BNP Paribas Financial Markets Lowers Stock Position in Maplebear Inc. $CART

Key Points

• BNP Paribas Financial Markets cut its Maplebear stake by 56.5% in the fourth quarter, leaving it with 222,851 shares valued at about $10.0 million.
• Maplebear reported quarterly earnings of $0.57 per share, slightly below estimates, while revenue came in at $1.02 billion, above expectations and up 13.6% year over year.
• Analysts remain generally bullish on CART, with a consensus “Moderate Buy” rating and an average price target of $51.09.

BNP Paribas Financial Markets reduced its stake in shares of Maplebear Inc. (NASDAQ:CART - Free Report) by 56.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 222,851 shares of the company's stock after selling 289,093 shares during the period. BNP Paribas Financial Markets owned 0.08% of Maplebear worth $10,024,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Hantz Financial Services Inc. lifted its position in shares of Maplebear by 78.6% during the 3rd quarter. Hantz Financial Services Inc. now owns 884 shares of the company's stock valued at $32,000 after buying an additional 389 shares in the last quarter. Allworth Financial LP lifted its holdings in Maplebear by 35.7% in the 3rd quarter. Allworth Financial LP now owns 928 shares of the company's stock worth $34,000 after purchasing an additional 244 shares in the last quarter. IFP Advisors Inc lifted its holdings in Maplebear by 761.3% in the 4th quarter. IFP Advisors Inc now owns 956 shares of the company's stock worth $43,000 after purchasing an additional 845 shares in the last quarter. Sunbelt Securities Inc. lifted its holdings in Maplebear by 212.7% in the 3rd quarter. Sunbelt Securities Inc. now owns 1,157 shares of the company's stock worth $43,000 after purchasing an additional 787 shares in the last quarter. Finally, Abich Financial Wealth Management LLC purchased a new position in Maplebear in the 3rd quarter worth approximately $43,000. 63.09% of the stock is owned by hedge funds and other institutional investors.

Maplebear Stock Performance

NASDAQ CART opened at $42.43 on Tuesday. The company has a market cap of $9.97 billion, a P/E ratio of 23.70, a P/E/G ratio of 0.57 and a beta of 0.88. The business's 50 day moving average price is $40.63 and its 200-day moving average price is $40.23. Maplebear Inc. has a fifty-two week low of $32.73 and a fifty-two week high of $53.50.

Maplebear (NASDAQ:CART - Get Free Report) last released its earnings results on Wednesday, May 6th. The company reported $0.57 earnings per share for the quarter, missing the consensus estimate of $0.58 by ($0.01). Maplebear had a net margin of 12.50% and a return on equity of 18.67%. The company had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.01 billion. During the same period in the prior year, the firm posted $0.37 EPS. The business's revenue for the quarter was up 13.6% compared to the same quarter last year. As a group, equities analysts predict that Maplebear Inc. will post 2.45 EPS for the current year.

Insiders Place Their Bets

In other Maplebear news, CAO Lisa Blackwood-Kapral sold 9,390 shares of the stock in a transaction on Wednesday, April 15th. The stock was sold at an average price of $40.25, for a total value of $377,947.50. Following the sale, the chief accounting officer owned 58,971 shares in the company, valued at $2,373,582.75. This trade represents a 13.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Morgan Fong sold 126,083 shares of the stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of $37.09, for a total value of $4,676,418.47. Following the completion of the sale, the general counsel owned 386,643 shares in the company, valued at approximately $14,340,588.87. The trade was a 24.59% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 325,863 shares of company stock worth $12,931,445 over the last quarter. Company insiders own 24.00% of the company's stock.

Analysts Set New Price Targets

CART has been the topic of a number of research analyst reports. Jefferies Financial Group raised Maplebear from a "hold" rating to a "buy" rating and boosted their price target for the stock from $38.00 to $45.00 in a report on Monday, March 30th. Benchmark lowered their price target on Maplebear from $60.00 to $53.00 and set a "buy" rating on the stock in a report on Tuesday, February 10th. Barclays boosted their price target on Maplebear from $65.00 to $69.00 and gave the stock an "overweight" rating in a report on Thursday, May 7th. Weiss Ratings raised Maplebear from a "hold (c-)" rating to a "hold (c)" rating in a report on Monday, May 11th. Finally, Raymond James Financial raised Maplebear from a "hold" rating to a "moderate buy" rating in a research note on Thursday, April 9th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $51.09.

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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