Dimensional Fund Advisors LP Has $186.62 Million Stake in Maplebear Inc. $CART

Key Points

• Dimensional Fund Advisors LP increased its stake in Maplebear by 31.4% in Q1, buying more than 1.18 million shares and bringing its total holding to 4.98 million shares worth about $186.6 million.
• Maplebear’s latest quarterly results showed $1.02 billion in revenue, up 13.6% from a year earlier, but earnings per share of $0.57 slightly missed estimates by one cent.
• Analysts remain broadly positive on the stock, with a consensus rating of Moderate Buy and an average price target of $51.48, while Wedbush recently initiated coverage with a $59 target.

Dimensional Fund Advisors LP boosted its holdings in Maplebear Inc. (NASDAQ:CART - Free Report) by 31.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,981,960 shares of the company's stock after purchasing an additional 1,189,287 shares during the period. Dimensional Fund Advisors LP owned about 2.10% of Maplebear worth $186,618,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Pinnacle Bancorp Inc. bought a new stake in Maplebear during the 1st quarter worth about $25,000. PenderFund Capital Management Ltd. acquired a new position in shares of Maplebear during the 4th quarter worth about $27,000. Allworth Financial LP grew 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 acquiring an additional 244 shares in the last quarter. IFP Advisors Inc grew its holdings 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 acquiring an additional 845 shares in the last quarter. Finally, Sunbelt Securities Inc. increased its position in shares of Maplebear by 212.7% in the third quarter. Sunbelt Securities Inc. now owns 1,157 shares of the company's stock valued at $43,000 after acquiring an additional 787 shares during the last quarter. 63.09% of the stock is currently owned by institutional investors and hedge funds.

Maplebear Stock Performance

NASDAQ CART opened at $42.21 on Friday. The stock has a market cap of $9.92 billion, a PE ratio of 23.58, a P/E/G ratio of 0.58 and a beta of 0.75. The firm has a 50-day moving average of $43.98 and a 200-day moving average of $40.64. Maplebear Inc. has a 52-week low of $32.73 and a 52-week high of $53.50.

Maplebear (NASDAQ:CART - Get Free Report) last released its quarterly 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). The company had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.01 billion. Maplebear had a net margin of 12.50% and a return on equity of 18.67%. The firm's revenue was up 13.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.37 earnings per share. As a group, analysts predict that Maplebear Inc. will post 2.46 EPS for the current fiscal year.

Insider Activity

In other news, Director Ravi Gupta sold 181,000 shares of the business's stock in a transaction that occurred on 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 owned 741,523 shares in the company, valued at $30,780,619.73. The trade was a 19.62% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 24.00% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research firms recently issued reports on CART. Wedbush assumed coverage on Maplebear in a report on Thursday, July 16th. They set an "outperform" rating and a $59.00 target price on the stock. Needham & Company LLC restated a "buy" rating and issued a $55.00 price objective on shares of Maplebear in a research note on Thursday, May 7th. Jefferies Financial Group raised Maplebear from a "hold" rating to a "buy" rating and raised their price objective for the company from $38.00 to $45.00 in a research report on Monday, March 30th. Raymond James Financial upgraded Maplebear from a "hold" rating to a "moderate buy" rating in a research note on Thursday, April 9th. Finally, Weiss Ratings raised Maplebear from a "hold (c-)" rating to a "hold (c)" rating in a report on Monday, May 11th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Maplebear presently has a consensus rating of "Moderate Buy" and an average target price of $51.48.

About Maplebear

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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