Maplebear Inc. $CART Shares Acquired by Cwm LLC

Key Points

• Cwm LLC boosted its stake in Maplebear (NASDAQ:CART) by 1,741.4% in Q4, purchasing 28,454 shares to hold 30,088 shares worth about $1.35 million.
• Insiders have been net sellers: the CAO sold 9,390 shares and the general counsel sold 126,083 shares, with a total of 144,863 insider shares sold in the last 90 days (~$5.42 million), leaving insiders with 24% ownership.
• Analysts maintain a consensus of “Moderate Buy” with an average price target of $51.29 while the stock trades near $42.17 and Maplebear has a market cap of roughly $9.98 billion.

Cwm LLC increased its stake in shares of Maplebear Inc. (NASDAQ:CART - Free Report) by 1,741.4% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 30,088 shares of the company's stock after purchasing an additional 28,454 shares during the period. Cwm LLC's holdings in Maplebear were worth $1,353,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Nordea Investment Management AB raised its holdings in shares of Maplebear by 128.4% during the third quarter. Nordea Investment Management AB now owns 119,828 shares of the company's stock valued at $4,254,000 after acquiring an additional 67,374 shares during the last quarter. Thrivent Financial for Lutherans boosted its stake in shares of Maplebear by 3,054.0% in the third quarter. Thrivent Financial for Lutherans now owns 1,407,993 shares of the company's stock worth $51,758,000 after acquiring an additional 1,363,352 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Maplebear by 27.8% in the third quarter. JPMorgan Chase & Co. now owns 1,328,968 shares of the company's stock worth $48,853,000 after acquiring an additional 288,839 shares during the last quarter. Deltec Asset Management LLC acquired a new stake in shares of Maplebear in the third quarter worth approximately $1,838,000. Finally, Kingdon Capital Management L.L.C. increased its position in shares of Maplebear by 40.6% during the third quarter. Kingdon Capital Management L.L.C. now owns 450,000 shares of the company's stock worth $16,542,000 after purchasing an additional 130,000 shares in the last quarter. 63.09% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CAO Lisa Blackwood-Kapral sold 9,390 shares of the firm's stock in a transaction dated Wednesday, April 15th. The shares were 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 directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, 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 transaction of $4,676,418.47. Following the completion of the transaction, the general counsel owned 386,643 shares in the company, valued at $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. Over the last 90 days, insiders have sold 144,863 shares of company stock valued at $5,418,135. 24.00% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research analysts recently commented on the company. Weiss Ratings reissued a "hold (c)" rating on shares of Maplebear in a research note on Monday, December 29th. Benchmark dropped their target price on shares of Maplebear from $60.00 to $53.00 and set a "buy" rating for the company in a report on Tuesday, February 10th. Jefferies Financial Group raised shares of Maplebear from a "hold" rating to a "buy" rating and raised their price target for the stock from $38.00 to $45.00 in a research note on Monday, March 30th. BNP Paribas Exane began coverage on shares of Maplebear in a research report on Wednesday, January 14th. They set an "underperform" rating and a $41.00 price target on the stock. Finally, Argus raised shares of Maplebear to a "strong-buy" rating in a research note on Thursday, March 5th. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, Maplebear has an average rating of "Moderate Buy" and an average price target of $51.29.

Maplebear Price Performance

Shares of CART opened at $42.17 on Monday. Maplebear Inc. has a 52-week low of $32.73 and a 52-week high of $53.50. The stock has a fifty day simple moving average of $38.49 and a two-hundred day simple moving average of $39.76. The company has a market capitalization of $9.98 billion, a PE ratio of 26.52, a price-to-earnings-growth ratio of 0.65 and a beta of 0.88.

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.

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