Maplebear Inc. $CART Stock Holdings Lowered by Algert Global LLC

Key Points

• Algert Global cut its Maplebear (CART) stake by 15.2% in the second quarter, selling 34,670 shares and retaining 192,888 shares valued at approximately $9.1 million. Institutional investors collectively own 63.09% of the company.
• Maplebear’s latest quarterly results showed revenue growth of 14.1% to $1.04 billion, exceeding estimates, though adjusted earnings of $0.45 per share missed the $0.54 consensus forecast.
• Analyst sentiment remains positive, with a “Moderate Buy” consensus and an average price target of $55.90. However, Director Ravi Gupta sold 150,000 shares for about $7.6 million, reducing his position by 20.23%.

Algert Global LLC lessened its position in Maplebear Inc. (NASDAQ:CART - Free Report) by 15.2% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 192,888 shares of the company's stock after selling 34,670 shares during the period. Algert Global LLC owned approximately 0.08% of Maplebear worth $9,133,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Pinnacle Bancorp Inc. bought a new position in Maplebear in the 1st quarter valued at about $25,000. PenderFund Capital Management Ltd. acquired a new stake in shares of Maplebear during the fourth quarter worth $27,000. Allworth Financial LP lifted its stake in Maplebear by 35.7% during the third quarter. Allworth Financial LP now owns 928 shares of the company's stock valued at $34,000 after buying an additional 244 shares in the last quarter. IFP Advisors Inc lifted its position in shares of 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 acquiring an additional 845 shares in the last quarter. Finally, Sunbelt Securities Inc. lifted its holdings in shares of Maplebear by 212.7% in the third quarter. Sunbelt Securities Inc. now owns 1,157 shares of the company's stock valued at $43,000 after purchasing an additional 787 shares in the last quarter. 63.09% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director Ravi Gupta sold 150,000 shares of the firm's stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $50.61, for a total value of $7,591,500.00. Following the transaction, the director directly owned 591,523 shares in the company, valued at approximately $29,936,979.03. This trade represents a 20.23% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 24.00% of the company's stock.

Maplebear Price Performance

NASDAQ CART opened at $51.51 on Wednesday. Maplebear Inc. has a fifty-two week low of $32.73 and a fifty-two week high of $52.05. The stock's 50-day moving average is $46.95 and its two-hundred day moving average is $41.91. The firm has a market cap of $11.92 billion, a P/E ratio of 28.15, a price-to-earnings-growth ratio of 0.76 and a beta of 0.78.

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

Wall Street Analyst Weigh In

Several equities analysts have weighed in on CART shares. Wells Fargo & Company lifted their target price on Maplebear from $47.00 to $54.00 and gave the company an "equal weight" rating in a research note on Friday, August 7th. Weiss Ratings restated a "hold (c)" rating on shares of Maplebear in a report on Friday, August 7th. Guggenheim upped their price objective on shares of Maplebear from $44.00 to $46.00 and gave the company a "neutral" rating in a research note on Friday, August 7th. Cantor Fitzgerald increased their target price on shares of Maplebear from $56.00 to $63.00 and gave the stock an "overweight" rating in a research report on Friday, August 7th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Maplebear from $55.00 to $62.00 and gave the company an "overweight" rating in a report on Friday, August 7th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $55.90.

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).

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