Aurora Investment Counsel Takes Position in Maplebear Inc. $CART

Key Points

• Aurora Investment Counsel acquired 60,989 Maplebear shares worth approximately $2.9 million, making Instacart operator Maplebear its fifth-largest holding at 1.5% of assets. Institutional investors collectively own 63.09% of the company.
• Maplebear reported quarterly revenue of $1.04 billion, up 14.1% year over year and slightly above estimates, but earnings per share of $0.45 missed the $0.54 consensus.
• Analysts maintain a generally positive outlook, with a “Moderate Buy” consensus and an average price target of $55.90. Shares recently opened at $50.67, near their 52-week high of $51.06.

Aurora Investment Counsel purchased a new position in shares of Maplebear Inc. (NASDAQ:CART - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 60,989 shares of the company's stock, valued at approximately $2,888,000. Maplebear makes up about 1.5% of Aurora Investment Counsel's holdings, making the stock its 5th largest holding.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new position in shares of Maplebear in the 2nd quarter valued at about $750,477,000. Viking Global Investors LP purchased a new position in shares of Maplebear during the 2nd quarter valued at approximately $169,782,000. Marshall Wace LLP acquired a new stake in Maplebear in the 4th quarter valued at $126,206,000. Norges Bank acquired a new stake in Maplebear in the 4th quarter valued at $97,221,000. Finally, Dimensional Fund Advisors LP increased its holdings in Maplebear by 114.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,792,673 shares of the company's stock worth $170,594,000 after acquiring an additional 2,026,567 shares in the last quarter. Institutional investors and hedge funds own 63.09% of the company's stock.

Maplebear Price Performance

Maplebear stock opened at $50.67 on Thursday. The firm has a 50 day simple moving average of $46.26 and a 200-day simple moving average of $41.51. The stock has a market cap of $11.73 billion, a price-to-earnings ratio of 27.69, a price-to-earnings-growth ratio of 0.72 and a beta of 0.78. Maplebear Inc. has a 1-year low of $32.73 and a 1-year high of $51.06.

Maplebear (NASDAQ:CART - Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The company reported $0.45 EPS for the quarter, missing the consensus estimate of $0.54 by ($0.09). Maplebear had a net margin of 11.97% and a return on equity of 20.19%. The firm had revenue of $1.04 billion for the quarter, compared to analysts' expectations of $1.03 billion. During the same period in the previous year, the firm posted $0.41 EPS. The firm's quarterly revenue was up 14.1% compared to the same quarter last year. Equities analysts expect that Maplebear Inc. will post 2.33 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms have recently commented on CART. Barclays boosted their target price on shares of Maplebear from $69.00 to $77.00 and gave the stock an "overweight" rating in a research note on Friday, August 7th. JPMorgan Chase & Co. raised their price target on shares of Maplebear from $55.00 to $62.00 and gave the company an "overweight" rating in a research note on Friday, August 7th. Wall Street Zen cut Maplebear from a "buy" rating to a "hold" rating in a report on Saturday, August 8th. Weiss Ratings reiterated a "hold (c)" rating on shares of Maplebear in a research note on Friday, August 7th. Finally, Citizens Jmp reissued a "market outperform" rating and set a $60.00 target price on shares of Maplebear in a report on Monday, June 15th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and eight have issued a Hold rating to the company's stock. According to data from MarketBeat, Maplebear presently has a consensus rating of "Moderate Buy" and a consensus price target of $55.90.

Insider Activity

In related 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 of the company's stock, valued at approximately $30,780,619.73. This trade represents a 19.62% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 24.00% of the company's stock.

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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