HS Management Partners LLC Lowers Stock Holdings in Maplebear Inc. $CART

Key Points

• HS Management Partners LLC cut its Maplebear stake by 45.4% in the fourth quarter, selling 280,800 shares and leaving it with 338,100 shares worth about $15.2 million.
• Other institutional investors have been active in CART, with several large firms adding or building positions; hedge funds and other institutions now own about 63.09% of the company.
• Maplebear reported quarterly revenue of $1.02 billion, up 13.6% year over year, but earnings per share of $0.57 slightly missed estimates. Analysts remain broadly positive, with a consensus Moderate Buy rating and a target price of $51.09.

HS Management Partners LLC decreased its position in shares of Maplebear Inc. (NASDAQ:CART - Free Report) by 45.4% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 338,100 shares of the company's stock after selling 280,800 shares during the quarter. Maplebear makes up 3.2% of HS Management Partners LLC's holdings, making the stock its 15th largest holding. HS Management Partners LLC owned 0.13% of Maplebear worth $15,208,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of CART. Viking Global Investors LP purchased a new position in shares of Maplebear during the 2nd quarter valued at $169,782,000. Holocene Advisors LP purchased a new position in shares of Maplebear during the 3rd quarter valued at $90,167,000. Thrivent Financial for Lutherans lifted its stake in shares of Maplebear by 3,054.0% during the 3rd quarter. Thrivent Financial for Lutherans now owns 1,407,993 shares of the company's stock valued at $51,758,000 after buying an additional 1,363,352 shares in the last quarter. Bank of America Corp DE lifted its stake in shares of Maplebear by 75.9% during the 3rd quarter. Bank of America Corp DE now owns 3,036,736 shares of the company's stock valued at $111,630,000 after buying an additional 1,310,392 shares in the last quarter. Finally, Picton Mahoney Asset Management lifted its stake in shares of Maplebear by 102.3% during the 3rd quarter. Picton Mahoney Asset Management now owns 18,332 shares of the company's stock valued at $673,000 after buying an additional 812,389 shares in the last quarter. Hedge funds and other institutional investors own 63.09% of the company's stock.

Insider Transactions at Maplebear

In other news, General Counsel Morgan Fong sold 126,083 shares of the business's stock in a transaction dated Wednesday, March 11th. The shares were sold at an average price of $37.09, for a total value of $4,676,418.47. Following the sale, the general counsel directly owned 386,643 shares in the company, valued at $14,340,588.87. The trade was a 24.59% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Lisa Blackwood-Kapral sold 9,390 shares of the business's stock in a transaction dated 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 in the company, valued at approximately $2,373,582.75. This trade represents a 13.74% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 144,863 shares of company stock worth $5,418,135. Insiders own 24.00% of the company's stock.

Maplebear Stock Performance

Shares of NASDAQ CART opened at $41.22 on Friday. The company has a market cap of $9.69 billion, a P/E ratio of 23.03, a P/E/G ratio of 0.57 and a beta of 0.96. The firm's fifty day moving average is $39.85 and its two-hundred day moving average is $40.03. 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 posted its earnings results on Wednesday, May 6th. The company reported $0.57 earnings per share for the quarter, missing analysts' consensus estimates of $0.58 by ($0.01). Maplebear had a return on equity of 18.67% and a net margin of 12.50%.The business had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.01 billion. During the same quarter last year, the firm earned $0.37 earnings per share. The business's quarterly revenue was up 13.6% on a year-over-year basis. As a group, analysts forecast that Maplebear Inc. will post 2.43 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Jefferies Financial Group upgraded shares of Maplebear from a "hold" rating to a "buy" rating and lifted their target price for the company from $38.00 to $45.00 in a research note on Monday, March 30th. Argus upgraded shares of Maplebear to a "strong-buy" rating in a report on Thursday, March 5th. Wells Fargo & Company lifted their price target on shares of Maplebear from $45.00 to $47.00 and gave the company an "equal weight" rating in a report on Thursday, May 7th. Barclays lifted their price target on shares of Maplebear from $65.00 to $69.00 and gave the company an "overweight" rating in a report on Thursday, May 7th. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $55.00 price target on shares of Maplebear in a report on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $51.09.

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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