Epoch Investment Partners Inc. Has $36.52 Million Stock Position in Maplebear Inc. $CART

Key Points

• Epoch Investment Partners reduced its Maplebear stake by 6.9% in the fourth quarter, but still held 811,958 shares valued at about $36.5 million at quarter-end.
• Several other large institutional investors also maintained or increased positions in CART, and institutional ownership stands at 63.09%, signaling continued strong hedge fund interest.
• Insiders have recently sold shares, including Director Ravi Gupta and CAO Lisa Blackwood-Kapral, while analysts remain generally constructive with a Moderate Buy consensus and a price target of $51.09.

Epoch Investment Partners Inc. trimmed its position in Maplebear Inc. (NASDAQ:CART - Free Report) by 6.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 811,958 shares of the company's stock after selling 59,920 shares during the quarter. Epoch Investment Partners Inc. owned approximately 0.31% of Maplebear worth $36,522,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in CART. Viking Global Investors LP acquired a new position in shares of Maplebear in the second quarter worth about $169,782,000. Marshall Wace LLP acquired a new position in shares of Maplebear in the fourth quarter worth about $126,206,000. Holocene Advisors LP acquired a new position in shares of Maplebear in the third quarter worth about $90,167,000. Norges Bank acquired a new position in shares of Maplebear in the fourth quarter worth about $97,221,000. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Maplebear by 114.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,792,673 shares of the company's stock worth $170,594,000 after buying an additional 2,026,567 shares during the period. 63.09% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Ravi Gupta sold 181,000 shares of the business's stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $41.51, for a total value of $7,513,310.00. Following the completion of the sale, the director directly owned 741,523 shares in the company, valued at approximately $30,780,619.73. The trade was a 19.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Lisa Blackwood-Kapral sold 9,390 shares of the business's stock in a transaction on Wednesday, April 15th. The stock was sold at an average price of $40.25, for a total transaction of $377,947.50. Following the completion of the sale, the chief accounting officer owned 58,971 shares of the company's stock, valued at $2,373,582.75. The trade was a 13.74% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 24.00% of the stock is currently owned by insiders.

Analyst Ratings Changes

CART has been the subject of several recent analyst reports. Weiss Ratings upgraded shares of Maplebear from a "hold (c-)" rating to a "hold (c)" rating in a report on Monday, May 11th. Raymond James Financial upgraded shares of Maplebear from a "hold" rating to a "moderate buy" rating in a report on Thursday, April 9th. Barclays raised their price target on shares of Maplebear from $65.00 to $69.00 and gave the stock an "overweight" rating in a report on Thursday, May 7th. Needham & Company LLC restated a "buy" rating and set a $55.00 price target on shares of Maplebear in a report on Thursday, May 7th. Finally, Jefferies Financial Group upgraded shares of Maplebear from a "hold" rating to a "buy" rating and raised their price target for the stock from $38.00 to $45.00 in a report on Monday, March 30th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, nine have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $51.09.

Maplebear Price Performance

Shares of NASDAQ CART opened at $41.24 on Monday. The business's 50-day moving average price is $40.98 and its two-hundred day moving average price is $40.27. Maplebear Inc. has a one year low of $32.73 and a one year high of $53.50. The company has a market capitalization of $9.69 billion, a P/E ratio of 23.04, a price-to-earnings-growth ratio of 0.57 and a beta of 0.88.

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

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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