Maplebear Inc. $CART Shares Sold by Generate Investment Management Ltd

Generate Investment Management Ltd lowered its stake in Maplebear Inc. (NASDAQ:CART) by 76.6% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 150,000 shares of the company’s stock after selling 490,500 shares during the period. Generate Investment Management Ltd’s holdings in Maplebear were worth $5,619,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. Polianta Ltd boosted its stake in shares of Maplebear by 16.9% during the 1st quarter. Polianta Ltd now owns 42,300 shares of the company’s stock worth $1,584,000 after acquiring an additional 6,100 shares in the last quarter. Stance Capital LLC raised its position in shares of Maplebear by 8.0% during the fourth quarter. Stance Capital LLC now owns 31,309 shares of the company’s stock worth $1,408,000 after purchasing an additional 2,324 shares during the period. Corient Private Wealth LLC acquired a new stake in shares of Maplebear during the fourth quarter worth $912,000. Pacer Advisors Inc. lifted its holdings in shares of Maplebear by 43.6% during the fourth quarter. Pacer Advisors Inc. now owns 1,128,151 shares of the company’s stock valued at $50,744,000 after purchasing an additional 342,283 shares during the last quarter. Finally, Compound Planning Inc. lifted its holdings in shares of Maplebear by 2.8% during the fourth quarter. Compound Planning Inc. now owns 19,347 shares of the company’s stock valued at $870,000 after purchasing an additional 523 shares during the last quarter. Institutional investors and hedge funds own 63.09% of the company’s stock.

Insider Buying and Selling at Maplebear

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

Maplebear Stock Performance

Shares of CART opened at $44.27 on Tuesday. The company has a market capitalization of $10.40 billion, a PE ratio of 24.73, a PEG ratio of 0.61 and a beta of 0.88. The company’s 50 day moving average price is $41.44 and its 200 day moving average price is $40.33. Maplebear Inc. has a 52 week low of $32.73 and a 52 week high of $53.50.

Maplebear (NASDAQ:CART) last released its earnings results 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 return on equity of 18.67% and a net margin of 12.50%.The company had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1.01 billion. During the same quarter in the previous year, the company earned $0.37 EPS. The firm’s quarterly revenue was up 13.6% compared to the same quarter last year. On average, equities analysts forecast that Maplebear Inc. will post 2.45 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on CART. Weiss Ratings raised Maplebear from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, May 11th. Raymond James Financial raised shares of Maplebear from a “hold” rating to a “moderate buy” rating in a research note on Thursday, April 9th. Argus upgraded shares of Maplebear to a “strong-buy” rating in a report on Thursday, March 5th. Jefferies Financial Group raised shares of Maplebear from a “hold” rating to a “buy” rating and lifted their target price for the stock from $38.00 to $45.00 in a research report on Monday, March 30th. Finally, Citizens Jmp restated a “market outperform” rating and set a $60.00 price target on shares of Maplebear in a report on Monday, June 15th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $51.09.

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.