Bank of America Corp DE Acquires 221,036 Shares of Maplebear Inc. $CART

Key Points

• Bank of America increased its Maplebear (Instacart) stake by 16.5% in the first quarter, buying 221,036 additional shares for a total holding of 1.56 million shares valued at approximately $58.5 million. Institutional investors collectively own 63.09% of the company.
• Maplebear reported quarterly revenue of $1.04 billion, up 14.1% year over year, but earnings per share of $0.45 fell short of the $0.54 analyst consensus. The stock opened at $50.56, near its 52-week high of $52.31.
• Analyst sentiment remains broadly positive, with several firms raising price targets and the consensus rating at “Moderate Buy” with a $55.52 target. Instacart also expanded beyond groceries through a same-day delivery partnership with Academy Sports + Outdoors, while director Ravi Gupta sold 181,000 shares.

Bank of America Corp DE lifted its holdings in shares of Maplebear Inc. (NASDAQ:CART - Free Report) by 16.5% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 1,562,097 shares of the company's stock after purchasing an additional 221,036 shares during the period. Bank of America Corp DE owned about 0.66% of Maplebear worth $58,516,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in the business. PenderFund Capital Management Ltd. purchased a new position in shares of Maplebear in the fourth quarter worth about $27,000. Pinnacle Bancorp Inc. bought a new stake in shares of Maplebear in the 1st quarter valued at about $25,000. Allworth Financial LP boosted its holdings in Maplebear by 35.7% during 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 period. IFP Advisors Inc boosted 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 during the period. Finally, Sunbelt Securities Inc. grew its position in Maplebear by 212.7% during the 3rd quarter. Sunbelt Securities Inc. now owns 1,157 shares of the company's stock worth $43,000 after acquiring an additional 787 shares during the last quarter. Hedge funds and other institutional investors own 63.09% of the company's stock.

Maplebear Stock Up 0.8%

CART opened at $50.56 on Tuesday. The stock has a market cap of $11.88 billion, a PE ratio of 27.63, a PEG ratio of 0.69 and a beta of 0.78. The business has a 50 day moving average of $45.14 and a 200-day moving average of $40.98. Maplebear Inc. has a 52 week low of $32.73 and a 52 week high of $52.31.

Maplebear (NASDAQ:CART - Get Free Report) last released its 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 during the quarter, compared to analysts' expectations of $1.03 billion. Maplebear had a return on equity of 20.19% and a net margin of 11.97%.The firm's quarterly revenue was up 14.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.41 earnings per share. Equities analysts anticipate that Maplebear Inc. will post 2.43 EPS for the current year.

Key Headlines Impacting Maplebear

Here are the key news stories impacting Maplebear this week:

• Positive Sentiment: Citigroup raised its price target from $50 to $58 and upgraded CART to “Buy,” implying 14.7% upside from the referenced price. The move reflects increased confidence in Instacart’s earnings and growth outlook. Benzinga analyst update
• Positive Sentiment: Additional analysts raised their Maplebear price targets to $54, $62, $63, $65 and $77, while BNP Paribas Exane upgraded the stock. The broad pattern of upward revisions is supporting sentiment, although the targets remain widely dispersed. Maplebear price target raised to $54 Maplebear price target raised to $62 Maplebear price target raised to $63 Maplebear price target raised to $65 Maplebear price target raised to $77 Maplebear upgraded at BNP Paribas Exane
• Positive Sentiment: Instacart partnered with Academy Sports + Outdoors to offer same-day delivery—potentially within an hour—for sporting goods, outdoor equipment, apparel and private-label products, with no item markups. The deal broadens CART’s non-grocery assortment and could increase order frequency and gross transaction value. Instacart and Academy Sports plus Outdoors partnership

Insiders Place Their Bets

In other Maplebear news, Director Ravi Gupta sold 181,000 shares of the firm's stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $41.51, for a total transaction of $7,513,310.00. Following the completion of the transaction, the director 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 24.00% of the company's stock.

Analyst Ratings Changes

CART has been the subject of several recent research reports. BNP Paribas Exane upgraded Maplebear from an "underperform" rating to a "neutral" rating and set a $56.00 price objective for the company in a research report on Friday. Benchmark lifted their target price on shares of Maplebear from $55.00 to $63.00 and gave the stock a "buy" rating in a research note on Friday. Cantor Fitzgerald upped their price target on shares of Maplebear from $56.00 to $63.00 and gave the company an "overweight" rating in a report on Friday. Barclays increased their price target on shares of Maplebear from $69.00 to $77.00 and gave the company an "overweight" rating in a research report on Friday. Finally, Wall Street Zen lowered shares of Maplebear from a "buy" rating to a "hold" rating in a report on Saturday. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and nine have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $55.52.

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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