Invesco Ltd. Has $102.74 Million Holdings in Maplebear Inc. $CART

Key Points

• Invesco Ltd. has increased its holdings in Maplebear Inc. by 82.5%, acquiring an additional 1,164,702 shares, bringing its total ownership to approximately 2.57 million shares valued at $102.7 million.
• Analysts have a generally positive outlook on Maplebear, with a consensus target price of $55.46 and several upgrades from firms like Jefferies and Barclays.
• Insider activity is notable, with insiders selling approximately 4.97 million shares of Maplebear in recent months, representing about 26% of the stock currently owned by corporate insiders.

Invesco Ltd. raised its stake in Maplebear Inc. (NASDAQ:CART - Free Report) by 82.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,575,624 shares of the company's stock after acquiring an additional 1,164,702 shares during the quarter. Invesco Ltd. owned about 0.98% of Maplebear worth $102,742,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of CART. Victory Capital Management Inc. lifted its stake in Maplebear by 62.8% in the first quarter. Victory Capital Management Inc. now owns 7,368,232 shares of the company's stock valued at $293,919,000 after buying an additional 2,841,559 shares in the last quarter. Altimeter Capital Management LP acquired a new position in Maplebear during the fourth quarter worth $105,108,000. Jacobs Levy Equity Management Inc. increased its holdings in Maplebear by 85.0% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 3,081,847 shares of the company's stock worth $127,650,000 after buying an additional 1,416,426 shares during the last quarter. Westfield Capital Management Co. LP acquired a new position in shares of Maplebear in the first quarter valued at $48,639,000. Finally, Ameriprise Financial Inc. increased its holdings in shares of Maplebear by 533.6% in the fourth quarter. Ameriprise Financial Inc. now owns 1,257,676 shares of the company's stock valued at $52,090,000 after purchasing an additional 1,059,169 shares during the last quarter. Institutional investors own 63.09% of the company's stock.

Insider Transactions at Maplebear

In other news, CEO Fidji Simo sold 66,560 shares of the company's stock in a transaction that occurred on Tuesday, July 22nd. The stock was sold at an average price of $50.01, for a total value of $3,328,665.60. Following the completion of the transaction, the chief executive officer owned 1,965,445 shares of the company's stock, valued at $98,291,904.45. This represents a 3.28% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, General Counsel Morgan Fong sold 4,680 shares of the company's stock in a transaction that occurred on Monday, July 21st. The shares were sold at an average price of $49.16, for a total value of $230,068.80. Following the completion of the transaction, the general counsel directly owned 452,000 shares of the company's stock, valued at $22,220,320. This represents a 1.02% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 4,975,327 shares of company stock valued at $237,736,848. 26.00% of the stock is owned by company insiders.

Maplebear Stock Down 2.8%

Shares of CART stock traded down $1.2970 on Wednesday, reaching $45.2030. The company had a trading volume of 1,999,650 shares, compared to its average volume of 4,358,971. The stock has a market capitalization of $11.91 billion, a PE ratio of 26.14, a price-to-earnings-growth ratio of 1.54 and a beta of 1.21. Maplebear Inc. has a one year low of $33.06 and a one year high of $53.50. The business's 50-day moving average is $46.85 and its 200 day moving average is $44.68.

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

Wall Street Analysts Forecast Growth

CART has been the topic of several research reports. Morgan Stanley upped their price objective on shares of Maplebear from $45.00 to $48.00 and gave the company an "equal weight" rating in a report on Friday, August 15th. Needham & Company LLC upped their price objective on shares of Maplebear from $56.00 to $66.00 and gave the company a "buy" rating in a report on Friday, August 8th. Wall Street Zen raised shares of Maplebear from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. Sanford C. Bernstein boosted their target price on shares of Maplebear from $55.00 to $60.00 and gave the company an "outperform" rating in a research report on Monday, July 21st. Finally, Benchmark raised shares of Maplebear from a "hold" rating to a "buy" rating and set a $67.00 target price for the company in a research report on Friday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and nine have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $55.46.

Maplebear 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.