Maplebear Inc. $CART Shares Acquired by Prudential PLC

Key Points

• Prudential PLC increased its stake in Maplebear (Instacart) by 118.5% in the fourth quarter, buying 36,687 additional shares and bringing its total holding to 67,652 shares worth about $3.0 million.
• Maplebear reported quarterly earnings of $0.57 EPS, just below estimates, while revenue came in at $1.02 billion, topping expectations and rising 13.6% year over year.
• Analyst sentiment remains mostly positive, with an average rating of “Moderate Buy” and a consensus price target of $51.09, above the stock’s recent trading level near $41.

Prudential PLC raised its position in Maplebear Inc. (NASDAQ:CART - Free Report) by 118.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 67,652 shares of the company's stock after purchasing an additional 36,687 shares during the quarter. Prudential PLC's holdings in Maplebear were worth $3,043,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Hantz Financial Services Inc. boosted its holdings in Maplebear by 78.6% in the 3rd quarter. Hantz Financial Services Inc. now owns 884 shares of the company's stock valued at $32,000 after purchasing an additional 389 shares during the last quarter. Allworth Financial LP boosted its holdings in Maplebear by 35.7% in the 3rd quarter. Allworth Financial LP now owns 928 shares of the company's stock valued at $34,000 after purchasing an additional 244 shares during the last quarter. IFP Advisors Inc boosted its holdings in Maplebear by 761.3% in the 4th quarter. IFP Advisors Inc now owns 956 shares of the company's stock valued at $43,000 after purchasing an additional 845 shares during the last quarter. Sunbelt Securities Inc. boosted its holdings in Maplebear by 212.7% in the 3rd quarter. Sunbelt Securities Inc. now owns 1,157 shares of the company's stock valued at $43,000 after purchasing an additional 787 shares during the last quarter. Finally, Abich Financial Wealth Management LLC acquired a new position in Maplebear in the 3rd quarter valued at about $43,000. 63.09% of the stock is currently owned by institutional investors and hedge funds.

Maplebear Stock Performance

Shares of CART stock opened at $41.26 on Friday. The firm's 50 day moving average price is $40.51 and its 200-day moving average price is $40.23. Maplebear Inc. has a one year low of $32.73 and a one year high of $53.50. The firm 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 (NASDAQ:CART - Get Free Report) last issued its quarterly earnings data on Wednesday, May 6th. The company reported $0.57 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 company had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.01 billion. During the same quarter in the prior year, the company posted $0.37 earnings per share. The business's revenue was up 13.6% compared to the same quarter last year. As a group, research analysts predict that Maplebear Inc. will post 2.45 EPS for the current fiscal year.

Insider Transactions at Maplebear

In other news, CAO Lisa Blackwood-Kapral sold 9,390 shares of the company's stock in a transaction that occurred on Wednesday, April 15th. The shares were 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 in the company, valued at approximately $2,373,582.75. This represents a 13.74% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through 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 that occurred on Wednesday, March 11th. The stock was 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 approximately $14,340,588.87. This represents 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 three months, insiders have sold 325,863 shares of company stock worth $12,931,445. 24.00% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on CART. Wall Street Zen lowered shares of Maplebear from a "buy" rating to a "hold" rating in a report on Saturday, May 2nd. Barclays boosted 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. Jefferies Financial Group upgraded shares of Maplebear from a "hold" rating to a "buy" rating and boosted their target price for the company from $38.00 to $45.00 in a report on Monday, March 30th. Argus upgraded shares of Maplebear to a "strong-buy" rating in a report on Thursday, March 5th. Finally, Benchmark decreased their target price on shares of Maplebear from $60.00 to $53.00 and set a "buy" rating on the stock in a report on Tuesday, February 10th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $51.09.

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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