Liontrust Investment Partners LLP Increases Stake in Maplebear Inc. $CART

Liontrust Investment Partners LLP boosted its holdings in shares of Maplebear Inc. (NASDAQ:CART - Free Report) by 40.5% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 219,822 shares of the company's stock after buying an additional 63,415 shares during the quarter. Liontrust Investment Partners LLP owned 0.09% of Maplebear worth $8,235,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Royal Bank of Canada raised its stake in shares of Maplebear by 51.2% in the first quarter. Royal Bank of Canada now owns 131,789 shares of the company's stock valued at $5,256,000 after acquiring an additional 44,642 shares in the last quarter. NewEdge Advisors LLC boosted its holdings in Maplebear by 71.6% in the first quarter. NewEdge Advisors LLC now owns 1,673 shares of the company's stock valued at $67,000 after purchasing an additional 698 shares during the period. Jones Financial Companies Lllp grew its stake in Maplebear by 358.5% during the 1st quarter. Jones Financial Companies Lllp now owns 3,200 shares of the company's stock worth $128,000 after purchasing an additional 2,502 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in Maplebear by 17.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 390,711 shares of the company's stock worth $15,585,000 after purchasing an additional 57,879 shares in the last quarter. Finally, Empowered Funds LLC acquired a new position in Maplebear during the 1st quarter worth $268,000. Hedge funds and other institutional investors own 63.09% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Guggenheim increased their price target on Maplebear from $40.00 to $44.00 and gave the company a "neutral" rating in a research report on Wednesday. Needham & Company LLC reissued a "buy" rating and set a $55.00 price objective on shares of Maplebear in a research report on Thursday, May 7th. Wall Street Zen upgraded shares of Maplebear from a "hold" rating to a "buy" rating in a research note on Saturday, July 18th. Wells Fargo & Company upped their target price on shares of Maplebear from $45.00 to $47.00 and gave the stock an "equal weight" rating in a research note on Thursday, May 7th. Finally, Barclays raised their target price on shares of Maplebear from $65.00 to $69.00 and gave the company an "overweight" rating in a report on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $51.67.

Maplebear Price Performance

Maplebear stock opened at $44.75 on Friday. The stock has a market cap of $10.52 billion, a PE ratio of 25.00, a P/E/G ratio of 0.62 and a beta of 0.75. The stock's fifty day moving average is $44.31 and its two-hundred day moving average is $40.66. Maplebear Inc. has a 1-year low of $32.73 and a 1-year high of $53.50.

Maplebear (NASDAQ:CART - Get Free Report) last released its quarterly earnings data on Wednesday, May 6th. The company reported $0.57 earnings per share (EPS) for the quarter, missing the consensus estimate 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 for the quarter, compared to analyst estimates of $1.01 billion. During the same period in the prior year, the company posted $0.37 earnings per share. The company's revenue was up 13.6% compared to the same quarter last year. On average, research analysts expect that Maplebear Inc. will post 2.46 earnings per share for the current fiscal year.

Insider Transactions at Maplebear

In other Maplebear news, Director Ravi Gupta sold 181,000 shares of the stock in a transaction that occurred 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 transaction, the director directly owned 741,523 shares in the company, valued at $30,780,619.73. This represents a 19.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 24.00% of the stock is owned by company insiders.

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.

Want to see what other hedge funds are holding CART? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Maplebear Inc. (NASDAQ:CART - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.