45,645 Shares in Maplebear Inc. $CART Bought by Miller Value Partners LLC

Miller Value Partners LLC purchased a new position in shares of Maplebear Inc. (NASDAQ:CART - Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 45,645 shares of the company's stock, valued at approximately $2,161,000.

A number of other large investors have also made changes to their positions in CART. Pinnacle Bancorp Inc. purchased a new position in shares of Maplebear in the first quarter valued at $25,000. PenderFund Capital Management Ltd. acquired a new stake in Maplebear in the 4th quarter valued at about $27,000. Allworth Financial LP grew its stake 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 acquiring an additional 244 shares during the last quarter. IFP Advisors Inc increased its holdings in Maplebear by 761.3% during the 4th quarter. IFP Advisors Inc now owns 956 shares of the company's stock valued at $43,000 after acquiring an additional 845 shares in the last quarter. Finally, Sunbelt Securities Inc. increased its holdings in Maplebear by 212.7% during the 3rd quarter. Sunbelt Securities Inc. now owns 1,157 shares of the company's stock valued at $43,000 after acquiring an additional 787 shares in the last quarter. Hedge funds and other institutional investors own 63.09% of the company's stock.

Wall Street Analysts Forecast Growth

CART has been the topic of a number of analyst reports. Oppenheimer increased their target price on Maplebear from $60.00 to $65.00 and gave the company an "outperform" rating in a report on Friday, August 7th. Cantor Fitzgerald boosted their price target on Maplebear from $56.00 to $63.00 and gave the stock an "overweight" rating in a report on Friday, August 7th. Wedbush began coverage on Maplebear in a research report on Thursday, July 16th. They issued an "outperform" rating and a $59.00 price objective on the stock. JPMorgan Chase & Co. increased their price objective on Maplebear from $55.00 to $62.00 and gave the company an "overweight" rating in a research note on Friday, August 7th. Finally, Guggenheim lifted their price objective on Maplebear from $44.00 to $46.00 and gave the stock a "neutral" rating in a research report on Friday, August 7th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $55.90.

Insiders Place Their Bets

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 transaction of $7,513,310.00. Following the completion of the sale, the director directly owned 741,523 shares in the company, valued at $30,780,619.73. This trade represents a 19.62% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 24.00% of the stock is currently owned by insiders.

Maplebear Trading Down 0.5%

Shares of CART opened at $51.51 on Wednesday. Maplebear Inc. has a twelve month low of $32.73 and a twelve month high of $52.05. The firm has a market capitalization of $11.92 billion, a P/E ratio of 28.15, a price-to-earnings-growth ratio of 0.76 and a beta of 0.78. The stock's fifty day simple moving average is $46.95 and its 200 day simple moving average is $41.91.

Maplebear (NASDAQ:CART - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The company reported $0.45 earnings per share for the quarter, missing analysts' consensus estimates of $0.54 by ($0.09). The business 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 company's quarterly revenue was up 14.1% on a year-over-year basis. During the same period last year, the firm earned $0.41 earnings per share. Sell-side analysts predict that Maplebear Inc. will post 2.33 earnings per share for the current year.

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.

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