Valueworks LLC Invests $22.17 Million in Maplebear Inc. $CART

Valueworks LLC acquired a new stake in Maplebear Inc. (NASDAQ:CART - Free Report) during the second quarter, according to its most recent filing with the SEC. The firm acquired 468,134 shares of the company's stock, valued at approximately $22,166,000. Maplebear comprises about 4.6% of Valueworks LLC's holdings, making the stock its 5th largest position. Valueworks LLC owned approximately 0.20% of Maplebear as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Allworth Financial LP grew its holdings in Maplebear by 35.7% during the 3rd quarter. Allworth Financial LP now owns 928 shares of the company's stock valued at $34,000 after buying an additional 244 shares during the last quarter. Smartleaf Asset Management LLC raised its holdings in shares of Maplebear by 9.6% in the second quarter. Smartleaf Asset Management LLC now owns 2,978 shares of the company's stock worth $134,000 after acquiring an additional 261 shares during the last quarter. Rafferty Asset Management LLC lifted its position in shares of Maplebear by 2.5% in the second quarter. Rafferty Asset Management LLC now owns 11,000 shares of the company's stock valued at $498,000 after acquiring an additional 273 shares in the last quarter. Crossmark Global Holdings Inc. boosted its stake in shares of Maplebear by 5.0% during the third quarter. Crossmark Global Holdings Inc. now owns 6,423 shares of the company's stock valued at $236,000 after acquiring an additional 304 shares during the last quarter. Finally, Aviva PLC increased its position in Maplebear by 3.9% during the 4th quarter. Aviva PLC now owns 11,279 shares of the company's stock worth $507,000 after purchasing an additional 424 shares in the last quarter. 63.09% of the stock is owned by institutional investors and hedge funds.

Maplebear Price Performance

Shares of Maplebear stock opened at $50.48 on Friday. Maplebear Inc. has a 1-year low of $32.73 and a 1-year high of $52.05. The business's fifty day moving average price is $47.23 and its two-hundred day moving average price is $42.13. The company has a market capitalization of $11.69 billion, a P/E ratio of 27.58, a PEG ratio of 0.75 and a beta of 0.78.

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

Analyst Upgrades and Downgrades

CART has been the subject of a number of research reports. JPMorgan Chase & Co. boosted their target price on Maplebear from $55.00 to $62.00 and gave the stock an "overweight" rating in a report on Friday, August 7th. Cantor Fitzgerald raised their price target on shares of Maplebear from $56.00 to $63.00 and gave the company an "overweight" rating in a report on Friday, August 7th. Barclays upped their price target on shares of Maplebear from $69.00 to $77.00 and gave the company an "overweight" rating in a report on Friday, August 7th. BNP Paribas Exane raised shares of Maplebear from an "underperform" rating to a "neutral" rating and set a $56.00 price objective for the company in a report on Friday, August 7th. Finally, Guggenheim boosted their target price on shares of Maplebear from $44.00 to $46.00 and gave the stock a "neutral" rating in a research report on Friday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat.com, Maplebear presently has a consensus rating of "Moderate Buy" and an average target price of $55.90.

Insider Buying and Selling

In other news, insider Morgan Fong sold 18,390 shares of the stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $49.96, for a total value of $918,764.40. Following the completion of the transaction, the insider directly owned 529,911 shares in the company, valued at $26,474,353.56. This trade represents a 3.35% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ravi Gupta sold 150,000 shares of the firm's stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $50.61, for a total transaction of $7,591,500.00. Following the transaction, the director owned 591,523 shares in the company, valued at $29,936,979.03. This represents a 20.23% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 349,390 shares of company stock valued at $16,023,574. Company insiders own 24.00% of the company's stock.

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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