GSA Capital Partners LLP Makes New Investment in Maplebear Inc. $CART

GSA Capital Partners LLP purchased a new position in shares of Maplebear Inc. (NASDAQ:CART) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 14,195 shares of the company’s stock, valued at approximately $672,000.

Several other institutional investors have also modified their holdings of CART. Viking Global Investors LP acquired a new stake in Maplebear in the 2nd quarter worth about $169,782,000. Marshall Wace LLP purchased a new stake in Maplebear in the 4th quarter valued at $126,206,000. Norges Bank acquired a new stake in Maplebear during the fourth quarter worth about $97,221,000. Dimensional Fund Advisors LP increased its holdings in shares of Maplebear by 114.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,792,673 shares of the company’s stock worth $170,594,000 after buying an additional 2,026,567 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. increased its stake in Maplebear by 401.4% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 2,281,452 shares of the company’s stock worth $102,620,000 after acquiring an additional 1,826,402 shares during the last quarter. Institutional investors and hedge funds own 63.09% of the company’s stock.

Maplebear Stock Up 3.6%

Shares of Maplebear stock opened at $50.67 on Thursday. The company’s 50-day simple moving average is $46.26 and its 200-day simple moving average is $41.51. Maplebear Inc. has a 52-week low of $32.73 and a 52-week high of $51.06. The firm has a market cap of $11.73 billion, a price-to-earnings ratio of 27.69, a price-to-earnings-growth ratio of 0.72 and a beta of 0.78.

Maplebear (NASDAQ:CART) last issued its earnings results on Thursday, August 6th. The company reported $0.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.09). The business had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $1.03 billion. Maplebear had a return on equity of 20.19% and a net margin of 11.97%.The business’s quarterly revenue was up 14.1% on a year-over-year basis. During the same period last year, the company posted $0.41 earnings per share. Equities research analysts anticipate that Maplebear Inc. will post 2.33 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on CART. Guggenheim boosted their price target on shares of Maplebear from $44.00 to $46.00 and gave the company a “neutral” rating in a research note on Friday, August 7th. Wells Fargo & Company increased their price target on Maplebear from $47.00 to $54.00 and gave the company an “equal weight” rating in a research report on Friday, August 7th. BNP Paribas Exane raised shares of Maplebear from an “underperform” rating to a “neutral” rating and set a $56.00 price objective for the company in a research report on Friday, August 7th. Cantor Fitzgerald upped their price target on Maplebear from $56.00 to $63.00 and gave the company an “overweight” rating in a report on Friday, August 7th. Finally, Barclays upped their price objective on shares of Maplebear from $69.00 to $77.00 and gave the company an “overweight” rating in a research note on Friday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $55.90.

Insider Transactions at Maplebear

In other Maplebear news, 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 completion of the transaction, the director directly owned 741,523 shares of the company’s stock, 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 filing with the SEC, which is accessible through the SEC website. Company 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.