Maplebear Inc. $CART Holdings Lowered by TD Asset Management Inc

Key Points

• TD Asset Management cut its Maplebear stake by 52.5% in the fourth quarter, leaving it with 402,218 shares worth about $18.1 million. Despite the trim, institutional ownership remains high, with hedge funds and other investors holding 63.09% of the stock.
• Maplebear’s latest quarterly results showed earnings of $0.57 per share, missing estimates by $0.01, while revenue came in at $1.02 billion, slightly above expectations. Revenue rose 13.6% year over year, and analysts now expect full-year EPS of 2.45.
• Analyst sentiment remains broadly positive, with a Moderate Buy consensus and an average target price of $51.09. However, some firms recently lowered their price targets or ratings, reflecting mixed views on the stock’s near-term upside.

TD Asset Management Inc trimmed its stake in shares of Maplebear Inc. (NASDAQ:CART - Free Report) by 52.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 402,218 shares of the company's stock after selling 445,377 shares during the period. TD Asset Management Inc owned about 0.15% of Maplebear worth $18,092,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of CART. Royal Bank of Canada lifted its holdings in shares of Maplebear by 51.2% during the first quarter. Royal Bank of Canada now owns 131,789 shares of the company's stock valued at $5,256,000 after purchasing an additional 44,642 shares during the last quarter. NewEdge Advisors LLC lifted its holdings in shares of Maplebear by 71.6% during 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 last quarter. Jones Financial Companies Lllp lifted its holdings in shares of Maplebear by 358.5% during the first quarter. Jones Financial Companies Lllp now owns 3,200 shares of the company's stock valued at $128,000 after purchasing an additional 2,502 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Maplebear by 17.4% during the first quarter. Goldman Sachs Group Inc. now owns 390,711 shares of the company's stock valued at $15,585,000 after purchasing an additional 57,879 shares during the last quarter. Finally, Empowered Funds LLC purchased a new stake in shares of Maplebear during the first quarter valued at $268,000. 63.09% of the stock is owned by hedge funds and other institutional investors.

Maplebear Stock Performance

Shares of Maplebear stock opened at $41.26 on Monday. The stock has a 50-day moving average price of $40.51 and a 200 day moving average price of $40.23. The company has a market cap of $9.70 billion, a P/E ratio of 23.05, a P/E/G ratio of 0.57 and a beta of 0.88. 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 announced 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). The business had revenue of $1.02 billion during the quarter, compared to analysts' expectations of $1.01 billion. Maplebear had a return on equity of 18.67% and a net margin of 12.50%.The firm's revenue was up 13.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.37 earnings per share. On average, equities analysts forecast that Maplebear Inc. will post 2.45 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Maplebear news, CAO Lisa Blackwood-Kapral sold 9,390 shares of the company's stock in a transaction dated Wednesday, April 15th. The stock was sold at an average price of $40.25, for a total value of $377,947.50. Following the transaction, the chief accounting officer directly owned 58,971 shares of the company's stock, valued at $2,373,582.75. This represents a 13.74% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Morgan Fong sold 126,083 shares of the company's stock in a transaction dated Wednesday, March 11th. The stock was sold at an average price of $37.09, for a total value of $4,676,418.47. Following the completion of the transaction, the general counsel directly owned 386,643 shares in the company, valued at approximately $14,340,588.87. The trade was a 24.59% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 325,863 shares of company stock valued at $12,931,445. Corporate insiders own 24.00% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on CART shares. Benchmark reduced their target price on Maplebear from $60.00 to $53.00 and set a "buy" rating for the company in a report on Tuesday, February 10th. Needham & Company LLC reaffirmed a "buy" rating and set a $55.00 target price on shares of Maplebear in a report on Thursday, May 7th. Weiss Ratings raised Maplebear from a "hold (c-)" rating to a "hold (c)" rating in a report on Monday, May 11th. Wall Street Zen lowered Maplebear from a "buy" rating to a "hold" rating in a research report on Saturday, May 2nd. Finally, Argus raised Maplebear to a "strong-buy" rating in a research note on Thursday, March 5th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $51.09.

Maplebear Company 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.

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