Wolf Hill Capital Management LP Sells 58,635 Shares of Maplebear Inc. $CART

Key Points

• Wolf Hill Capital Management reduced its Maplebear stake by 23.3% in the fourth quarter, selling 58,635 shares and leaving it with 193,177 shares valued at about $8.69 million.
• Other institutional investors remain heavily involved in CART, with firms like JPMorgan Chase, Kingdon Capital, and US Bancorp DE increasing positions. Overall, institutions own 63.09% of the company.
• Analysts are generally constructive on Maplebear: the stock has a consensus rating of “Moderate Buy” and an average price target of $51.09, even after the company recently missed EPS estimates by $0.01 while posting revenue above expectations.

Wolf Hill Capital Management LP lowered its stake in shares of Maplebear Inc. (NASDAQ:CART - Free Report) by 23.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 193,177 shares of the company's stock after selling 58,635 shares during the quarter. Maplebear accounts for 1.0% of Wolf Hill Capital Management LP's investment portfolio, making the stock its 17th largest holding. Wolf Hill Capital Management LP owned 0.07% of Maplebear worth $8,689,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also bought and sold shares of the stock. JPMorgan Chase & Co. boosted its position in Maplebear by 27.8% in the third quarter. JPMorgan Chase & Co. now owns 1,328,968 shares of the company's stock worth $48,853,000 after purchasing an additional 288,839 shares during the last quarter. Kingdon Capital Management L.L.C. boosted its position in Maplebear by 40.6% in the third quarter. Kingdon Capital Management L.L.C. now owns 450,000 shares of the company's stock worth $16,542,000 after purchasing an additional 130,000 shares during the last quarter. US Bancorp DE boosted its position in Maplebear by 17.0% in the fourth quarter. US Bancorp DE now owns 437,658 shares of the company's stock worth $19,686,000 after purchasing an additional 63,666 shares during the last quarter. Ruffer LLP purchased a new position in Maplebear in the fourth quarter worth $2,567,000. Finally, Counterpoint Mutual Funds LLC purchased a new position in Maplebear in the third quarter worth $2,239,000. Institutional investors own 63.09% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on CART shares. Weiss Ratings raised Maplebear from a "hold (c-)" rating to a "hold (c)" rating in a research report on Monday, May 11th. Raymond James Financial raised Maplebear from a "hold" rating to a "moderate buy" rating in a research report on Thursday, April 9th. Jefferies Financial Group upgraded Maplebear from a "hold" rating to a "buy" rating and boosted their target price for the company from $38.00 to $45.00 in a research note on Monday, March 30th. Needham & Company LLC restated a "buy" rating and issued a $55.00 target price on shares of Maplebear in a research note on Thursday, May 7th. Finally, Wall Street Zen lowered Maplebear from a "buy" rating to a "hold" rating in a research note on Saturday, May 2nd. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $51.09.

Maplebear Stock Performance

NASDAQ:CART opened at $41.24 on Monday. Maplebear Inc. has a 52-week low of $32.73 and a 52-week high of $53.50. The firm has a market cap of $9.69 billion, a price-to-earnings ratio of 23.04, a PEG ratio of 0.57 and a beta of 0.88. The business's fifty day moving average is $40.98 and its 200 day moving average is $40.27.

Maplebear (NASDAQ:CART - Get Free Report) last released its quarterly earnings data on Wednesday, May 6th. The company reported $0.57 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.58 by ($0.01). Maplebear had a net margin of 12.50% and a return on equity of 18.67%. The company had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.01 billion. During the same quarter in the previous year, the firm posted $0.37 earnings per share. The business's revenue for the quarter was up 13.6% compared to the same quarter last year. Equities analysts predict that Maplebear Inc. will post 2.45 EPS for the current fiscal year.

Insider Transactions at Maplebear

In related news, CAO Lisa Blackwood-Kapral sold 9,390 shares of the stock in a transaction dated Wednesday, April 15th. The stock was sold at an average price of $40.25, for a total transaction of $377,947.50. Following the completion of the sale, the chief accounting officer directly owned 58,971 shares in the company, valued at $2,373,582.75. This represents a 13.74% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ravi Gupta sold 181,000 shares of the stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $41.51, for a total value of $7,513,310.00. Following the sale, the director owned 741,523 shares of the company's stock, valued at $30,780,619.73. This represents a 19.62% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 24.00% of the stock is currently owned by corporate 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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