Maplebear Inc. $CART Stake Raised by WINTON GROUP Ltd

Key Points

• WINTON GROUP Ltd increased its Maplebear stake by 368.1% in the second quarter, ending with 136,409 shares worth approximately $6.46 million. Institutional investors now own 63.09% of the company, with BlackRock and California State Teachers Retirement System also making major additions.
• Maplebear reported quarterly revenue of $1.04 billion, up 14.1% year over year and slightly ahead of expectations, but earnings per share of $0.45 missed the $0.54 consensus estimate.
• Analysts remain broadly positive, with 15 Buy ratings and an average target price of $56.14 versus a share price of $46.64. However, company insiders recently sold shares, including a director’s $7.59 million transaction.

WINTON GROUP Ltd raised its holdings in shares of Maplebear Inc. (NASDAQ:CART - Free Report) by 368.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 136,409 shares of the company's stock after acquiring an additional 107,271 shares during the period. WINTON GROUP Ltd owned approximately 0.06% of Maplebear worth $6,459,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. BlackRock Inc. acquired a new stake in Maplebear in the second quarter worth approximately $750,477,000. California State Teachers Retirement System lifted its stake in Maplebear by 4,490.8% during the second quarter. California State Teachers Retirement System now owns 9,115,159 shares of the company's stock valued at $431,603,000 after purchasing an additional 8,916,607 shares during the last quarter. Viking Global Investors LP acquired a new stake in Maplebear during the second quarter valued at approximately $169,782,000. Marshall Wace LLP bought a new stake in Maplebear during the fourth quarter worth approximately $126,206,000. Finally, Norges Bank bought a new stake in Maplebear during the fourth quarter worth approximately $97,221,000. 63.09% of the stock is currently owned by institutional investors.

Maplebear Stock Performance

CART stock opened at $46.64 on Thursday. The stock has a market cap of $10.80 billion, a P/E ratio of 25.49, a P/E/G ratio of 0.94 and a beta of 0.80. The firm has a 50 day simple moving average of $47.95 and a 200 day simple moving average of $43.08. Maplebear Inc. has a 52 week low of $32.73 and a 52 week high of $52.68.

Maplebear (NASDAQ:CART - Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The company reported $0.45 earnings per share for the quarter, missing analysts' consensus estimates of $0.54 by ($0.09). The firm had revenue of $1.04 billion for the quarter, compared to analysts' expectations of $1.03 billion. Maplebear had a return on equity of 20.19% and a net margin of 11.97%.The firm's revenue for the quarter was up 14.1% on a year-over-year basis. During the same period last year, the business earned $0.41 earnings per share. Sell-side analysts predict that Maplebear Inc. will post 2.33 EPS for the current year.

Analyst Ratings Changes

Several research firms have issued reports on CART. Oppenheimer upped their price target on Maplebear from $60.00 to $65.00 and gave the company an "outperform" rating in a report on Friday, August 7th. Needham & Company LLC raised their price objective on Maplebear from $55.00 to $63.00 and gave the stock a "buy" rating in a research note on Friday, August 7th. Wedbush started coverage on Maplebear in a report on Thursday, July 16th. They issued an "outperform" rating and a $59.00 target price on the stock. BNP Paribas Exane raised Maplebear from an "underperform" rating to a "neutral" rating and set a $56.00 target price on the stock in a research report on Friday, August 7th. Finally, Barclays upped their target price on Maplebear from $69.00 to $77.00 and gave the company an "overweight" rating in a report on Friday, August 7th. Fifteen equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Maplebear has an average rating of "Moderate Buy" and an average target price of $56.14.

Insider Activity

In other Maplebear news, Director Ravi Gupta sold 150,000 shares of the business's stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $50.61, for a total value of $7,591,500.00. Following the completion of the sale, the director owned 591,523 shares of the company's stock, valued at $29,936,979.03. The trade was a 20.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Morgan Fong sold 18,390 shares of the company's stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $49.96, for a total value of $918,764.40. Following the sale, the insider owned 529,911 shares of the company's stock, valued at approximately $26,474,353.56. This trade represents a 3.35% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 24.00% of the stock is owned by company insiders.

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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