research note on Monday, June 15th. Needham & Company LLC upped their target price 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. Weiss Ratings reiterated a "hold (c)" rating on shares of Maplebear in a research report on Friday, August 7th. Benchmark boosted their price target on shares of Maplebear from $55.00 to $63.00 and gave the stock a "buy" rating in a research note on Friday, August 7th. Finally, 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. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $55.90.

Insider Activity

In related news, Director Ravi Gupta sold 181,000 shares of the stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $41.51, for a total transaction of $7,513,310.00. Following the completion of the sale, the director directly owned 741,523 shares of the company's stock, valued at approximately $30,780,619.73. This represents a 19.62% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 24.00% of the company's stock.

Maplebear Stock Down 2.4%

CART opened at $49.83 on Friday. The stock has a market cap of $11.54 billion, a P/E ratio of 27.23, a P/E/G ratio of 0.75 and a beta of 0.78. Maplebear Inc. has a 12 month low of $32.73 and a 12 month high of $51.81. The company has a fifty day simple moving average of $46.61 and a 200 day simple moving average of $41.66.

Maplebear (NASDAQ:CART - Get Free Report) last posted 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 net margin of 11.97% and a return on equity of 20.19%. The business had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.03 billion. During the same period in the previous year, the firm posted $0.41 earnings per share. The firm's revenue was up 14.1% on a year-over-year basis. On average, equities research analysts expect that Maplebear Inc. will post 2.33 earnings per share for the current fiscal 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.

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