Corient Private Wealth LP Acquires New Holdings in Maplebear Inc. $CART

Key Points

• Corient Private Wealth acquired 25,918 Maplebear shares in the second quarter, valued at approximately $1.23 million. Institutional investors collectively own 63.09% of the company.
• Analyst sentiment remains positive overall, with 15 Buy ratings and 9 Holds, producing a “Moderate Buy” consensus and an average price target of $56.14.
• Maplebear reported quarterly revenue of $1.04 billion, up 14.1% year over year, but earnings of $0.45 per share fell short of the $0.54 consensus estimate. The stock opened at $51.07, near its 52-week high.

Corient Private Wealth LP purchased a new stake in Maplebear Inc. (NASDAQ:CART - Free Report) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 25,918 shares of the company's stock, valued at approximately $1,227,000.

Several other hedge funds have also recently bought and sold shares of CART. Pinnacle Bancorp Inc. acquired a new stake in Maplebear during the 1st quarter worth approximately $25,000. PenderFund Capital Management Ltd. purchased a new stake in shares of Maplebear during the 4th quarter worth approximately $27,000. Allworth Financial LP boosted its holdings in shares of 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 in the last quarter. Sunbelt Securities Inc. boosted its holdings 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 in the last quarter. Finally, IFP Advisors Inc grew its position in shares of 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. Institutional investors and hedge funds own 63.09% of the company's stock.

Analysts Set New Price Targets

CART has been the subject of a number of research reports. Citizens Jmp reissued a "market outperform" rating and issued a $60.00 price target on shares of Maplebear in a research report on Monday, June 15th. Wedbush assumed coverage on Maplebear in a research report on Thursday, July 16th. They set an "outperform" rating and a $59.00 target price on the stock. Wall Street Zen downgraded Maplebear from a "buy" rating to a "hold" rating in a research note on Saturday, August 8th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Maplebear in a research note on Friday, August 7th. Finally, BNP Paribas Exane upgraded Maplebear from an "underperform" rating to a "neutral" rating and set a $56.00 price target for the company in a research report on Friday, August 7th. Fifteen equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $56.14.

Maplebear Stock Down 1.3%

Shares of NASDAQ CART opened at $51.07 on Friday. The firm has a fifty day moving average of $47.82 and a 200-day moving average of $42.77. Maplebear Inc. has a 52-week low of $32.73 and a 52-week high of $52.68. The stock has a market capitalization of $11.82 billion, a PE ratio of 27.91, a P/E/G ratio of 1.01 and a beta of 0.80.

Maplebear (NASDAQ:CART - Get Free Report) last posted its quarterly earnings data 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). The firm had revenue of $1.04 billion for the quarter, compared to analysts' expectations of $1.03 billion. Maplebear had a net margin of 11.97% and a return on equity of 20.19%. The company's revenue for the quarter was up 14.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.41 EPS. Equities research analysts expect that Maplebear Inc. will post 2.33 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Ravi Gupta sold 150,000 shares of the stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $50.61, for a total transaction of $7,591,500.00. Following the completion of the transaction, the director directly owned 591,523 shares in the company, valued at approximately $29,936,979.03. This represents a 20.23% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Morgan Fong sold 18,390 shares of the stock in a transaction on Monday, August 24th. The shares were sold at an average price of $49.96, for a total transaction of $918,764.40. Following the transaction, the insider owned 529,911 shares in the company, valued at $26,474,353.56. This trade represents a 3.35% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 24.00% of the company's stock.

Maplebear Company 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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