HighTower Advisors LLC Acquires 6,856 Shares of Maplebear Inc. $CART

Key Points

• HighTower Advisors LLC increased its stake in Maplebear Inc. (NASDAQ:CART) by 4.6% during Q1, acquiring an additional 6,856 shares to reach a total of 155,077 shares valued at approximately $6.2 million.
• In the same quarter, multiple institutional investors raised their stakes significantly, with Invesco Ltd. increasing its position by 82.5% and Covestor Ltd. by 639.7%.
• Maplebear reported a net margin of 13.76% and a revenue increase of 11.1% year-over-year in its latest earnings report, with EPS surpassing analysts' expectations.

HighTower Advisors LLC raised its stake in Maplebear Inc. (NASDAQ:CART - Free Report) by 4.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 155,077 shares of the company's stock after acquiring an additional 6,856 shares during the quarter. HighTower Advisors LLC owned about 0.06% of Maplebear worth $6,186,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Proathlete Wealth Management LLC acquired a new stake in Maplebear in the 1st quarter valued at about $26,000. NewEdge Advisors LLC grew its position in shares of Maplebear by 277.9% during the 4th quarter. NewEdge Advisors LLC now owns 975 shares of the company's stock worth $40,000 after buying an additional 717 shares during the period. UMB Bank n.a. grew its position in shares of Maplebear by 914.1% during the 1st quarter. UMB Bank n.a. now owns 1,004 shares of the company's stock worth $40,000 after buying an additional 905 shares during the period. Spire Wealth Management acquired a new stake in shares of Maplebear during the 1st quarter worth approximately $41,000. Finally, CWM LLC grew its position in shares of Maplebear by 35.1% during the 1st quarter. CWM LLC now owns 1,058 shares of the company's stock worth $42,000 after buying an additional 275 shares during the period. Institutional investors and hedge funds own 63.09% of the company's stock.

Maplebear Stock Down 1.4%

NASDAQ CART traded down $0.62 during trading on Monday, reaching $42.75. 5,386,929 shares of the stock traded hands, compared to its average volume of 5,832,333. Maplebear Inc. has a fifty-two week low of $33.17 and a fifty-two week high of $53.50. The stock's 50-day moving average price is $46.86 and its 200 day moving average price is $44.52. The firm has a market cap of $11.26 billion, a price-to-earnings ratio of 24.71, a price-to-earnings-growth ratio of 1.45 and a beta of 1.21.

Maplebear (NASDAQ:CART - Get Free Report) last announced its quarterly 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 firm had revenue of $914.00 million for the quarter, compared to analyst estimates of $896.55 million. During the same quarter in the previous year, the firm posted $0.20 earnings per share. The business's revenue was up 11.1% on a year-over-year basis. Analysts anticipate that Maplebear Inc. will post 1.43 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages have recently commented on CART. Stifel Nicolaus lifted their price target on shares of Maplebear from $55.00 to $64.00 and gave the stock a "buy" rating in a research report on Friday, August 8th. Sanford C. Bernstein lifted their price target on shares of Maplebear from $55.00 to $60.00 and gave the stock an "outperform" rating in a research report on Monday, July 21st. Needham & Company LLC lifted their price target on shares of Maplebear from $56.00 to $66.00 and gave the stock a "buy" rating in a research report on Friday, August 8th. Citigroup lifted their price target on shares of Maplebear from $57.00 to $65.00 and gave the stock a "buy" rating in a research report on Friday, August 8th. Finally, JMP Securities lifted their price target on shares of Maplebear from $55.00 to $60.00 and gave the stock a "market outperform" rating in a research report on Friday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Maplebear currently has a consensus rating of "Moderate Buy" and a consensus price target of $55.63.

Insider Transactions at Maplebear

In other Maplebear news, insider Grosvenor L.P. Gcm sold 4,864,272 shares of Maplebear stock in a transaction that occurred 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 document filed with the SEC, which is available at this hyperlink. Also, CEO Fidji Simo sold 66,560 shares of Maplebear stock in a transaction that occurred on Tuesday, July 22nd. The shares were sold at an average price of $50.01, for a total transaction of $3,328,665.60. Following the completion of the transaction, the chief executive officer directly owned 1,965,445 shares in the company, valued at approximately $98,291,904.45. The trade was a 3.28% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 4,975,327 shares of company stock valued at $237,736,848. 26.00% of the stock is currently owned by insiders.

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.