Quantbot Technologies LP Makes New Investment in Maplebear Inc. $CART

Quantbot Technologies LP bought a new position in shares of Maplebear Inc. (NASDAQ:CART) during the 2nd quarter, HoldingsChannel.com reports. The fund bought 18,882 shares of the company’s stock, valued at approximately $854,000.

Other institutional investors also recently modified their holdings of the company. William Blair Investment Management LLC purchased a new stake in shares of Maplebear during the second quarter valued at approximately $151,364,000. Norges Bank bought a new stake in shares of Maplebear during the 2nd quarter worth $97,351,000. Boston Partners boosted its holdings in shares of Maplebear by 93.3% in the 2nd quarter. Boston Partners now owns 3,961,838 shares of the company’s stock worth $179,261,000 after buying an additional 1,911,771 shares during the last quarter. Champlain Investment Partners LLC bought a new position in Maplebear during the first quarter valued at about $52,333,000. Finally, Invesco Ltd. increased its holdings in Maplebear by 82.5% during the first quarter. Invesco Ltd. now owns 2,575,624 shares of the company’s stock worth $102,742,000 after buying an additional 1,164,702 shares during the last quarter. 63.09% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have weighed in on CART shares. Needham & Company LLC dropped their target price on shares of Maplebear from $66.00 to $50.00 and set a “buy” rating on the stock in a research note on Tuesday, November 11th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Maplebear in a report on Monday. Mizuho initiated coverage on Maplebear in a report on Tuesday, September 30th. They set a “neutral” rating and a $45.00 price objective for the company. Morgan Stanley boosted their target price on Maplebear from $45.00 to $48.00 and gave the company an “equal weight” rating in a research note on Friday, August 15th. Finally, Benchmark cut their price target on Maplebear from $67.00 to $60.00 and set a “buy” rating for the company in a research note on Tuesday, November 11th. Two analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $52.00.

Maplebear Stock Performance

NASDAQ:CART opened at $46.24 on Wednesday. The business’s fifty day moving average is $39.68 and its 200 day moving average is $43.60. The firm has a market cap of $12.14 billion, a price-to-earnings ratio of 25.41, a PEG ratio of 1.46 and a beta of 1.01. Maplebear Inc. has a 52-week low of $34.78 and a 52-week high of $53.50.

Maplebear (NASDAQ:CART) last posted its earnings results on Monday, November 10th. The company reported $0.51 earnings per share for the quarter, beating analysts’ consensus estimates of $0.50 by $0.01. Maplebear had a return on equity of 15.72% and a net margin of 14.09%.The business had revenue of $939.00 million during the quarter, compared to analyst estimates of $933.76 million. During the same quarter in the previous year, the firm earned $0.42 EPS. The company’s quarterly revenue was up 10.2% compared to the same quarter last year. Equities analysts predict that Maplebear Inc. will post 1.43 EPS for the current fiscal year.

Insider Activity at Maplebear

In other Maplebear news, General Counsel Morgan Fong sold 3,546 shares of the stock in a transaction that occurred on Monday, October 20th. The shares were sold at an average price of $38.85, for a total value of $137,762.10. Following the sale, the general counsel directly owned 427,523 shares in the company, valued at $16,609,268.55. This represents a 0.82% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Chris Rogers sold 9,259 shares of the firm’s stock in a transaction on Monday, September 22nd. The shares were sold at an average price of $42.37, for a total transaction of $392,303.83. Following the completion of the transaction, the chief executive officer directly owned 739,880 shares of the company’s stock, valued at approximately $31,348,715.60. The trade was a 1.24% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 27,556 shares of company stock valued at $1,179,482. Corporate insiders own 26.00% of the company’s stock.

Maplebear 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.