Robeco Institutional Asset Management B.V. Buys 119,906 Shares of Maplebear Inc. $CART

Key Points

• Robeco Institutional Asset Management B.V. increased its stake in Maplebear Inc. by 36.3%, acquiring an additional 119,906 shares to reach a total of 450,047 shares, valued at approximately $20.36 million.
• Maplebear reported a 0.41 EPS for the latest quarter, surpassing analyst expectations of $0.39, with revenues reaching $914 million, an 11.1% year-over-year increase.
• Several institutional investors have also boosted their holdings in Maplebear, with over 63.09% of the stock now owned by hedge funds and other institutional investors.

Robeco Institutional Asset Management B.V. raised its stake in Maplebear Inc. (NASDAQ:CART - Free Report) by 36.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 450,047 shares of the company's stock after buying an additional 119,906 shares during the period. Robeco Institutional Asset Management B.V. owned about 0.17% of Maplebear worth $20,360,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in shares of Maplebear by 3.4% in the first quarter. Vanguard Group Inc. now owns 16,514,830 shares of the company's stock valued at $658,777,000 after purchasing an additional 546,472 shares during the period. Victory Capital Management Inc. increased its holdings in Maplebear by 62.8% during the 1st quarter. Victory Capital Management Inc. now owns 7,368,232 shares of the company's stock worth $293,919,000 after purchasing an additional 2,841,559 shares during the period. T. Rowe Price Investment Management Inc. raised its position in Maplebear by 10.2% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 5,226,979 shares of the company's stock valued at $208,505,000 after purchasing an additional 482,327 shares in the last quarter. Altimeter Capital Management LP raised its position in Maplebear by 31.9% during the 1st quarter. Altimeter Capital Management LP now owns 3,348,128 shares of the company's stock valued at $133,557,000 after purchasing an additional 810,510 shares in the last quarter. Finally, Federated Hermes Inc. lifted its holdings in shares of Maplebear by 15.0% in the 1st quarter. Federated Hermes Inc. now owns 2,832,384 shares of the company's stock worth $112,984,000 after buying an additional 370,120 shares during the period. 63.09% of the stock is owned by hedge funds and other institutional investors.

Maplebear Stock Performance

Shares of CART stock opened at $38.18 on Friday. Maplebear Inc. has a fifty-two week low of $34.87 and a fifty-two week high of $53.50. The firm has a market capitalization of $10.06 billion, a PE ratio of 22.07, a P/E/G ratio of 1.28 and a beta of 1.10. The stock's 50-day simple moving average is $44.70 and its 200-day simple moving average is $44.30.

Maplebear (NASDAQ:CART - Get Free Report) last issued its earnings results on Thursday, August 7th. The company reported $0.41 EPS for the quarter, beating analysts' consensus estimates of $0.39 by $0.02. Maplebear had a return on equity of 15.69% and a net margin of 13.76%.The firm had revenue of $914.00 million for the quarter, compared to analyst estimates of $896.55 million. During the same quarter in the prior year, the firm earned $0.20 earnings per share. Maplebear's revenue for the quarter was up 11.1% on a year-over-year basis. Sell-side analysts forecast that Maplebear Inc. will post 1.43 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms recently weighed in on CART. Stifel Nicolaus decreased their price objective on Maplebear from $64.00 to $56.00 and set a "buy" rating for the company in a report on Wednesday, September 24th. Citigroup upped their price target on shares of Maplebear from $57.00 to $65.00 and gave the stock a "buy" rating in a research report on Friday, August 8th. JMP Securities lifted their price objective on shares of Maplebear from $55.00 to $60.00 and gave the company a "market outperform" rating in a report on Friday, August 8th. Weiss Ratings restated a "hold (c)" rating on shares of Maplebear in a report on Saturday, September 27th. Finally, Morgan Stanley lifted their price target on Maplebear from $45.00 to $48.00 and gave the company an "equal weight" rating in a report on Friday, August 15th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Maplebear currently has an average rating of "Moderate Buy" and an average price target of $53.42.

Insider Transactions at Maplebear

In other Maplebear news, Director Fidji Simo sold 7,140 shares of the company's stock in a transaction on Monday, September 15th. The shares were sold at an average price of $47.30, for a total value of $337,722.00. Following the sale, the director directly owned 573,807 shares of the company's stock, valued at approximately $27,141,071.10. This represents a 1.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Chris Rogers sold 9,259 shares of Maplebear stock in a transaction dated Monday, September 22nd. The shares were sold at an average price of $42.37, for a total value of $392,303.83. Following the transaction, the chief executive officer owned 739,880 shares of the company's stock, valued at $31,348,715.60. The trade was a 1.24% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 4,986,367 shares of company stock valued at $238,211,261. 26.00% of the stock is owned by corporate insiders.

About Maplebear

Maplebear Inc, doing business as Instacart, engages in the provision of online grocery shopping services to households in North America. It sells and delivers grocery products, as well as pickup services through a mobile application and website. It also operates virtual convenience stores; and provides software-as-a-service solutions to retailers.

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