UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC Has $44.71 Million Holdings in Maplebear Inc. $CART

Key Points

• UBS AM increased its stake in Maplebear Inc. (NASDAQ:CART) by 60.3% during the first quarter, acquiring an additional 421,621 shares to total 1,120,740 shares valued at approximately $44.71 million.
• Insider Daniel Danker sold 10,037 shares of Maplebear stock for over $490,000, whereas another insider, Grosvenor L.P. Gcm, sold approximately 4.86 million shares for around $232.3 million, indicating significant insider trading activity.
• Maplebear's quarterly earnings report showed an earnings per share (EPS) of $0.41, exceeding analyst estimates, with revenues reaching $914 million, up 11.1% compared to the previous year.

UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Maplebear Inc. (NASDAQ:CART - Free Report) by 60.3% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,120,740 shares of the company's stock after buying an additional 421,621 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned about 0.43% of Maplebear worth $44,706,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. CWM LLC increased its holdings in shares of Maplebear by 35.1% during the first quarter. CWM LLC now owns 1,058 shares of the company's stock worth $42,000 after buying an additional 275 shares in the last quarter. Signaturefd LLC increased its holdings in shares of Maplebear by 27.1% during the first quarter. Signaturefd LLC now owns 1,335 shares of the company's stock worth $53,000 after buying an additional 285 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Maplebear by 18.6% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,056 shares of the company's stock worth $82,000 after buying an additional 322 shares in the last quarter. Wealthspire Advisors LLC increased its holdings in shares of Maplebear by 0.5% during the first quarter. Wealthspire Advisors LLC now owns 70,951 shares of the company's stock worth $2,830,000 after buying an additional 334 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its holdings in shares of Maplebear by 0.5% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 74,846 shares of the company's stock worth $2,986,000 after buying an additional 336 shares in the last quarter. 63.09% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Maplebear news, insider Daniel Danker sold 10,037 shares of Maplebear stock in a transaction that occurred on Friday, July 18th. The shares were sold at an average price of $48.82, for a total transaction of $490,006.34. Following the transaction, the insider owned 470,190 shares of the company's stock, valued at $22,954,675.80. This trade represents a 2.09% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Grosvenor L.P. Gcm sold 4,864,272 shares of Maplebear stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $47.75, for a total transaction of $232,268,988.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 4,971,102 shares of company stock valued at $237,536,372. 26.00% of the stock is currently owned by company insiders.

Maplebear Stock Performance

CART stock opened at $46.36 on Monday. The company has a market capitalization of $12.21 billion, a P/E ratio of 26.80, a price-to-earnings-growth ratio of 1.55 and a beta of 1.22. Maplebear Inc. has a 52-week low of $35.14 and a 52-week high of $53.50. The business has a 50-day simple moving average of $46.82 and a two-hundred day simple moving average of $44.05.

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

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on CART shares. Morgan Stanley lifted their price target on shares of Maplebear from $45.00 to $48.00 and gave the stock an "equal weight" rating in a report on Friday, August 15th. JMP Securities lifted their price target on shares of Maplebear from $55.00 to $60.00 and gave the stock a "market outperform" rating in a report on Friday, August 8th. Robert W. Baird cut their price target on shares of Maplebear from $65.00 to $60.00 and set an "outperform" rating on the stock in a report on Friday, August 22nd. Benchmark upgraded shares of Maplebear from a "hold" rating to a "buy" rating and set a $67.00 price target on the stock in a report on Friday, August 8th. Finally, Stifel Nicolaus lifted their price target on shares of Maplebear from $55.00 to $64.00 and gave the stock a "buy" rating in a report on Friday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, Maplebear has an average rating of "Moderate Buy" and a consensus price target of $55.71.

Maplebear Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.