Maplebear Inc. $CART Shares Bought by Prudential PLC

Prudential PLC boosted its holdings in shares of Maplebear Inc. (NASDAQ:CART) by 118.5% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 67,652 shares of the company’s stock after buying an additional 36,687 shares during the period. Prudential PLC’s holdings in Maplebear were worth $3,043,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in CART. Hantz Financial Services Inc. lifted its holdings in Maplebear by 78.6% during the 3rd quarter. Hantz Financial Services Inc. now owns 884 shares of the company’s stock worth $32,000 after buying an additional 389 shares in the last quarter. Allworth Financial LP lifted its holdings in Maplebear by 35.7% during the 3rd quarter. Allworth Financial LP now owns 928 shares of the company’s stock worth $34,000 after buying an additional 244 shares in the last quarter. Abich Financial Wealth Management LLC acquired a new stake in Maplebear during the 3rd quarter worth approximately $43,000. IFP Advisors Inc lifted its holdings in Maplebear by 761.3% during the 4th quarter. IFP Advisors Inc now owns 956 shares of the company’s stock worth $43,000 after buying an additional 845 shares in the last quarter. Finally, Sunbelt Securities Inc. lifted its holdings in Maplebear by 212.7% during the 3rd quarter. Sunbelt Securities Inc. now owns 1,157 shares of the company’s stock worth $43,000 after buying an additional 787 shares in the last quarter. 63.09% of the stock is currently owned by institutional investors and hedge funds.

Maplebear Trading Down 0.5%

Shares of NASDAQ:CART opened at $41.26 on Friday. Maplebear Inc. has a 52 week low of $32.73 and a 52 week high of $53.50. The company’s 50 day moving average is $40.51 and its two-hundred day moving average is $40.23. The company has a market cap of $9.70 billion, a PE ratio of 23.05, a P/E/G ratio of 0.57 and a beta of 0.88.

Maplebear (NASDAQ:CART) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $0.57 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 firm had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1.01 billion. During the same period in the prior year, the company posted $0.37 earnings per share. The company’s revenue for the quarter was up 13.6% on a year-over-year basis. As a group, equities research analysts expect that Maplebear Inc. will post 2.45 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on CART shares. Raymond James Financial upgraded shares of Maplebear from a “hold” rating to a “moderate buy” rating in a report on Thursday, April 9th. Jefferies Financial Group upgraded shares of Maplebear from a “hold” rating to a “buy” rating and increased their target price for the stock from $38.00 to $45.00 in a report on Monday, March 30th. Barclays increased their target price on shares of Maplebear from $65.00 to $69.00 and gave the stock an “overweight” rating in a report on Thursday, May 7th. Weiss Ratings upgraded shares of Maplebear from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, May 11th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $55.00 price objective on shares of Maplebear in a research report on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, Maplebear has a consensus rating of “Moderate Buy” and a consensus price target of $51.09.

Insider Buying and Selling at Maplebear

In other Maplebear news, Director Ravi Gupta sold 181,000 shares of the stock in a transaction that occurred on 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 directly owned 741,523 shares of the company’s stock, valued at approximately $30,780,619.73. This represents a 19.62% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, General Counsel Morgan Fong sold 126,083 shares of the stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $37.09, for a total transaction of $4,676,418.47. Following the completion of the sale, the general counsel directly owned 386,643 shares in the company, valued at approximately $14,340,588.87. This represents a 24.59% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 325,863 shares of company stock valued at $12,931,445. Insiders own 24.00% of the company’s stock.

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.