Epoch Investment Partners Inc. Makes New $4.34 Million Investment in Maplebear Inc. $CART

Key Points

• Epoch Investment Partners Inc. has acquired 108,785 shares of Maplebear Inc. (NASDAQ:CART), representing a stake valued at approximately $4.34 million as reported in their recent 13F filing.
• Maplebear's quarterly earnings exceeded estimates, reporting an EPS of $0.41 compared to the consensus of $0.39, along with a revenue of $914 million, up 11.1% year-over-year.
• Several institutional investors have increased their stakes in Maplebear during the first quarter, with notable increases from Vanguard Group and Victory Capital Management.

Epoch Investment Partners Inc. bought a new position in Maplebear Inc. (NASDAQ:CART - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The fund bought 108,785 shares of the company's stock, valued at approximately $4,339,000.

A number of other large investors have also added to or reduced their stakes in the stock. CWM LLC grew its position in Maplebear by 35.1% in the 1st quarter. CWM LLC now owns 1,058 shares of the company's stock worth $42,000 after purchasing an additional 275 shares during the period. Signaturefd LLC grew its position in Maplebear by 27.1% in the 1st quarter. Signaturefd LLC now owns 1,335 shares of the company's stock worth $53,000 after purchasing an additional 285 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its position in Maplebear by 18.6% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,056 shares of the company's stock worth $82,000 after purchasing an additional 322 shares during the period. Wealthspire Advisors LLC grew its position in Maplebear by 0.5% in the 1st quarter. Wealthspire Advisors LLC now owns 70,951 shares of the company's stock worth $2,830,000 after purchasing an additional 334 shares during the period. Finally, Wealth Enhancement Advisory Services LLC grew its position in Maplebear by 0.5% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 74,846 shares of the company's stock worth $2,986,000 after purchasing an additional 336 shares during the period. Institutional investors own 63.09% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Jefferies Financial Group boosted their price objective on shares of Maplebear from $50.00 to $55.00 and gave the company a "hold" rating in a research report on Monday, August 11th. Macquarie reissued an "outperform" rating and set a $55.00 price objective on shares of Maplebear in a research report on Tuesday, May 6th. Robert W. Baird cut their price objective on shares of Maplebear from $65.00 to $60.00 and set an "outperform" rating for the company in a research report on Friday, August 22nd. Morgan Stanley boosted their price objective on shares of Maplebear from $45.00 to $48.00 and gave the company an "equal weight" rating in a research report on Friday, August 15th. Finally, Wedbush reissued an "underperform" rating and set a $42.00 price objective (down previously from $55.00) on shares of Maplebear in a research report on Thursday, August 21st. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $55.63.

Insiders Place Their Bets

In other Maplebear news, insider Grosvenor L.P. Gcm sold 4,864,272 shares of the business's stock in a transaction on Friday, July 25th. The shares were sold at an average price of $47.75, for a total value of $232,268,988.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Levien Meredith A. Kopit sold 4,225 shares of the business's stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $47.45, for a total transaction of $200,476.25. Following the completion of the sale, the director owned 20,829 shares in the company, valued at approximately $988,336.05. The trade was a 16.86% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 4,975,327 shares of company stock worth $237,736,848. 26.00% of the stock is owned by corporate insiders.

Maplebear Trading Up 1.1%

Shares of CART traded up $0.50 during trading hours on Tuesday, reaching $43.87. 1,240,059 shares of the stock traded hands, compared to its average volume of 4,354,554. Maplebear Inc. has a 52-week low of $33.17 and a 52-week high of $53.50. The company's 50-day moving average price is $46.85 and its two-hundred day moving average price is $44.28. The company has a market cap of $11.56 billion, a P/E ratio of 25.45, a price-to-earnings-growth ratio of 1.45 and a beta of 1.22.

Maplebear (NASDAQ:CART - Get Free Report) last released its earnings results on Thursday, August 7th. The company reported $0.41 earnings per share for the quarter, beating analysts' consensus estimates of $0.39 by $0.02. Maplebear had a net margin of 13.76% and a return on equity of 15.69%. The company had revenue of $914.00 million for the quarter, compared to analysts' expectations of $896.55 million. During the same quarter in the previous year, the company earned $0.20 EPS. Maplebear's revenue for the quarter was up 11.1% on a year-over-year basis. On average, research analysts forecast that Maplebear Inc. will post 1.43 EPS for the current year.

Maplebear Company Profile

Maplebear Inc, doing business as Instacart, engages in the provision of online grocery shopping services to households in North America. It sells and delivers grocery products, as well as pickup services through a mobile application and website. It also operates virtual convenience stores; and provides software-as-a-service solutions to retailers.