Rip Road Capital Partners LP Acquires 13,700 Shares of Maplebear Inc. (NASDAQ:CART)

Rip Road Capital Partners LP lifted its holdings in shares of Maplebear Inc. (NASDAQ:CART - Free Report) by 11.3% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 134,793 shares of the company's stock after buying an additional 13,700 shares during the period. Maplebear comprises about 4.7% of Rip Road Capital Partners LP's portfolio, making the stock its 12th biggest holding. Rip Road Capital Partners LP owned about 0.05% of Maplebear worth $5,583,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of CART. Wealth Enhancement Advisory Services LLC bought a new position in shares of Maplebear in the 4th quarter worth about $1,166,000. Paragon Capital Management Ltd increased its holdings in Maplebear by 33.3% in the fourth quarter. Paragon Capital Management Ltd now owns 12,740 shares of the company's stock worth $528,000 after purchasing an additional 3,185 shares in the last quarter. SG Americas Securities LLC bought a new stake in Maplebear in the fourth quarter worth approximately $1,401,000. Janney Montgomery Scott LLC lifted its stake in Maplebear by 212.1% in the fourth quarter. Janney Montgomery Scott LLC now owns 23,938 shares of the company's stock valued at $992,000 after buying an additional 16,267 shares during the period. Finally, Arkfeld Wealth Strategies L.L.C. grew its position in shares of Maplebear by 70.1% during the 4th quarter. Arkfeld Wealth Strategies L.L.C. now owns 18,628 shares of the company's stock worth $829,000 after buying an additional 7,680 shares during the period. 63.09% of the stock is currently owned by institutional investors.

Maplebear Stock Performance

NASDAQ CART traded up $0.87 during trading on Tuesday, hitting $46.81. The stock had a trading volume of 1,432,526 shares, compared to its average volume of 4,492,148. Maplebear Inc. has a 12 month low of $29.84 and a 12 month high of $53.44. The company has a market capitalization of $12.29 billion, a PE ratio of 31.42, a P/E/G ratio of 1.19 and a beta of 1.19. The company's 50-day moving average price is $41.31 and its two-hundred day moving average price is $43.54.

Maplebear (NASDAQ:CART - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The company reported $0.37 EPS for the quarter, missing analysts' consensus estimates of $0.38 by ($0.01). The firm had revenue of $897.00 million during the quarter, compared to the consensus estimate of $896.86 million. Maplebear had a net margin of 13.37% and a return on equity of 13.78%. The company's revenue for the quarter was up 9.4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.43 earnings per share. As a group, equities analysts anticipate that Maplebear Inc. will post 1.43 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on CART shares. Mizuho lowered their target price on shares of Maplebear from $55.00 to $52.00 and set an "outperform" rating on the stock in a report on Wednesday, February 26th. Benchmark reiterated a "hold" rating on shares of Maplebear in a research note on Wednesday, February 26th. Citigroup boosted their price target on shares of Maplebear from $55.00 to $57.00 and gave the stock a "buy" rating in a report on Tuesday, May 13th. JMP Securities reissued a "market outperform" rating and set a $55.00 target price on shares of Maplebear in a research report on Friday, April 11th. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $56.00 price target on shares of Maplebear in a research report on Friday, May 2nd. Twelve equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $51.30.

Insider Activity at Maplebear

In related news, General Counsel Morgan Fong sold 5,249 shares of the company's stock in a transaction on Monday, April 21st. The shares were sold at an average price of $42.57, for a total value of $223,449.93. Following the completion of the transaction, the general counsel now directly owns 484,292 shares in the company, valued at approximately $20,616,310.44. The trade was a 1.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Fidji Simo sold 2,033 shares of the company's stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $40.00, for a total transaction of $81,320.00. Following the sale, the chief executive officer now owns 1,654,559 shares of the company's stock, valued at approximately $66,182,360. The trade was a 0.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 36,165 shares of company stock worth $1,541,785. Insiders own 26.00% of the company's stock.

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.