Jump Financial LLC Increases Stake in Maplebear Inc. $CART

Key Points

• Jump Financial LLC increased its stake in Maplebear Inc. by 3.5%, owning a total of 195,941 shares valued at approximately $7.8 million as of their latest SEC filing.
• Multiple institutional investors significantly raised their stakes in Maplebear, with Principal Financial Group Inc. increasing its holdings by a staggering 4,154.7% during the first quarter.
• Analysts have a positive outlook for Maplebear, with several firms raising their price targets, resulting in an average target of $55.63 and an overall "Moderate Buy" rating.

Jump Financial LLC lifted its position in shares of Maplebear Inc. (NASDAQ:CART - Free Report) by 3.5% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 195,941 shares of the company's stock after acquiring an additional 6,599 shares during the quarter. Jump Financial LLC owned approximately 0.07% of Maplebear worth $7,816,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Principal Financial Group Inc. grew its stake in shares of Maplebear by 4,154.7% during the 1st quarter. Principal Financial Group Inc. now owns 372,581 shares of the company's stock worth $14,862,000 after acquiring an additional 363,824 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its stake 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. Cambridge Investment Research Advisors Inc. boosted its stake in Maplebear by 7.6% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 6,166 shares of the company's stock worth $246,000 after purchasing an additional 433 shares during the period. Golden State Wealth Management LLC boosted its stake in Maplebear by 100.0% in the 1st quarter. Golden State Wealth Management LLC now owns 1,066 shares of the company's stock worth $43,000 after purchasing an additional 533 shares during the period. Finally, New York State Teachers Retirement System boosted its stake in Maplebear by 542.8% in the 1st quarter. New York State Teachers Retirement System now owns 101,720 shares of the company's stock worth $4,058,000 after purchasing an additional 85,896 shares during the period. Institutional investors own 63.09% of the company's stock.

Maplebear Stock Performance

NASDAQ:CART traded up $0.56 during mid-day trading on Thursday, reaching $43.85. The stock had a trading volume of 2,662,554 shares, compared to its average volume of 4,383,217. The firm has a 50 day moving average price of $46.85 and a two-hundred day moving average price of $44.51. The stock has a market capitalization of $11.55 billion, a P/E ratio of 25.35, a P/E/G ratio of 1.44 and a beta of 1.21. Maplebear Inc. has a one year low of $33.17 and a one year high of $53.50.

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, topping analysts' consensus estimates of $0.39 by $0.02. The company had revenue of $914.00 million during the quarter, compared to the consensus estimate of $896.55 million. Maplebear had a return on equity of 15.69% and a net margin of 13.76%.Maplebear's quarterly revenue was up 11.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.20 EPS. Research analysts forecast that Maplebear Inc. will post 1.43 earnings per share for the current year.

Wall Street Analysts Forecast Growth

CART has been the subject of several analyst reports. Stifel Nicolaus raised their target price on Maplebear from $55.00 to $64.00 and gave the stock a "buy" rating in a research note on Friday, August 8th. Wedbush restated an "underperform" rating and issued a $42.00 target price (down previously from $55.00) on shares of Maplebear in a research note on Thursday, August 21st. Jefferies Financial Group raised their target price on Maplebear from $50.00 to $55.00 and gave the stock a "hold" rating in a research note on Monday, August 11th. Citigroup raised their target price on Maplebear from $57.00 to $65.00 and gave the stock a "buy" rating in a research note on Friday, August 8th. Finally, Bank of America lifted their price target on Maplebear from $53.00 to $58.00 and gave the company a "neutral" rating 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, eight have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Maplebear currently has an average rating of "Moderate Buy" and an average price target of $55.63.

Insider Buying and Selling

In related news, Director Levien Meredith A. Kopit sold 4,225 shares of the business's stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $47.45, for a total value of $200,476.25. Following the completion of the sale, the director owned 20,829 shares in the company, valued at $988,336.05. The trade was a 16.86% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, General Counsel Morgan Fong sold 4,680 shares of the business's stock in a transaction that occurred on Monday, July 21st. The stock was sold at an average price of $49.16, for a total value of $230,068.80. Following the completion of the sale, the general counsel owned 452,000 shares of the company's stock, valued at $22,220,320. The trade was a 1.02% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 4,975,327 shares of company stock worth $237,736,848 over the last ninety days. Corporate insiders own 26.00% of the company's stock.

About Maplebear

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.